36 Appendix two Does your agreement with advisers explain ... Yes / No Comments Clearly how the arrangements are structured? Agent as client: • That you are treating the adviser firm as your client? • How the adviser firm will be classified – professional / retail? • That it is the adviser’s responsibility to obtain the authority and consent of their clients (investors) to the arrangements and that you are relying on the adviser to do so? • Roles and responsibilities – including suitability and reporting? Reliance on others: • The extent to which you will be relying on the adviser firm for information, suitability and AML? • Roles and responsibilities – including suitability and reporting? Client agreement Yes / No Comments Is the investment mandate articulated clearly? Do you confirm on an annual basis that you have managed the portfolio in accordance with the objectives and investment mandate set? (Annual statement of suitability) Have you considered the extent to which you can rely on KYC and suitability information provided by the adviser firm? Suitability obligations Appendix two - DIM
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