Consumer Protection

1. You want confidence

  • You want confidence in the advice you are taking.
  • You want confidence in the companies with whom you place your money.
  • You want to know that your adviser is accountable
  • You benefit from several layers of protection, in dealing with us, as we are a regulated firm, and you’ll see these described in the paragraphs below.

2. Layers of Protection.

2.1 Procedure and Reputation

2.2 Professional Competency

2.3 Professional Indemnity Insurance

2.4 Experience

2.5 Progressive Regulation

2.6 Protecting Investors – Investor Compensation Company Ltd. (ICCL)

2.7 Financial Services Ombudsman

2.1 Procedure and Reputation
In any important service, you will be best served by firms who follow professional best practice, and this is at the core of what we do.    To build sustainable client relationships over the longer term we must work in a way that shows that your best interests are at the fore at all times.    As a small firm, we rely on reputation and referrals, so we have strong procedures in place to ensure that this is done.   These procedures are underpinned by the Consumer Protection Code issued by the Central Bank of Ireland, our regulator.  You can review the most up to date version of this code by clicking the following link Consumer Protection Code

2.2 Professional Competency
All members of staff who provide advice or information to clients are required to have appropriate qualifications.    We are required to keep a register of the qualifications of each staff member and to ensure that they attend regular “Continuous Professional Development” seminars to keep their qualifications up to date.    This is backed up by the Central Bank of Ireland Minimum Competency Requirements, to which we are subject.    You’ll see the qualifications held by our team in our Meet the Team section.

2.3 Professional Indemnity Insurance
We hold professional indemnity insurance in accordance with regulations.  Please click here to view our current policy schedule.

2.4 Experience
There is simply no substitution for experience in any sphere of human endeavor.   The issues, queries, problems and case studies of the last thirty years go into formulating our advice. Ultimately this may be your best protection of all.

2.5 Progressive Regulation
The role of policing the financial services industry in Ireland falls mostly to the Central Bank of Ireland.    The role of the Central Bank is constantly evolving and they are continuously developing the manner in which we are regulated.   The Central Bank’s role in consumer protection as currently in place is described on their website Consumer Protection Code

We are regulated by the Central Bank of Ireland, under a number of statutes in relation to our roles as;

  • Investment intermediary – under section 26 of the Investment Intermediaries Act 1995, which covers most of the products provided the life insurance industry, and bank deposits.
  • Insurance intermediary – under European Communities (Insurance Mediation) Regulations, 2005
  • Mortgage intermediary – pursuant to Section 151 A (1) of the Consumer Credit Act 1995

You will see our firm on the registers maintained by Central Bank for these categories.

2.6 Protecting Investors – Investor Compensation Company Ltd. (ICCL)
The ICCL is a company established under the Compensation Act, 1998.   Its main purpose is to insure that eligible clients of a failed investment firm receive compensation.   The IICL aims to operate a financially sound scheme so that it is in a position to pay, in a prompt manner, statutory levels of compensation to clients of failed investment firms.   As we generally do not handle client cash, the chances of any claim arising are remote, however, there is a second larger fund operated to partially protect consumer against failure of investment product providers.   You can see full details on www.investorcompensation.ie

2.7 Financial Services Ombudsman
If you have a complaint against a financial services undertaking or firm, which you cannot resolve directly with that firm, and you are a consumer, you can refer your complaint to the Ombudsman who has powers to adjudicate and make binding judgements. You need to have exhausted the complaints procedure of the firm you are dealing with, before the Ombudsman will review your complaint.  Further details can be found on www.financialombudsman.ie

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