Terms of Business


Terms of Business

These Terms of Business are effective from 14/3/2018 and set out the general terms under which Kintyre Financial Services will provide business services to you and the respective duties and responsibilities of both Kintyre Financial Services and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries we will be happy to clarify them. If any material changes are made to these terms we will notify you. Kintyre Financial Services will provide the following services: Life, Pensions, Unit Linked Investments from Life Assurance Companies.

Authorised Status & Statutory Codes

Lawrence Mooney t/a Kintyre Financial Services is regulated by the Central Bank of Ireland. Our authorisation reference number is C32319. Kintyre Financial Services is subject to the Consumer Protection Code, Minimum Competence Code and the Fitness & Probity Standards. These codes and our authorisation can be viewed and verified on the Central Bank’s website www.centralbank.ie.

Services Provided

Kintyre Financial Services principal business is to provide advice and arrange transactions for our clients in relation to life assurance on a range of products provided by the Life Assurance Companies we have an agency with and recommend the product from this selection that best suits your needs. Kintyre Financial Services holds an appointment with the following Insurance companies:

  • Aviva Life & Pensions
  • Friends First
  • Irish Life Assurance plc
  • New Ireland Assurance plc
  • Standard Life
  • Royal London
  • Zurich Life Assurance plc
  • Davy

Agency Transfer

Any policies written as part of the advice to which this Terms of Business relates will be written under the specific agency number allocated to us by the institution providing the recommended Insurance /assurance policy(s). Under this Terms of Business you agree that we are permitted to arrange transfer of the related policy(s) to a different agency number, which could be a third party regulated advisor provided we advise you beforehand in writing giving you a minimum of two months notice and the authority to refuse any agency transfer at the time.

Commissions & Charges

Kintyre Financial Services is remunerated on a commission basis and other payments from product producers on completion of our client’s business. The amount of commissions paid will be outlined on documents given to you prior to completing business with us and by the product producer when the policy is issued. Kintyre Financial Services allows you the option

to pay in full for our services by means of a fee which will be agreed in writing prior to  giving any advice, we may also charge a fee for any services provided but no fee may be charged until it has been confirmed to you in writing and the new charge is accepted by you. Fees are charged on a time spent and expenditure basis. Where a renewal, trail or fund based commission is earned by us from the product producer (these are outlined prior to affecting your policy) we will provide an on-going service to you for that business. Alternatively you may be charged a fee.

Conflict of Interest Policy

It is the policy of Kintyre 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. As above we are remunerated by commission for the business you transact with us by the Life Companies.

Default of payments by clients

Kintyre Financial Services will, if necessary, exercise its legal rights to receive any payments 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. Product producers may withdraw benefits or cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in our product terms and conditions.

Receipts

Kintyre Financial Services will issue receipts for each payment received under the Consumer Protection Code 2012 regulations. Kintyre Financial Services recommends that all cheques or negotiable instruments are made payable to the appropriate Financial Institution/Product Provider.

Data Protection

Kintyre Financial Services comply with the Data Protection Regulations, treating all personal data as confidential information. Kintyre Financial Services will use this data only for the purpose(s) intended. Kintyre Financial Services will not disclose such information except as permitted by you or as required by law. The data which you provide to us will be held on a computer database and/or paper files for the purpose of arranging transactions on your behalf. We keep records of business transactions for at least six years after our business relationship ends with our clients, including personal data defined as sensitive under the Data Protection Regulation. A Data Privacy Notice will be given to you with these terms of business.

Regular Reviews

It is in your best interests that you review, on a regular basis the products & advice which we have provided for you. As your circumstances change, your needs will change. You are strongly advised to contact us in the event of any change in your circumstances or requirements and request a review of the relevant policy and advice so that we can ensure that you are provided with up to date advice and products best suited to your needs. Failure to contact us in relation to changes in your circumstances may result in your having insufficient insurance needs.

Complaints

Kintyre Financial Services has a complaints procedure in place, complaints can be made by telephone, in writing, email or face to  face. If a complaint is not in writing or email we will write to you to confirm our understanding of your verbal complaint. All complaints must be notified to Lawrence Mooney, Kintyre Financial Services, 40B Belarmine Plaza, Belarmine Medical Centre, Dublin 18.

Our Complaints Objectives:

  • To respond to complaints in a courteous, timely and fair manner
  • To endeavour to address the specific issues raised by our customers
  • To endeavour to achieve a situation where our customer feels we have addressed the complaint
  • Where customer remain dissatisfied with the outcome of our efforts to resolve their complaint, they can refer their complaint to Financial Services & Pensions Ombudsman at: Lincoln House, Lincoln Place, Dublin 2. Lo call 01 5677000. Email info.@fspo.ie.

Investor Compensation Scheme

Kintyre Financial Services is a member of the Investor Compensation Scheme, which provides certain remedies to eligible clients on default by the firm. Your legal rights against the firm are not affected by this scheme. Under 38 (1) of the Investor Compensation Act, 1998, I wish to draw your attention to the following:

The Investor Compensation Act 1998 provides for the establishment of a compensation scheme to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act. Kintyre Financial Services is a member of the compensation scheme. Compensation may be payable where money or investment instructions owed or belonging to clients are held, or in this case of investment instruments, administrated or managed by this firm cannot be returned to those clients for the time being and there is no reasonable foreseeable opportunity of the firm being able to do so. A right to compensation will arise only:

  • If the client is an eligible investor as defined in the Act
  • If it transpires that this firm is not in a position to return the client’s money or investment instruments owned or belonging to the client of the firm, and
  • To the extent that the client’s loss is recognised for the purposes of the Act.

Where an entitlement to compensation is established, the compensation payable will be the lessor of 90% of the amount of the client’s loss which is recognised for the purposes of the Investor Compensation Act 1998 or Compensation of up to €20,000. For further information contact the Investor Compensation Company Ltd. At (01) 2244955.

Disclosure of Information

It is your responsibility to provide complete and accurate information to us and insurers when you affect your policy, throughout the life of your policy. It is important that you ensure that all statements you make on proposal forms, claim forms and other documents are full and accurate. We cannot be held responsible for incorrect data held in the event of non-disclosure. If you fail to disclose any material information to us or your insurers, this could invalidate your insurance cover and could mean that part or all of a claim may not be paid. To assist us in providing you with a comprehensive service and to keep our records as up-to-date as soon as possible, please notify us of any changes to your personal circumstances, e.g. name change, change of address etc.

The acceptance by Kintyre Financial Services of a completed proposal DOES NOT in itself.constitute the effecting of a policy, it is only when the Insurer confirms the policy is effected  your policy is live.

Governing Law and Business Succession

These Terms of Business shall be governed by the construed in all respects according to the laws of the Republic of Ireland and will be deemed to cover any successors in business to Kintyre Financial Services.