Terms of Business

These Terms Of Business set out the basis on which Gerard Sheehy provides business services to you as an individual private client of the firm. Please take a few minutes to read through these and if you have any questions we will be happy to answer them.
The full name and address of the firm and communication details are set out on the contact us pages on this website..

Consumer Information

Gerard Sheehy is regulated by the Central Bank of Ireland and a copy of the firm’s Statement of Authorised Status is available on application. If you would like to check the Authorisation Status of this firm, you can contact the Central Bank by phone on 1890 777 777 or visit their website at
www.centralbank.ie

Description of Services

  1. advising you in relation to the nature of each of the products set out below and advising you as to which product is suitable for your needs.
  2. identifying and selecting a suitable product producer
  3. receiving and transmitting orders on your behalf for a product or products to one or more product producers listed in Appendix 1.
The products for which Gerard Sheehy has appointments to act in relation to are all life assurance products and these include Pension policies, Savings and Investment Life Assurance policies, PRSA's and Protection type policies.

Gerard Sheehy is regulated by the Central Bank of Ireland.

Remuneration Policy

Gerard Sheehy receives 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 cooling-off letter.

In the event of advice being offered that Gerard Sheehy would not be remunerated by the standard commission terms offered by providers, this would be made known to you, and agreed with you, prior to any advice being given or action taken. The basic hourly rate is €175.00

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. These fees will cover the advice on the nature of the products and selection of suitable products. Where the client selects a product issued by a provider in Appendix I, commission may be payable and used to offset the fee due. Where the commission is greater than the fee due, the commission will become the amount payable to the intermediary except where an arrangement to the contrary is made.

Conflicts of Interest

It is the policy of Gerard Sheehy 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.

Gerard Sheehy will, if necessary, exercise his legal rights to receive payments due to it from clients for business services provided by it and, to be reimbursed for any value obtained by the firm for clients arising from payments by the firm on behalf of clients who subsequently default in any payments due to the firm.

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.

Complaints Procedure

We ask that you make any complaint against our firm, relating to services provided by us, in writing. We will acknowledge your complaint within 5 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.

 Client Comfort

Gerard Sheehy maintains an €1,500,000 Professional Indemnity Insurance for all service activities

Investment Compensation Company Limited

Gerard Sheehy is a member of the Investor Compensation Scheme, which provides certain remedies to eligible clients on default by the firm. In the event that a right to compensation has been established, the amount payable is 90% of your loss or €20,000, whichever is the lesser.

Codes of Conduct

Gerard Sheehy 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

Appendix 1

Product Producers from which Gerard Sheehy holds written letters of appointment to act as an intermediary:

  • Caledonian Life
  • Canada Life
  • Zurich Life
  • Friends First
  • Aviva Life and Pensions
  • Irish Life
  • Merrion Stockbrokers Ltd
  • Quinn Life
  • Scottish Provident
  • Scottish Mutual
  • Standard Life
  • Wealth Options

Nature of products from Listed Providers

  • Pensions
  • Personal Retirement Savings Accounts
  • Savings Plans
  • Investment Products
  • Life Assurance
  • Specified Illness Cover
  • Income Protection
  • Syndicated Property Funds
  • Direct Property Investments (which are not regulated by the Central Bank of Ireland).

Copyright 2011 - Gerard Sheehy. All Rights Reserved.
Gerard Sheehy is regulated by the Central Bank of Ireland