Terms

These Terms of Business set out the general terms on which Curran Financial Services will provide a range of services to you as a private client of the firm. Please take a few minutes to read through these and if you have any questions please contact us at the above address.

  • The full name and address of the firm and communication details are set out at the top of this document.
  • Ross Curran Financial Services Limited trading as Curran Financial Services is regulated by the Central Bank as an insurance intermediary, registered under the European Communities (Insurance Mediation, multi-agency intermediary and mortgage intermediary). Copies of our regulatory authorisation are available on request. The Central Bank maintains a register of all regulated firms. You may contact the Central Bank on 1890 777 777 or alternatively by visiting the website – www.centalbank.ie  to verify our credentials.
  • Our principal business is to provide advice and arrange transactions on behalf of clients in relation to investment, mortgage, life and pensions products. A full list of insurers and product providers with which we deal is attached in the appendix.
  • The regulated products for which Curran Financial Services has appointments to act in relation to are; all life assurance products and these include life assurance policies, specified serious illness and other protection type policies, pension policies, savings and investment life assurance policies, tracker bonds or similar instruments and UCITS, units in a unit trust or other collective investment scheme instruments, Personal Retirement Savings Accounts (PRSA) and mortgages. We may also provide you with products and services that are not regulated by the Financial Regulator.
  • Curran Financial Services may receive 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 ‘reason-why’ letter.
  • Curran Financial Services may also charge you a fee for the services provided. Our fee structure is detailed in the appendix. Should you instruct us to act on your behalf in an area not included in our fee schedule, we will provide you with a written estimate of the expected fee in advance of any work to be undertaken. This fee will be based on the complexity of the task, the personnel involved and the expected time to complete the task.
  • We 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. It is however, 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.
  • Any failure to disclose material information may invalidate your claim and render your policy void. Curran Financial Services is remunerated by commission and other payments from product producers on the completion of business. In certain circumstances, it will be necessary to charge a fee for services provided. In other circumstances where fees are chargeable, we will notify you in advance and agree the scale of fees to be charged. See the appendix for a breakdown of charges.
  • It is the policy of the firm 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.
  • Curran Financial Services will, if necessary, exercise its legal rights to receive any payments due to it from clients, for business services provided by it.
  • 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 known as the Policy Conditions.
  • Any complaint that you may have in relation to the business services provided should be communicated (in writing, telephone, e-mail or in person) 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 Curran Financial Services and a full response will be provided to you. We will aim to provide this response not later than 40 working days from receipt of your complaint. In the event that you remain dissatisfied with the firm’s handling of and response to your complaint you are entitled to refer your complaint to the Financial Services Ombudsman or the Pensions Ombudsman. Full details of our Complaints Procedure are available on request.
  • Curran Financial Services complies with the requirements of the Data Protection Acts, 1998 and 2003. 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. We would also like to keep you informed of insurance, investment, and any other services provided by us or associated companies with which we have a formal business arrangement, and which we think may be of interest to you. We would like to contact you by way of letter, email, telephone call or personal visit. If you do not wish to receive such marketing information please tick the box in the Terms of Business acknowledgement letter.

Compensation Scheme

We are members of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd. See below for details.

Investor Compensation Scheme

The Investor Compensation Act, 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act.

The Investor Compensation Company Ltd. (ICCL) was established under the 1998 Act to operate such a compensation scheme and our firm is a member of this scheme. Compensation may be payable where money or investment instruments owed or belonging to clients and held, administered or managed by the firm cannot be returned to those clients for the time being and where there is no reasonably 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; and
  • If it transpires that the firm is not in a position to return client money or investment instruments owned or belonging to the clients 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 lesser 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) 224 4955.

Appendix

The key to these services provided by each Product Provider is detailed below: –

CODE NATURE OF PRODUCTS
1 • Life Assurance Cover, Specified Serious Illness Cover, Hospital Cash, Accident Cover, Income Protection and Other Protection Policies.
• Lump-sum Investments in various types of non-linked, unit-linked and other collective investment funds.
• Regular contribution savings plans in various types of non-linked, unit-linked and other collective investment funds.
• Pension planning and retirement income plans
2 Regular contribution savings plans in various types of non-linked, unit-linked and other collective investment funds
3 Lump sum investments in various types of non-linked, unit-linked and other collective investment funds
4 Deposit Accounts
5 Home and Commercial Finance
6 Tracker Bonds

 

NAME OF PRODUCT PROVIDER NATURE OF PRODUCTS
New Ireland Assurance Company plc 1-4
Aviva Life Assurance Company 1-4
Cantor Fitzgerald 4-5
Friends First 1-4
Zurich Life 1-4
Independent Trustee Co Ltd 2
KBC 3-5
BCP Asset Management 5
Davy Ireland Ltd 2-5
Wealth Options 2,4,5

Fee Schedule:

Time Based Fees €150 per hour (known as ‘Hourly Rate’) & VAT(1)
Protection Policies (including Life Assurance, Serious Illness Cover & Income Protection) Commission (2)
Personal Pensions (including PRSA and insured executive plans) (3), (5) Commission / Num. Hours * Hourly Rate
Small Self Administered Schemes(4) Num. Hours * Hourly Rate
Self Invested Personal Pensions(4) Num. Hours * Hourly Rate
Lump Sum Investments Commission
Savings Plans Commission
Loans (5) Commission / Num. Hours * Hourly Rate

(1) VAT applies at 23%.

(2) At times, we receive an annual Trail Fee from product providers based on the value of the funds under management. This ranges between 0.25% per annum and 0.5% per annum depending on the company in question.

(3) In the case of pension plans (including SSAS and SIPP) an annual fee of 0.25% may be placed based on the value of the funds under management depending on the type of investment.

(4) In the case of SSAS and SIPP applications, the client will be invoiced for the entire setup fee by the provider. We then invoice the provider our fee from this. The total price will be agreed among all parties.

(5) For Personal Pensions and Loans, we will discuss the alternative pricing arrangements with the client and will endeavour to choose the cheaper option of the two.

Data Protection

Ross Curran Financial Services Ltd t/a Curran Financial Services comply with the requirements of the Data Protection Acts 1998, and 2003. 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. We would also like to keep you informed of insurance, investment, and any other services provided by us or associated companies with which we have a formal business arrangement, and which we think may be of interest to you. We may receive referrals from associated companies and may advise them of any transactions arranged for you. If you do not wish to receive such marketing information please tick the box below.

 

Curran Financial Services is bonded with Professional Indemnity Insurance by Lockton Insurances. We are a member of the Investor Compensation Scheme and a funding contributor of the Financial Services Ombudsman

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