Terms of Business
Declan Maher Financial Services Ltd
Declan Maher Financial Services Ltd is regulated by the Central Bank of Ireland under the Investment Intermediaries Act 1995 (as amended), as an Insurance Intermediary under the Insurance Mediation Directive 2005 and as a Mortgage Intermediary under the Consumer Credit Act 1995. The Central Bank of Ireland maintains a register of all regulated firms www.centralbank.ie. Copies of our regulatory authorisations are available on request.
Declan Maher QFA, CFP®, Director,
Declan Maher Financial Services Ltd
1A Liberty Square, Thurles, Co. Tipperary.
(T) 0504 95340
(M) 087 1444977
Declan Maher Financial Services Ltd is subject to and complies with the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards. These Codes offer protection to consumers and can be found on the Central Bank of Ireland website www.centralbank.ie
We offer advice on a fair analysis basis in relation to Insurance, Financial Services products and services and Mortgages. On your behalf we will carry out a fair analysis of the market available to us; taking account of a sufficiently large number of contracts and product producers to enable us to make a professional recommendation to meet your requirements.
We offer our clients an extensive choice of suitable products that best serve their needs and circumstances. On receipt of your instructions we will transmit orders on your behalf to one or more product producers with whom we hold a written appointment.
We do not have any ‘tied’ relationships with any institution that would compromise our ability to offer you impartial advice and choice.
We do not guarantee nor make representations in regard to, and expressly disclaim responsibility for the financial security of the Insurance Companies and Product Producers with which we place business.
Disclosure of Information
It is your responsibility to provide complete and accurate information for insurers when arranging an insurance policy. Failure to disclose any material information to your insurers may invalidate your insurance cover and could mean that all or part of a claim will not be paid.
Declan Maher Financial Services Ltd will be remunerated for business services we offer you our client in a number of ways:
- By the Product Producers with whom we place business in the form of a commission payment and/or based on the quality of business introduced; remuneration is fully disclosed
- By you directly in the form of a fee which we will discuss and agree in advance of all transactions
- You also have the option to pay for the services we provide by way of a professional fee and/or by way of a combination of commissions and fees which we will discuss and agree in advance of all transactions.
Declan Maher Financial Services Ltd may receive a commission from mortgage lenders in respect of mortgage cases, the maximum fee currently payable is 1%. Any additional charges or fees for services rendered by our financial services division will be clearly disclosed to the client in writing prior to the inception of the mortgage and will be agreed with the consumer in writing.
If we provide mortgage advice and obtain a Loan Offer for you and you subsequently do not proceed with your mortgage application through our firm, we will charge you an arrangement fee of €250 for our services.
Conflicts of interest
It is the policy of our firm to avoid conflicts of interest in providing services to you. However, where an unavoidable conflict of interest arises we will advise you of this in writing before providing you with any service. A copy of our Conflicts of Interest Policy is available on request.
Default on payments by clients
Our firm will exercise its legal rights to receive payments due to it from clients (fees and insurance premiums) for services provided. In particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client.
Product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.
Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you do not maintain your agreed repayments.
You, the customer, can cancel your policy at any time by giving notice in writing subject to the terms and conditions of the applicable policy.
We ask that you make any complaint against our firm, relating to services provided by us, in writing. We will acknowledge your complaint within 5 business days and we will fully investigate it. A written update will be issued to your every 20 days by a nominated individual within our firm. A comprehensive response to your complaint will be issued within 8 weeks of receipt of your initial complaint. In the event that you are still dissatisfied with our handling of or response to your complaint, you are entitled to refer the matter to the Financial Services Ombudsman (1890-882090 email@example.com) or the Pensions Ombudsman (01-6471650 firstname.lastname@example.org). A full copy of our complaints procedure is available on request.
We are members of the Investor Compensation Scheme established under section 30 of the Investor Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss or €20,000, whichever is the lesser, and is recognised as being eligible for compensation. Further details are available on request.
Professional Indemnity Insurance Cover
We have Professional Indemnity Insurance Cover to the levels of €1.85m per claim, with €3m in aggregate, as required under the EU Insurance Mediation Directive.
Anti Money Laundering & Countering the Finance of Terrorism
Our firm reserves the right to request any facts about a client which it reasonably believes it needs to know in order to comply with the Criminal Justice (Money Laundering & Terrorist Financing) Act 2010, as amended.
Data Protection – Data Sharing Consent
Declan Maher Financial Services Ltd complies with the Data Protection Acts 1988 and 2003 and the EU General Data Protection Regulation (GDPR). We collect your personal details on a ‘need to know’ basis in order to provide the highest standard of service to you. We take great care with the information provided; taking steps to keep it secure and to ensure it is used only for legitimate purposes. The data which you provide to us will be held on a computer database and paper files for the purposes of arranging transactions on your behalf.
We would like to keep you informed of various Pension, Insurance, Investment and other services provided by us or with which we have a formal business arrangement, and which we think may be of interest to you.
Terms of Business Acknowledgement
I acknowledge that I have been provided with a copy of the Terms of Business of Declan Maher Financial Services Ltd and confirm that I have read and understood them.
I confirm I have read the paragraphs in relation to Data Protection and Direct Marketing in the Terms of Business, and consent to Declan Maher Financial Services Ltd making contact with me by the following methods in relation to the range of services provided by Declan Maher Financial Services Ltd or its Business Partners.
Declan Maher Financial Services Ltd,
1A Liberty Sq, Thurles, Co.Tipperary
(T) 0504 95340 (M) 087 1444977¦www.declanmaherfs.ie