Privacy, cookies and GDPR

Personal data is information that can be linked with a physical person. This includes physical and electronic documentation as well as phone recordings.

Full company name and contact information:

Formuesforvaltning AS

Email: kommunikasjon@formue.no
Tlf: (+47) 24 12 44 00
Postal address: Post box 1777 Vika, 0122 Oslo

This privacy policy was last updated 15.05.2018.

How we collect personal data

When you sign up or order

We will collect your personal data when you subscribe to our newsletter, sign up for one of our events, or order our magazine “Formue”.

When we consult or communicate with you

Formuesforvaltning AS, Formuesforvaltning Aktiv Forvaltning AS, Formuesforvaltning Forretningsførsel AS and Formuesforvaltning Advokatfirma AS, from now on referred to as «Formuesforvaltning», collect and process your personal data in order to process an suitability assessment in accordance with the securities trading law, and in order to offer you investment counseling.

Comprehensive investment counseling presupposes that we will collect information about your financial placements, personal relationships, investment goals, your financial situation and your willingness to take risk.

All our communication with you, including emails, meeting notes, and other notes will be stored. This storing of data is necessary in order to comply with the securities trading law and makes sure that all changes in your situation, and all decisions are well documented. However, you can always let us know if there is certain information you wish to leave out from the saved meeting notes.

Information that is collected will be added to your personal wealth plan that will be available on your personal page on minformue.no.

From other sources

To ensure good quality customer data, and comply with Norwegian law, Formuesforvaltning can also collect additional data about you from other private and public records.

How we process personal data

Investment counseling

In order to comply with the securities trading law, we use personal data to deliver investment counseling, as well as process a suitability assessment in advance.

Account Management

We use personal data in order to fulfill our contract with you. This includes sending invoices, do payment transactions, reply to your requests and administrate our customer relationship with you.

Analytics

We can sometimes use personal data for the purpose of analyzing and improving our own services. This is justified by our legitimate interest in providing you better services.

Customer Relationship and Marketing

We process your personal data in order to manage our relationship with you, make timely follow-ups as well as provide you with relevant marketing and communication. This is justified by our legitimate interest in providing our customers with more relevant offers.

When you subscribe to our newsletter, sign up for one of our events, or order our magazine “Formue” we will add you as a subscriber in our email lists.

You can anytime unsubscribe by following the link in the bottom of the last email you received or send us a message using kommunikasjon@formue.no. We will then remove you from any you wish to be removed from.

IT Management

Formuesforvaltning uses external IT suppliers that can process or store personal data. Storing and processing will primarily happen within the EEA, but with specific needs it might also happen outside this area. If storing and processing of personal data should happen outside of the EEA, it will always be done in accordance with Norwegian privacy laws.

The mentioned administration of our IT is justified by our legitimate interest in maintaining our IT systems and deliver our services to you. (You can find an updated list of our external suppliers outside of the EEA here)

Formuesforvaltning receive deliverables from other companies within our group. The processing of personal data can happen both in the parent company (Formuesforvaltning AS) or any of its affiliated subsidiaries. (You can find an overview of all our subsidiaries here)

Confidentiality

All employees of Formuesforvaltning are required to keep all information obtained from customer relationships confidential.

The confidentiality agreement does not cover information that is publicly available, information that we’re required by law to provide a court or other authorities, or information and information that is obviously not confidential in nature.

Cookies

If you wish to get more insights into what is traced when you’re online, we recommend the browser addon Ghostery.

Phone Recordings

We wish to inform you that Formuesforvaltning will record all phone calls with our Wealth Managers (Including cell phone calls) in order to follow Norwegian law for security trading. The recordings will be stored for at least three years.

Conversations can be audited by out Compliance & Risk Department or whoever Formuesforvaltning hire to fill this function. Formuesforvaltning can be required to share recordings, and other types of information related to other communication channels, to the Norwegian public authorities and others that can legally demand this information.

You can find more information about our phone recording policies here (Norwegian).

Consent

You can give us specific consent to receive communication from Formuesforvaltning. What you consent to should be clearly stated in the consent description.

You can anytime unsubscribe by following the link in the bottom of the last email you received or send us a message using kommunikasjon@formue.no. We will then remove you from any you wish to be removed from.

If you’re already a customer, you can check and change your consent on minformue.no.

Your Rights

By law you have the following rights:

The right to information

You have the right to get more information about how we process your personal data.

The right to transparency

You can always ask to get handed all data we have collected about you. Note that this right does not give you the right to access information about any other than yourself, and that we will not give any insight into any of our business secrets.

The right to corrections

You can ask us to update information about yourself and correct any information that might be incorrect.

The right to be deleted

We will delete information about you when we no longer have legal basis for storage or processing the data.

The right to data portability

The right to data portability allows individuals to obtain and reuse their personal data for their own purposes across different services. You can at any time request to get all the information we have stored about you in a structured and machine-readable format.

The right to object to processing

We can’t use your personal data unless the there is a legitimate interest or that we have consent to do so. If you feel that these criteria are not met, you can at any time object to our processing of your data. This does not apply if our reason for processing is of greater overall importance or required by law. 

The Right to limit processing

If your objection is being processed, we will limit the use of your data until a conclusion has been made.

These rights can be exercised through minformue.no, by contacting your Wealth Manager, or by using the contact information mentioned on the top of this page.

If you think we are in violation of the privacy laws or wish to object to our use of your personal data, you can send an official complaint to The Norwegian Data Protection Authority. However, we encourage you to contact us first, so we can give you an answer and clear up any possible misunderstandings.

You have the right to access information (free of charge) about which personal data that is processed by Formuesforvaltning and other related companies in the same group.

Your inquiry can be directed to the following address: personvern@formue.no.

Storing and Processing Data

Formuesforvaltning will keep the customer data for the duration of the customer relationship.

If the relationship discontinues will information about transactions and contracts be kept for 10 years after the end of the relationship. When the relationship has been inactive for 10 years all personal data will be anonymized or deleted.

Other customer information will be deleted two years after the customer relationship ended.

Marketing data, including customer profiles, will be deleted as soon as possible after the customer relationship has ended, and at the latest after three months.

Phone recordings of conversations with customer support will usually be stored for 72 hours but can be stored for up to ten years if the conversation was about purchasing insurance services.

Any information about scams or fraud will be stored for 10 years.

Data Protection Officer

Formuesforvaltning has a Data Protection Officer in charge of securing that the company comply with privacy laws, regulations and internal policies. The Data Protection Officer can be contacted on personvern@formue.no. The Data Protection officer can be contacted for any complaints regarding our data processing, or you can send an official complaint to The Norwegian Data Protection Authority.

Duty of disclosure

Our customers should be aware that Formuesforvaltning can be obliged to disclose relevant information about customer relationships or transactions to public authorities.

Formuesforvaltning rapport information about holdings and selected transactions on the client account and manager registration account to the tax authorities. This to ensure correct taxation for our customers and to comply with the duty of disclosure in the Tax Administration Act § 6-17 nr. 3.