Terms of Business |
| These Terms of Business set out the general terms under which Cregan Kelly Financial Services will provide mortgage and investment advice. |
| |
Authorised Status
Finance Life & Pensions Ltd t/a Cregan Kelly Financial Services is authorised by the Financial Regulator as an Authorised Advisor and as a Mortgage Intermediary. The firm is also registered with the Financial Regulator as an Insurance Intermediary under the Insurance Mediation Directive. Copies of the firm’s authorisations are available on request. You can also verify our regulatory status by contacting the Financial Regulator on 1890 77 77 77. |
| |
Services Provided
The firm is authorised to provide broad based advice and arrange business on your behalf in relation to insurance policies personal retirement savings accounts (PRSA’s), and mortgages. Insurance policies include mortgage protection, life and serious illness cover, pensions, permanent health insurance, savings plans, and lump sum investments.
The firm can arrange insurance and investment products on your behalf with the following product producers with whom an agency is held: |
 | Irish Life Assurance |
|
| New Ireland Assurance |
|
| Hibernian Life & Pensions |
|
| Eagle Star Life Assurance
|
|
| Friends First Life Assurance |
|
| Caledonian Life |
|
| Canada Life |
|
| Standard Life
|
|
| |
| We also have mortgage agencies with the following lenders: |
| IIB Homeloans Ltd |
|
| Ulster Bank Ireland Limited |
|
| ICS Building Society |
|
| Seniors Finance Ireland Ltd |
|
| Sullivan Dowling Mortgage & Financial Advisers Ltd |
|
| Irish Life & Permanent Plc
|
|
| |
Remuneration policy
Cregan Kelly Financial Services may receive commission and other payments from the product producer or undertaking with which business is placed. Summary details of these payments will be included, where appropriate, in a product information document, in relation to insurance products. In respect of mortgages, we may receive commission from mortgage undertakings at a rate of up to 1% of the amount borrowed. If we secure a Letter of Offer for you, and you do not proceed with the loan, there will be a charge for our services. This fee is €250 at present, but is liable to change from time to time.
In certain circumstances we may also opt to charge you a fee or you may prefer to engage us on a fee basis. If this applies we will advise you fully of the cost involved and a signed authority form will be obtained from you. |
| |
Conflict of Interests
It is the policy of Cregan Kelly Financial Services to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advise you of this in writing before proceeding to provide any business service. If you have not been advised of any such conflict you are entitled to assume that none arises. |
| |
Legal rights
Cregan Kelly Financial Services will, if necessary exercise its legal rights to receive any payment due to it from clients for business services provided by it, and to be reimbursed for any value obtained by the firm on behalf of clients who subsequently default in any payment due to the firm.
Lenders or insurers may withdraw benefits, cover, loan facilities, or impose penalties in the event of default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your product terms and conditions.
In the event that a mortgage arranged on your behalf is redeemed which results in Cregan Kelly Financial Services being required to refund commissions received, we reserve the right to charge you a fee for services provided, up to the amount of the commission refunded. |
| |
Complaints Procedure
A complaint is defined as an expression of dissatisfaction by a customer, whether justified or not. Complaints may come from a number of different sources and may be received in writing, by telephone, email, or personal visit. |
| |
| Our policy |
| Our customer complaints are dealt with fairly and all problems are resolved as quickly as possible. All written complaints will be acknowledged in writing within 5 business days. We aim to resolve all complaints within 20 business days. A copy of our detailed complaints procedure is available on request. |
|
| Where customers remain dissatisfied with the outcome of our efforts to resolve their complaint, they are notified of their right to refer their grievance to the Financial Services Ombudsman or the Pensions Ombudsman. |
|
| It is preferred that all complaints are made in writing and should be addressed to Colm Kelly at the address shown above. |
|
| |
Data Protection
Cregan Kelly Financial Services is a Data Controller and Data Processor registered with the Data Protection Commissioner and complies with the Data Protection Acts 1988 and 2003.
The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf.
We would also like to keep you informed of mortgage, insurance, investment, and any other services provided by us or associated companies with which we have a formal business arrangement, and which we think may be of interest to you. We may receive referrals from such firms and may advise them of any transactions arranged for you. If you do not wish to receive such marketing information please tick the box in the Terms of Business acknowledgement letter. |
| |
Investor Compensation
Cregan Kelly Financial Services is a member of the Investor Compensation Scheme established under the Investor Compensation Act 1998. The legislation provided for the establishment of a compensation scheme and to the payment in certain circumstances, of compensation to certain clients of firms (known as eligible investors) covered by the Act. However, you should also be aware that a right to compensation would only arise where client money or investment instruments held by this Company on your behalf cannot be returned, either for the time being or for the foreseeable future, and where the client falls within the definition of eligible investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the client’s loss, which is recognized as being eligible for compensation, or €20,000.
Cregan Kelly Financial Services also holds Professional Indemnity insurance as required under the Insurance Mediation Directive.
These Terms of Business are valid from 1st June 2007 until further notice. |
| |
| |
 If you would like to arrange a consultation with one of our financial advisors, please click here. |
| |
