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These terms of business set out the general terms under which Financial Architects Ltd t/a Financial Architects (henceforth known as the firm) will provide insurance, mortgage and investment business services to you and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries, please contact the undersigned who will be happy to clarify matters. If any material changes are made to these terms we will notify you.
Contact:
Derek Maguire: 087 9915180 / 01 802 7670
Michelle Dempsey: 086 3346274 / 01 802 7670
Lorraine Bryson: 01 802 7670
STATUS WITH THE FINANCIAL REGULATOR
Financial Architects Ltd t/a Financial Architects is a Tied Insurance Agent of Hibernian Life & Pensions Ltd. Hibernian Life and Pensions Ltd is Regulated by the Financial Regulator. Financial Architects Ltd is regulated by the Financial Regulator. A copy of our Mortgage Broker and Tied Agency status is attached to the document. Our Regulator Number is 38744, you can verify our regulatory status by telephoning the Regulator at (01) 4344000.
OUR SERVICES
The firm is an Insurance and Mortgage Broker, also offering payments protection. Financial Architects are members of the Irish Brokers Association (IBA). The firm holds written appointments from the product providers set out in Appendix 1 to this document.
LIFE & PENSIONS
Hibernian Life & Pensions Ltd provide products such as life cover, serious illness, savings, investments and pensions. Depending on your individual circumstances, the firm may provide you with advice and arrange policies on your behalf. You may, however, have particular areas of interest and, in this case, we will be happy to give more detailed advice in these areas. The firm can give you a choice of different life and pension products from Hibernian Life & Pensions Ltd and on your instruction we can receive orders in such investment instrument and transmit those orders on your behalf to this insurer. With your agreement, we may review the policies you take out on a periodic basis to ensure that you are kept informed as to their benefit and to check whether they are still suitable for your needs. We will also 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.
MORTGAGES
The firm is also authorised by the Regulator as a Mortgage Intermediary.
We provide advice in relation to mortgages and can arrange mortgage lending with those mortgage lenders with whom we have an agency as listed in Appendix 1.
COMMISSIONS & CHARGES
The firm is remunerated by commission and other payments from the completion of business with the product providers listed in Appendix 1. In very rare 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. In certain circumstances some product providers do charge an arrangement fee for a Mortgage Application.
Life Fees
You may elect to deal with us on a fee basis.
Advisor Fees: €150 per hour
Support Staff: €40 per hour
Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will give you an estimate of this rate in advance of providing you with these services. If we receive commission from a product provider, this will be offset against the fee which we will charge you.
CONFLICTS OF INTEREST
It is the policy of the firm to avoid conflicts of interest in providing you with financial services. If this is not possible, you will be notified in writing in advance of completing such services.
DEFAULT ON PAYMENTS BY CLIENTS
Product Providers may with draw benefits or cover in the event of default on payments due on any products arranged for you. Details of such provisions may be found in the policy documents and product terms.
COMPLAINTS
The firm ask that you make any complaint against our firm relating to business services provided by us in writing. We will acknowledge your complaint within 5 business days, We will provide you with the name of the person handling the complaint and updates will be given to you at intervals of 20 days. We will attempt to resolve any complaints within 40 days. 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 or response to your complaint, you are entitled to refer the matter to the Financial Services Ombudsman. A full copy of our complaints procedure is available on request.
COMPENSATION SCHEME
The firm is a member of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd. – see Appendix 2 for details.
Appendix 1
LIST OF PRODUCT PRODUCERS
Financial Architects Ltd holds agencies with the following companies in relation to our Mortgage Business:
First Active plc IIB Homeloans Ltd
Springboard Mortgages General Mortgage Corp (Ire) Ltd
Start Mortgages Haven Mortgages Ltd
EBS Building Society Irish Life and Permanent (Permanent TSB)
ICS Building Society Bank Of Scotland Ltd
LIST OF PRODUCT PROVIDERS (LIFE ASSURANCE)
Hibernian Life and Pensions Ltd
List of Product Producers (Payments Protection)
Assurant Solutions
Appendix 2
Investor Compensation Scheme
The investor Compensation Act, 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation of certain clients (Known as eligible investors) of authorised investment firms, as defined in that 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 Ac, 1998 or Compensation for up to €20,000.
Financial Architects Ltd is a Tied Insurance Agent of Hibernian Life and Pensions Ltd and therefore holds an agency with Hibernian Life and Pensions Ltd in relation to our Life, Pensions & Investments Business.
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