Terms of Business

Thank you for viewing our website. In relation to the financial services we offer, we would like to set out the following document which contains some important points for you as a new client of PJ Farrell Financial Services.

Contact Details

Services which Farrell Financial Services provides:

Farrell Financial Services is regulated by the Central Bank of Ireland as a Multi-Agency Intermediary and a Mortgage Intermediary and complies with their rules and regulations.
The range of services that Farrell Financial Services provides are intended to give investment advice based on the products offered by the product producers from whom a written letter of appointment is held.

We are authorised to provide investment advice on a broad basis. Included in the advice offered is:

• Life Assurance - Level, Convertible & Decreasing Term
• Serious Illness - Level, Convertible & Decreasing Term
• Permanent Health Insurance/Income Protection
• Payment Protection Insurance
• Savings
• Investments & Tracker Bonds
• Deposits
• Pensions
• PRSAs
• Mortgages

Commission and Charges

Farrell Financial Services is paid a commission on business placed with each product provider it holds an appointment with. This payment is taken into account in the quotation provided to you and summary information is contained in the product information document. Before completion of your application it is important that you receive this information and that you understand the details contained. Full details will be included in the cooling-off letter issued by the product provider.

Farrell Financial Services may also opt to charge a fee in certain circumstances. If this occurs, Farrell Financial Services makes a full rebate of commission in order that the customer is not prejudiced in any way. The fee in question will be confirmed in writing prior to the completion of any business.
 

Conflicts of Interest

It is our policy to avoid any conflict of interest when providing a service to our clients. Where an unavoidable conflict of interest arises, Farrell Financial Services will make the customer immediately aware of the situation. However, it is the stated aim of Farrell Financial Services not to engage in any conflict of interest. At all times Farrell Financial Services endeavours to act to the best advantage of its customers in recommending the most suitable solution to each individual need.

Default/Non payment by Client
Should a customer default on a payment due to Farrell Financial Services the legal right of the company to pursue such payment will be exercised. Reimbursement will be sought 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.

A product provider may withdraw benefits on a policy where non-payment occurs. Details of such circumstances are contained in the policy terms and conditions of the product provider and issued to each client.

Farrell Financial Services contributes to the Investor Compensation Scheme. This provides payments to customers where a member firm defaults and the main conditions of the operation of the scheme are available on request.

Any monies paid directly to Farrell Financial Services are placed in a �Client Premium Account�and transmitted to the relevant product provider.







 

Data Protection

We keep records of our business transactions for at least six years, including personal data defined as sensitive under the Data Protection Acts. You have the right to inspect copies of all entries in our books or computerised records relating to transactions with you.

Governing Law

These Terms of Business shall be governed by and construed in all respects according to the laws of the Republic Of Ireland and are valid until further notice.

Product Producer Appointments

Product Producers from which Farrell Financial Services hold written letters of Appointment to act as intermediary:

• Canada Life
• Zurich Life
• Friends First Life
• Aviva Life & Pensions Ltd
• Irish Life plc
• New Ireland Assurance
• Cardif Pinnacle
• Prima Finance
• Insurety

Complaints

Farrell Financial Services complies with the Compliant Handling procedures as laid out by the Consumer Protection Code. All complaints are recorded and acknowledged to the complainant within a 5 working day period. Regular written updates will be provided every 20 working days at the latest. If the complaint has not been resolved within 40 days, you have the right to refer the matter to the Financial Services Ombudsman or the Pensions Ombudsman.

Contact details for pursuing a complaint against Farrell Financial Services, should it arise, are as follows:

Financial Services Ombudsman�s Bureau
3rd Floor, Lincoln House
Lincoln Place
Dublin 2
Ireland

Lo-call: 1890 88 20 90
Fax: (01) 662 0890
E-mail: enquiries@financialombudsman.ie
Web: www.financialombudsman.ie