Terms of Business | donaldpmckenna

Terms & Conditions of Business

These terms of business set out the general terms under which my firm will provide insurance and investment & taxation advice & business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure to read these terms thoroughly and if you have any queries, please contact the undersigned

Authorisation with the Central Bank of Ireland

Donald P McKenna t/a Donald P McKenna & Associates is regulated by the Central

Bank of Ireland as an is authorised by the Central Bank of Ireland as an Authorised

Advisor under the Investment Intermediaries Act 1995 (as amended) and as an

Insurance Intermediary under the European Communities (Insurance Distribution)

Regulations 2019.

Copy of our regulatory authorisation is attached The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify our credentials.

Donald P McKenna & Associates is subject to the Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards which offer protection to consumers. These Codes can be found on the Central Bank’s website www.centralbank.ie

Our principal business is to provide advice and arrange transactions on behalf of

clients in relation to Life , Pensions & Investment plans.

A full list of insurers, product producers with which we deal is available on request.

Donald P McKenna & Associates acts as an Insurance

Intermediary which means that:

a) The principal regulated activities of the firm are provided on the basis of a fair & personal analysis of the market; and

b) You have the option to pay in full for our services by means of a fee.

Fair & Personal Analysis

The concept of Fair &; Personal analysis is derived from the Insurance Distribution

Mediation Directive 2019. It describes the extent of the choice of products and

providers offered by an intermediary within a particular category of life assurance,

and/ or a specialist area. The number of contracts and providers considered must be

sufficiently large to enable an intermediary to recommend a product that would be

adequate to meet a client’s needs.

The number of providers that constitutes ‘sufficiently large’ will vary depending on their relative importance in and share of that market. The extent of Fair & Personal analysis must be such that could be reasonably expected of a professional conducting business, taking into account the accessibility of information and product placement to intermediaries and the cost of the search.

In order to ensure that the number of contracts and providers is sufficiently large to

constitute a fair analysis of the market; we will consider the following criteria:

 The needs of the customer,

 The size of the customer order,

 The number of providers in the market that deal with brokers,

 The market share of each of those providers,

 The number of relevant products available from each provider,

 The availability of information about the products,

 The quality of the product and service provided by the provider,

 Cost, and

 Any other relevant consideration

In my firm, I will provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the life of the policies and we will explain to you the various restrictions, conditions and exclusions attached to your policy. However, it is your responsibility to read the policy documents, literature and brochures to ensure that you understand the nature of the policy cover; particularly in relation to Income protection and serious illness policies.

Specifically on the subject of permanent health insurance policies it is our policy to explain to you a) the meaning of disability as defined in the policy; b) the benefits available under the policy; c) the general exclusions that apply to the policy; and d) the reductions applied to the benefit where there are disability payments from other sources.

For a serious illness policy, we will explain clearly to you the restrictions, conditions and general exclusions that attach to that policy.

We provide advice to you in the following areas:

Life & Pension Insurance Products

Savings & Investments

Healthcare & Disability Cover

Lump Sum Investments

Pensions

And we can receive and transmit orders to the product producers listed in Appendix 1.

Life Assurance & related Products

Life Assurance companies provide products such as life Assurance, Serious Illness cover, Income Protection, Savings, Investments and Pensions.

Pensions /Personal or Company / PRSAs/ ARF’s/AMRF’s

Pensions are a tax efficient method of saving for retirement. These plans are generally available through all the companies listed in Appendix 1 and other specialist providers.

APPENDIX 1

Name of Producers

Aviva Life & Pensions

Irish Life

New Ireland

Phoenix Ireland

Royal London

Standard Life

Zurich

Nature of Products Life Assurance & related products

Savings , Pensions & Investment Plans.

Regular Reviews

It is in your best interests that you review, on a regular basis, the products which we may have arranged for you or have become your service Broker. As your circumstances change, your needs will change. You must advise us of those changes and request a review of the relevant policy 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 or failure to request a review, may result in you having insufficient insurance cover and/or inappropriate investments.

COMMISSION AND CHARGES

This firm will charge fees for advice and report preparation and for claim or maturity handling and will receive commission from the product providers as a transaction charge.

This Transaction Charge will cover such items as preparation of the necessary quotation and supporting documentation, administration, compliance and policy documentation checking and forwarding.

