Terms of Business – Version 14 Effective as of 10/03/2022

​

Conleith M. Quigley Financial Services Limited trading as Quigley Financial Brokers

​

These Terms of Business set out the general terms under which our firm will provide 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 we will be happy to clarify them. If any material changes are made to these terms we will notify you.

 

Authorisation with the Central Bank of Ireland

Conleith M. Quigley Financial Services Limited trading as Quigley Financial Brokers is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005; as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995 and as a Mortgage Intermediary authorised under the Consumer Credit Act, 1995 and as a Mortgage Credit Intermediary under  the European Union (Consumer Mortgage Credit Agreements) Regulations 2016. Copies of our regulatory authorisations are available on request. 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 Ref. No. C44087.

 

Codes of Conduct

Conleith M. Quigley Financial Services Limited 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 Services

Conleith M. Quigley Financial Services Limited is a member of Brokers Ireland.

​

Our principal business is to provide advice and arrange transactions on behalf of clients in relation to Investment, life, pensions, mortgages and general insurance products.

​

We are also authorised as deposit brokers. A full list of insurers, product producers and lending agencies with which we deal is available on request.

​

Conleith M. Quigley Financial Services Limited acts as a Financial Broker which means that:

​

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

​

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

​

Fair Analysis

The concept of fair analysis is derived from the Insurance Mediation Directive.  It describes the extent of the choice of products and providers offered by an intermediary within a particular category of life assurance, general insurance, mortgages, 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 the number of providers operating in the market for a particular product or service and their relative importance in and share of that market. The extent of fair 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

​

Investment, Life & Pensions

Conleith M. Quigley Financial Services Limited provides investments, life and pensions on a fair analysis basis i.e. providing services on the basis of a sufficiently large number of contracts and product producers available on the market to enable us to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs.

​

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.

​

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 IPI (income protection Insurance) and serious illness policies.

​

Specifically on the subject of income protection 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.

​

Deposits

Conleith M. Quigley Financial Services Limited provides deposits on a limited analysis basis i.e. providing services on the basis of a limited number of contracts and product producers available on the market.

​

Non-Life

Conleith M. Quigley Financial Services Limited holds an appointment in respect of home insurance with AVIVA (B-Live) scheme on a limited analysis basis. We will also offer assistance to you in relation to processing claims on policies taken out with us and in seeking renewal terms on your cover. To ensure continuity of cover, where you have an existing policy which is due to expire and where we have been unable to contact you, we may put continuing cover in force whilst awaiting your instruction. You will be liable for any premiums payable to the relevant insurer for the period of time between renewal and when we receive your instruction. You have the right not to avail of this service.

​

We also hold an appointment with Zurich as its non-exclusive intermediary for the purpose of introducing clients directly in relation to Home, Private Motor and Light Commercial Vehicle Insurance.

​

Mortgages

Through the lenders or other undertakings with which we hold an agency, Conleith M. Quigley Financial Services Limited can provide advice on and arrange mortgage products from the following range: fixed-rate loans, variable rate mortgages, capital & interest mortgages, interest only mortgages, endowment mortgages, pension mortgages and residential investment property.

 

Conleith M. Quigley Financial Services Limited provides mortgage advice on a fair analysis basis (providing services on the basis of a sufficiently large number of contracts and product producers available on the market to enable the firm to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs).

​

We will need to collect sufficient information from you before we can offer any advice on housing loans. This is due to the fact that a key issue in relation to mortgage advice is affordability and your credit report. Such information should be produced promptly upon our request.

​

Disclosure Information

Any failure to disclose material information may invalidate your claim and render your policy void.

​

Commission and Charges

Conleith M. Quigley Financial Services Limited is remunerated by commission and other payments from product producers or lenders on the completion of business. You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this may form part of the remuneration for initial and ongoing advice provided.

 

We reserve the right to charge additional fees if the number of hours relating to on-going advice/assistance exceeds 1 hr.

​

In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below for Investment, Life, Pensions and PRSAs. In other circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we will notify you in advance and agree the scale of fees to be charged if different from fees outlined below.

