When it comes to investing, it's important to understand the legal structure of custody. This refers to the way in which your assets are held and protected by the firm responsible for administering them. At Prosper, we take this responsibility seriously and want to ensure that our clients' assets are always safe and secure.

First and foremost, it's important to note that the custodian, in our case Seccl, and the firm who owns the assets, are authorised and regulated by the Financial Conduct Authority (FCA). This means that they must adhere to strict guidelines and regulations set by the FCA in order to operate. This provides an added layer of protection for our clients' assets.

The assets that are held by our custodian are legally segregated, or ring fenced. This means that they are kept separate from the company responsible for administering them. This is done to ensure that in the event of any financial issues or insolvency, our clients' assets are protected and not affected.

For example, if our custodian, Seccl, were to be wound up, your assets would remain invested and held exactly as they are. This means that your investments would not be impacted and would continue to grow until they are transferred to a new pension administrator and/or custodian. In this situation, we would manage the process and arrange for the transfer to a new custodial arrangement. During this time, you will not be able to make any changes to your investments. It's important to note that in such a scenario, our terms and conditions may be affected.

At our company, we have partnered with Seccl Technologies to provide custody and trustee services. Seccl is a wholly owned subsidiary of the Octopus Group, a well-respected and reputable financial services company. This partnership allows us to provide our clients with the highest level of protection and security for their assets.

In conclusion, the legal structure of custody is an important aspect to consider when investing. At our company, we take all necessary precautions to ensure that our clients' assets are protected and secure. If you have any further questions or concerns about the legal structure of custody, please do not hesitate to reach out to our customer support team for assistance.