The Commission, if any, received either as a regular payment or a once off or as a special soft commission will not be off set against any fees which we charge.

We may also ask the product provider to build in a “Trail Based “ commission, this is usually added to the Fund management charge .

We do not undertake any work on a “Pro Bono” basis.

All work is subject to cost & therefore must be paid for.

DAILY RATE MODEL

The minimum day rate is €700.00, which allows for preparation, travel, consultation and report. This fee is charged as Administration support €150.00 & Professional Services €550.00 (updated June 2019). These fees will cover the advice on the nature of products and selection of suitable products. The Fee may be subject to change at the firm’s discretion.

SUSTAINABILITY FACTORS Investments/IBIPS/Pension Advice

When providing advice, we will consider the adverse impact of investment decisions on sustainability. As part of our research and assessment of products, we will examine the Product Providers literature to compare financial products and to make informed investment decisions about ESG products. We will at all times act in your best interests and keep clients informed accordingly. The consideration of sustainability risks can impact on the returns of financial products. As detailed above we are remunerated by commission and other payments from product producers. When assessing products, we will consider the different approach taken by product providers in terms of them integrating sustainability risks into their product offering. This will form part of our analysis for choosing a product provider.

CONFLICTS OF INTEREST

It is the policy of this firm to avoid conflicts of interest in providing you with insurance and investment services. If this is not possible, We will notify you as soon as practicable after we become aware of the conflict of interest and you may rest assured that you will be treated fairly where such a conflict is unavoidable.

COMPLAINTS

I ask that you make any complaint against our firm relating to investment business services provided by us in writing. We will acknowledge your complaint within 14 days and we will fully investigate it. The complaint will be logged & recorded both on your file & in our complaints manual. 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 and Pensions Ombudsman
Lincoln House, Lincoln Place, Dublin 2, D02 VH29.

Their web site is http://www.fspo.ie/

A full copy of our complaints procedure is available on request.

COMPENSATION SCHEME

INVESTOR COMPENSATION COMPANY LTD (ICCL) SCHEME

This firm is a member of the Investor Compensation Company Ltd (ICCL) Scheme established under the Investor Compensation Act, 1998. This legislation provides for the establishment of a compensation scheme and for the payment, in certain circumstances, of compensation to clients of firms covered by the Act. However, you should be aware that a right to compensation will only arise where money or investment instruments held by this company on your behalf cannot be returned either for the time being or for the foreseeable future and where you fall within the definition of Eligible Investor as contained in the Act. The amount of compensation payable is limited to the lesser of 90 per cent of the amount lost or €20,000.

I am a member of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd. We are also fully covered for Professional Indemnity Insurance as required by European Directive.

Brokers Ireland Compensation Fund As a member of the Brokers Ireland, Donald P McKenna t/a Donald P McKenna & Associates is also a member of the Brokers Ireland Compensation Fund Ltd. Subject to the rules of the scheme the liabilities of its member firms up to a maximum of €100,000 per client (€250,000 in aggregate) may be discharged by the Fund on its behalf if the member firm is unable to do so, where the above detailed ICCL (established by law) has failed to adequately compensate any client of the member.

Data Protection

Donald P McKenna & Associates complies with the requirements of the Data Protection Acts, 1988 and 2003. & GDPR requirements of 2018.

The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given.

We do not use the data for any other purpose. Please see my Data protection notice which is on my website www.donaldpmckenna.com

We would also like to keep you informed of, insurance, investment, taxation and any other services provided by us or associated companies with which we have a formal business arrangement; We may receive referrals from such firms and may advise them of any transactions arranged for you.

If you do not wish to receive such marketing information please tick the box in the Terms of Business acknowledgement letter.

We take your privacy seriously and will only use your personal information to provide the products and services you have requested from us.

However, from time to time we would like to contact you with details of other Life Pension and Investment products including offers and services that we provide.

If you consent to us contacting you for this purpose please tick to say how you would like us to contact you

Post ☐ Email ☐ Mobile/Telephone ☐ Text message ☐

I agree ☐

NOTE

You may opt out of this service at any time by writing to us at E-mail donald@donaldpmckenna.com.

Customer Signature ……………………………………