​

If we receive commission from a product provider, this may be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission will become the amount payable to the firm unless an arrangement to the contrary is made.

​

Where we are remunerated by commission payment by a product provider or lender on the completion of business on your behalf, this is paid provided that the business remains on the books for a minimum period called the claw-back period, which can vary depending on the type of product. Where business is redeemed / cancelled / replaced within the claw-back period resulting in a claw-back of commission / remuneration by the product provider or lender, we reserve the right to seek reimbursement of the claw-back commission amount from you.

​

Please note should we have meetings personally with you or by video-call, provide professional advice / quotes / recommendations / prepare compliant files / arrange transactions on your behalf in relation to mortgages, investments, insurances, pensions and general insurance products or any other service and you decide not to proceed there will be an hourly charge.

​

A summary of the details of all arrangements for any fee, commission, other reward or remuneration paid or provided to the intermediary which it has agreed with product producers is available on our website www.quigley.ie under the heading remuneration.

​

Investment, Life & Pensions

You may elect to deal with us on a fee basis.

Directors: €250 per hour

Financial Brokers: €150 per hour

Support Staff: €50 per hour

​

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will give an estimate of this rate in advance of providing you with services.

​

Personal Retirement Savings Accounts (PRSAs) – Fees

Where advice is requested for PRSAs, the following hourly fees will apply:

Directors: €250 per hour

Financial Brokers: €150 per hour

Support Staff: €50 per hour

​

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will give an estimate of this rate in advance of providing you with services.

​

Mortgages

Submitting Application to a Lender: €350

At Loan Offer: €650

​

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will give an estimate of this rate in advance of providing you with services.

​

We may receive up to 1% (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender and will not be offset against the fee, either in part or in full. The actual amount of commission will be disclosed at a later stage in the ESIS (European Standardised Information Sheet) in the Loan Offer.  Information on the variation in levels of commission payable by the different creditors providing credit agreements being offered are available on our website www.quigley.ie under remuneration.

​

Please note that lenders may charge specific fees in certain circumstances and if this applies, these fees will be specified in your Loan Offer. You have the right to pay a fee separately and not include it in the loan. Typically, this situation arises in relation to specialist lending.

 

Our fees will be agreed with you in advance of any business being conducted, we can receive mortgage fees on your authority from your solicitor out of the drawdown of the loan cheque.

 

Sustainable Factors - Investment/IBIPs/Pension Advice

When providing advice, the firm considers the adverse impact of investment decisions on sustainability. As part of our research and assessment of products, the firm will examine the Product Providers literature to compare financial products and to make informed investment decisions about ESG products. The firm will at all times act in the client’s best interests and keep clients informed accordingly. The consideration of sustainability risks can impact on the returns of financial products.

 

Regular Reviews

It is in your best interests that you review, on a regular basis, the products which we have arranged for you. 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 pensions.

 

Conflicts of interest

It is the policy of our firm to avoid conflicts of interest in providing services to you. However, where an unavoidable conflict of interest arises we will advise you of this in writing before providing you with any service.

​

Default on payments by clients

My firm will exercise its legal rights to receive payments due to it from clients (fees and insurance premiums) for services provided. In particular, without limitation of the generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client.

​

Product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.

​

Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you do not maintain your agreed repayments.

​

Complaints

We ask that you make any complaints in writing. We will acknowledge your complaint within five business days and we will fully investigate it.

​

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 Ombudsman or the Pensions Ombudsman. A full copy of our complaints procedure is available on request.

​

Data Protection

Conleith M. Quigley Financial Services Limited complies with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018. Conleith M. Quigley Financial Services Limited is committed to protecting and respecting your privacy. We wish to be transparent on how we process your data and show you that we are accountable with the GDPR in relation to not only processing your data but ensuring you understand your rights as a client. 

​

The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice, this will be given to all our clients at the time of data collection.

​

We will ensure that this Privacy Notice is easily assessable. Please refer to our website http://www.quigley.ie/privacy-statement.html if this medium is not suitable we will ensure you can easily receive a copy by; hard copy or via email.

​

Please contact us at info@quigley.ie if you have any concerns about your personal data.

​

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.