Privacy Policy for Lumina Vest
At Lumina Vest, we are committed to protecting your privacy and handling your personal data with transparency and care. This privacy policy outlines how we collect, use, store, and share your information when you interact with our services, including personal pension planning and management, workplace pension scheme consultation, retirement income strategies, ethical investment advice, pre-retirement seminars, and post-retirement financial coaching. We adhere to the General Data Protection Regulation (GDPR) and other applicable data protection laws in the United Kingdom.
1. Information We Collect
We collect various types of information to provide and improve our comprehensive pension planning and retirement financial advice services. This includes:
- Personal Identification Information: Name, date of birth, national insurance number, address, contact details (phone number, email address).
- Financial Information: Income details, existing pension information, investment history, bank account details, tax information, employment details, and financial goals.
- Sensitive Personal Information: We may, with your explicit consent, collect information related to your health or lifestyle if it is directly relevant to assessing your financial needs or ethical investment preferences.
- Technical Data: Information about your visits to our online platform, including IP address, browser type, operating system, referral sources, length of visit, and page views. This helps us improve our online presence and service delivery.
- Communication Data: Records of your communications with us, including emails, phone calls, and meeting notes.
2. How We Use Your Information
Your information is used for specific purposes related to providing our financial services and managing our business operations, based on various legal bases:
- To Provide Our Services: For personal pension planning, managing pension schemes, devising retirement income strategies, providing ethical investment advice, and delivering financial coaching. This is necessary for the performance of a contract with you.
- To Communicate with You: To respond to your inquiries, provide updates on your pension and investments, and inform you about relevant services or seminars. This is based on our legitimate interests in customer service or for contract performance.
- Compliance with Legal and Regulatory Obligations: To meet our obligations under financial services regulations, anti-money laundering laws, and tax laws. This is necessary for compliance with a legal obligation.
- Internal Business Operations: For internal record keeping, risk management, training purposes, and service improvement. This is based on our legitimate interests in operating and improving our business.
- Marketing (with Consent): If you have provided your consent, we may use your information to send you marketing communications about our other services that may be of interest to you.
3. Sharing Your Information
We may share your information with third parties only when necessary and with appropriate safeguards:
- Service Providers: Third-party administrators, IT service providers, custodians, and other professional advisors who assist us in delivering our services. These partners are contractually bound to protect your data and only use it for the purposes specified by us.
- Regulatory and Legal Authorities: If required by law or to comply with regulatory obligations, we may share your information with relevant authorities in the United Kingdom or other applicable jurisdictions.
- Pension Providers and Investment Firms: To implement your pension and investment decisions, we will share necessary data with selected pension trustees, scheme providers, and investment firms.
- With Your Consent: We may share your information with other third parties when we have your explicit consent to do so.
4. Data Security
We implement robust technical and organisational measures to protect your personal data from unauthorised access, disclosure, alteration, and destruction. These measures include encryption, access controls, secure networks, and regular security assessments. Our staff are trained on data protection and confidentiality.
5. Data Retention
We retain your personal data only for as long as necessary to fulfil the purposes for which it was collected, including for the purposes of satisfying any legal, accounting, or reporting requirements. Typically, we retain client records for a minimum of seven years after the cessation of our client relationship, in accordance with regulatory obligations in the financial services industry. Some data may be retained for longer periods if required by specific legal rulings or for legitimate business interests.
6. Your Rights
Under GDPR, you have several rights regarding your personal data:
- Right to Access: You have the right to request a copy of the personal data we hold about you.
- Right to Rectification: You have the right to request that we correct any inaccurate or incomplete personal data.
- Right to Erasure ('Right to be Forgotten'): You can request the deletion of your personal data where there is no compelling reason for its continued processing, subject to legal and regulatory obligations.
- Right to Restrict Processing: You have the right to request the restriction of processing of your personal data in certain circumstances.
- Right to Data Portability: You have the right to receive the personal data you provided to us in a structured, commonly used, and machine-readable format.
- Right to Object: You have the right to object to the processing of your personal data in certain situations, including for direct marketing.
- Right to Withdraw Consent: Where our processing is based on your consent, you have the right to withdraw that consent at any time.
To exercise any of these rights, please contact us using the details provided below.
7. Changes to This Privacy Policy
We may update this privacy policy from time to time to reflect changes in our practices or legal requirements. Any updates will be posted on our online platform, and where appropriate, we will notify you directly of significant changes.
8. Contact Us
If you have any questions or concerns about this privacy policy or our data practices, please contact our team at:
Lumina Vest
2847 Threadneedle Street, Floor 7
London, England, EC2R 8DP