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» Terms of Business |
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Terms of Business |
Authorised Status
Lorraine Donegan t/a Donegan Financial Service is regulated by the
Financial Regulator as a Multi Agency Intermediary and Mortgage
Intermediary.
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Insurance Undertakings
In relation to products provided by the producers detailed below, the
services that the firm is authorised to provide are:
- Advising you in relation to the nature of the products and advising you as to which product is suitable to your needs.
- Receiving and transmitting orders on your behalf for product(s).
The products, for which Donegan Financial Services has appointments
to act in relation to you, are all life assurance products and these include
life assurance policies, specified serious illness and other protection
type policies, pension policies, and savings and investment life
assurance policies.
Donegan Financial Services holds an appointment from the following
Life Assurance Companies:
- Assurant
- BCP Asset Management
- Caledonian Life
- Canada Life
- CHC Capital
- Dolment Stockbrokers
- Eagle Star
- Hibernian Life
- Insurety
- Irish Life
- Scottish Provident via Phoenix Ireland
- Standard Life
- New Ireland
- Friends First
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Mortgage Undertakings
In respect of mortgage undertakings, Donegan Financial Services
holds a letter of appointment from Mortgage Times Ireland. This enables
Donegan Financial Services to arrange your mortgage through
one of the following lenders:
- Allied Irish Finance
- Bank of Ireland
- Bank of Scotland
- First Active
- ICS Building Society
- IIB Homeloans
- Irish Nationwide Building Society
- Permanent tsb
- Seniors Money
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Remuneration Policy
Donegan Financial Services is remunerated on a commission basis for
orders transmitted, full details of which are included in the product information
document distributed to you prior to a proposal being completed.
Donegan Financial Services may also opt to charge a fee in certain circumstances.
If this occurs, Donegan Financial Services will appraise you fully of
the cost involved and a signed authority form will be obtained from you.
In respect of mortgage undertakings Donegan Financial Services is in receipt
of mortgage commission from Mortgage Times at a rate starting @
0.3% to 0.7% of the amount borrowed.
In the case of Life Assurance business, Donegan Financial Services is remunerated
on a commission basis for orders transmitted to insurance companies.
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Investor Compensation Scheme
Donegan Financial Services is a member of the Investor Compensation
Scheme, which provides certain remedies to eligible clients on default by
the firm . Your legal rights against the firm are not affected by this scheme.
Under section 3B (1) if the Investor Compensation Act 1998, I wish to draw
your attention to the following:
The investor Compensation Act 1998 provides for the establishment
- of compensation to certain clients (known as eligible investors)
- of authorised investments firms as defined in that act.
This firm is a member of the compensation scheme.
Compensation may be payable where money or investment instruments
owed or belonging to clients and held of in the case of
investment instruments, administrated or managed by this firm
cannot be returned to those clients for the time being 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
- if it transpires that this firm is not in a position to return client money of Investment instruments owned or belonging to the clients of the firm: and -to the extent that the clients loss is a recognised for the purposes of the Act.
Where an entitlement to compensation is established, the compensation
is 90% of the amount of the clients loss which is recognised
for the purposes of the Investor Compensation Act 1998 or Compensation
of up to €20,000
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Complaints Procedure
A customer defines a complaint as an expression of dissatisfaction,
whether justified or not. Complaints may come from a number of different
sources and may be received in writing by telephone, email of a
personal visit.
Our policy
- Our customer complaints are dealt with fairly and all problems are resolved as soon as possible.
- Where customers remain dissatisfied with the outcome of our efforts to resolve their complaint they are notified to their right to refer their grievance to the Irish Financial Services Regulatory Authority.
All complaints should be made in writing and addressed to:
Lorraine Donegan
Donegan Financial Services
Unit 1, Block D, Naas Industrial Estate
Naas
Co. Kildare.
All complaints will be dealt with as follows:
- The complaint must after initial contact be made in writing.
- The complaint is recorded and documented in the customers file.
- The complaint is acknowledged within 14 days of the receipt of the complaint in writing. A copy is placed on the customers file.
- The complaint is investigated and a response is sent to the customer no later than 21 days from receipt if initial complaint.
- Any subsequent or follow up queries will be dealt with within 10 days of receipt of enquiry.
- Where it has not proved possible to resolve the customers complaint, and the customer remains dissatisfied with the outcome and the firm believes it cannot make any further progress on the matter the customer will be advised of this and they are entitled to refer their complaint for the consideration to the Irish Financial Services Regulatory Authority.
- All correspondence in relation to customer complaints will be retained for a minimum period of six years from the date of the last correspondence about the matter.
- The firm will provide information about the subject matter of the complaint to the Irish Financial Serviced Regulatory Authority, if requested to do so when a complaint has been referred to the Authority by a customer.
- The complaint log will be retained permanently and will be available for inspection by the Irish Financial Services Regulatory Authority.
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Conflict of Interest Policy
It is the policy of the firm to avoid any conflict of interest when providing
business services to its clients. However when an avoidable 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.
Donegan Financial Services will if necessary exercise its legal rights
to receive any payments due to it from clients for business services
provided by it and to be reimbursed for any value obtained by the firm
for client 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 arrange for your benefit. Details of
these provisions will be included in your product terms and conditions.
In order to comply with the Financial Regulator we ask
that you to sign to confirm you have received our Terms
of Business
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