Compliance: JFL Financial Advisors

"The Pension & Investment People"

Independent Irish Financial Advisors

COMPLIANCE & REGULATORY INFORMATION

Terms Of Business

These Terms of Business set out the basis on which John F. Loughrey & Associates Ltd. will provide insurance, mortgage and investment business services to you.
The registered office of John F. Loughrey & Associates Ltd. is Crossview House, Letterkenny, Co. Donegal. Tel: 074-912-4002 Fax: 074-912-4024 email: info@jfl.ie

CONSUMER & REGULATORY INFORMATION
John F. Loughrey & Associates Ltd. is regulated by the Central Bank of Ireland as a Multi-Agency Intermediary under the IIA 1995; a Mortgage Intermediary authorised under the Consumer Credit Act, 1995 and as an Insurance Intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005.
The Central Bank of Ireland holds registers of regulated firms. You may contact them on (01) 2246000 or visit their website on www.financialregulator.ie to verify our credentials.

DESCRIPTION OF SERVICES

John F. Loughrey & Associates Ltd. arranges and provides advice in relation to Life Assurance (life, serious illness & income Protection) Pensions, Investments, Savings, Mortgages and Deposits.
John F. Loughrey & Associates Ltd. does not have any tied relationships with any institution that would compromise our ability to offer you independent advice and choice.
John F. Loughrey & Associates Ltd. can receive and transmit orders to the following product producers with whom it holds a written letter of appointment:
Life: Caledonian Life, Canada Life, Zurich, Friends First, Hibernian Aviva, Irish Life Assurance Company Ltd., New Ireland Assurance Company Limited & Standard Life.
Mortgages: Allied Irish Banks plc, KBC Mortgage Bank, Irish Life & Permanent plc, ICS Building Society,Signal flow Services Ltd., Seniors Finance Ireland Ltd., Capital Home loan’s Ltd., Haven Mortgages Ltd. and Seniors Money Ireland Ltd..
Deposits: Anglo Irish Bank, Investec Bank (UK) Ltd.,KBC Bank, EBS & PTSB.
Others: BCP Asset Management, Liberty Asset Management, Oregon Financial, KBC Bank, Wealth Options, Merrion Stockbrokers, Bloxham, Hibernian General & Hibernian Aviva Health.

CONFLICTS OF INTEREST

It is our policy to avoid any conflict of interest when providing business services to our clients. However should an unavoidable conflict arise we will advise you of this as soon as we become aware of the conflict of interest. If you have not been advised of any such conflict you are entitled to assume that none arises.

COMPENSATION SCHEME

John F.Loughrey & Associates Ltd. is a member of the Investor Compensation Company Ltd (ICCL) established under the Investor Compensation Act 1998.The scheme allows for payment in certain circumstances of compensation to certain clients of firms( eligible investors) covered by the act. A right to compensation would only arise where client money or investment instruments held by this company on your behalf cannot be returned either for the time being or for the foreseeable future, and where the clients fall within the definition of eligible investor as contained in the act. In the event that a right to compensation is established, the amount payable will be the lesser of 90% of your loss which is recognised as being liable for compensation or €20,000.
As a member of the Irish Brokers Association (IBA), John F. Loughrey & Associates Ltd is also a member of the IBA Compensation Fund Ltd. Subject to the rules of the scheme the liabilities of its member firms up to a maximum of €100,000 per client (€250,000 in aggregate) may be discharged by the Fund on its behalf if the member firm is unable to do so, where the above detailed ICCL (established by law) has failed to adequately compensate any client of the member.
Deposit Guarantee Scheme- the Minister for Finance increased the statutory limit for the Deposit Guarantee Scheme for Irish banks and Building Societies from €20,000 to €100,000 per depositor per institution. On the 5th November 2008 the Irish Government then announced that all deposits held in Irish Banks are 100% fully covered until 28th September, 2010. This was extended until 31/12/2010.Anglo Irish Bank and PTSB Bank whom we hold deposit account agencies with are both part of this scheme. Bank of Scotland Ireland (t/a Halifax) and Investec Bank (UK) Ltd are covered up to €100,000 per depositor and fall under UK regulation.
John F.Loughrey & Associates Ltd also holds Professional Indemnity Insurance for errors and omissions.

HANDLING CLIENT’S MONEY

John F. Loughrey & Associates Ltd. will accept payments in respect of business services in the circumstances permitted under Section 25G of the Investment Intermediaries Act, 1995.Any monies paid directly to us are placed in a ‘client premium account’ and transmitted to the relevant product producer We do not hold money received in the course of providing business services to you. Accordingly any money that we receive on your behalf will be forwarded to you, a third party nominated by you or the product provider.

RECEIPTS

John F. Loughrey & Associates Ltd. shall issue a receipt for all money received. This is required pursuant to Section 30 of the Investment intermediaries Act, 1995. These are issued with your protection in mind and should be retained safely.

DATA PROTECTION

John F. Loughrey & Associates Ltd. are Data Controllers as defined in the Data Protection Act 1988 and 2003.We collect your personal details in order to provide the highest standard of service to you. We take great care with the information provided: taking steps to keep it secure and to ensure it is only used for legitimate purposes. To fulfil these objectives we may share information with other affiliated professionals. The information and data provided to our office may be used to advise you of products and services we may offer from time to time. You have the right at any time to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 (as amended or re-enacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected.

REVIEW

On becoming a client of John F. Loughrey & Associates Ltd. and transacting business we endeavour to contact you on an annual or bi-annual basis for a review of this business. It is in your best interests that you review, on a regular basis, the products which we have arranged for you also. 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 of changes in your circumstances may result in you having insufficient insurance cover and/or inappropriate investments.

COMPLAINTS

The company has a written procedure in place for considering and handling of complaints. We ask that you make any complaint against our firm relating to Financial Services provided by us in writing for the attention of Arthur Connor. (General Manager) We will acknowledge your written complaint within 5 working days and we will fully investigate it. Updates will be given every 15 working days and a report issued to you on completion. Our aim is to provide you with a comprehensive response not later than 30 working days from receipt of your complaint. 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. www.financialombudsman.ie

REMUNERATION POLICY

In most circumstances, commissions and/or other benefits may become payable to us on completion of business with the product providers already listed. This payment is taken into account in the quotation provided to you and summary information is contained in the product information document. We will provide you with this information at point of sale and help you understand the details. Full details will be issued in the cooling off notice issued by the product provider.
In relation to mortgage business, we may receive commission from the lenders listed above at a rate of up to 1% of the value of the amount borrowed. Our clients receive the same rates as if they went directly to the lender and benefit from independent mortgage advice ensuring you get the most suitable mortgage for you at no extra cost.
In the event that you terminate any contract giving rise to commission at an early stage in its operation, we may have to repay all or part of the commission to the product provider. We reserve the right to ask you to contribute to any such repayment.
In certain circumstances, it will be necessary to charge a fee for services provided. An example of this would be where commissions would not be payable in respect of business completed or for payment in respect of complex cases to reflect value and specialist skills. The fee in question should this arise would be confirmed in writing prior to the commencement of any business.

INVESTMENT ADVICE

There are risks attached to any investment and our own recommendations do not give an express or implied warranty or guarantee relating to the financial return of a particular investment.
We will put our advice in writing and issue a reasons why letter which will include where necessary, a clear statement of the client’s investment objectives and product suitability.