Terms Of Business
These 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.
Gerard Sheehy is regulated by the Central Bank of Ireland and a copy of the firm’s Statement of Authorised Status is available on application. If you would like to check the Authorisation Status of this firm, you can contact the Central Bank by phone on 1890 777 777 or visit their website at www.centralbank.ie.
Description of Services
The service provided to you under this Terms of Business is an Execution Only service. I will not advise you about the merits of a particular transaction and when dealing through this site, you agree that you are not expecting such advice. Any information that is provided is provided solely to enable you make your own investment decision, and does not constitute a personal recommendation or advice.
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 Central Bank of Ireland.
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 Gerard Sheehy 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.
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 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 your product terms and conditions.
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. On completion of our investigation, we will provide you with a written report of the outcome.
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 or the Pensions Ombudsman.
A full copy of our complaints procedure is available on request.
Gerard Sheehy maintains an €1,850,000 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.
Codes of Conduct
Gerard Sheehy is subject to the Consumer Protection Code, Minimum Competency Code and Fitness and Probity Standards which offer protection to consumers. These Codes can be found on the Central Bank’s website www.centralbank.ie
Product Producers from which Gerard Sheehy holds written letters of appointment to act as an intermediary:
Aviva Life and Pensions
Nature of Products from Listed Providers
Personal Retirement Savings Accounts
Specified Illness Cover
Syndicated Property Funds
Direct Property Investments – (which are not regulated by the Central Bank of Ireland)