Terms of BusinessThese Terms Of Business set out the basis on which Gerard Sheehy provides business services to you as an individual private client of the firm. Please take a few minutes to read through these and if you have any questions we will be happy to answer them.
The full name and address of the firm and communication details are set out on the contact us pages on this website.. Consumer Information Gerard Sheehy is regulated by the Financial Regulator and a copy of the firms Statement of Authorised Status is available on application. If you would like to check the Authorisation Status of this firm, you can contact the Regulator bye-mail at: registers@ifsra.ie or by phone at 1890 200 469. Description of Services
- advising you in relation to the nature of each of the products set out below and advising you as to which product is suitable for your needs.
- identifying and selecting a suitable product producer
- receiving and transmitting orders on your behalf for a product or products to one or more product producers listed in Appendix 1.
The products for which Gerard Sheehy has appointments to act in relation to are all life assurance products and these include Pension policies, Savings and Investment Life Assurance policies, PRSA's and Protection type policies. Gerard Sheehy is regulated by the Financial Regulator. Remuneration Policy Gerard Sheehy receives commission and other payments from the product producer to whom orders are transmitted. Summary details of these payments will be included in a product information document, which you are legally entitled to receive before an application for a product is completed, and full details will be included with your cooling-off letter.
In the event of advice being offered that Gerard Sheehy would not be remunerated by the standard commission terms offered by providers, this would be made known to you, and agreed with you, prior to any advice being given or action taken. The basic hourly rate is €175.00
Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. These fees will cover the advice on the nature of the products and selection of suitable products. Where the client selects a product issued by a provider in Appendix I, commission may be payable and used to offset the fee due. Where the commission is greater than the fee due, the commission will become the amount payable to the intermediary except where an arrangement to the contrary is made.
Conflicts of Interest It is the policy of the firm to avoid any conflict of interest when providing business services to its clients. However, when 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 conflict you are entitled to assume that none arises.
Gerard Sheehy will, if necessary, exercise his legal rights to receive payments due to it from clients for business services provided by it and, to be reimbursed for any value obtained by the firm for clients arising from payments by the firm on behalf of clients who subsequently default in any payments 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 your product terms and conditions. Complaints Procedure Any complaint that you may have in relation to the business services provided should be made verbally or in writing to the firm outlining the nature of your complaint. Any such complaint will be acknowledged within 5 days. The complaint will be fully investigated by Gerard Sheehy and a full response will be provided to you. I will aim to provide this response not later than one month from the receipt of your complaint.
In the event that you remain dissatisfied with the firms handling and response to your complaint, you are entitled to refer the matter to the Financial Services Ombudsman. The Ombudsman can be contacted at enquiries@financialobbudsman.ie or by phone at 1890 882 090. A full copy of our complaints procedure is available on request. A pension related complaint can be referred to the Pensions Ombudsman at: www.pensionsombudsman.ie Client Comfort Gerard Sheehy maintains an €1,500,000 Professional Indemnity Insurance for all service activities Investment Compensation Company Limited Gerard Sheehy is a member of the Investor Compensation Scheme, which provides certain remedies to eligible clients on default by the firm. In the event that a right to compensation has been established, the amount payable is 90% of your loss or €20,000, whichever is the lesser. Appendix 1 Product Producers from which Gerard Sheehy holds written letters of appointment to act as an intermediary: - Caledonian Life
- Canada Life
- Eagle Star
- Friends First
- Hibernian Life
- Irish Life
- Merrion Stockbrokers Ltd
- Quinn Life
- Scottish Provident
- Scottish Mutual
- Standard Life
- Wealth Options
Nature of products from Listed Providers - Pensions
- Personal Retirement Savings Accounts
- Savings Plans
- Investment Products
- Life Assurance
- Specified Illness Cover
- Income Protection
- Syndicated Property Funds
- Direct Property Investments (which are not regulated by the Financial Regulator).
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