Disclaimer
Financial Wellbeing provides information concerning parents of children with special needs. Every reasonable effort has been made to ensure that the information provided is reasonably comprehensive, accurate and clear. However, the information provided or via our website may not necessarily be completely comprehensive or accurate, and, for this reason, it is provided on an “AS IS” and “AS AVAILABLE” basis.
If you think you may have noticed any error or omission, please let us know by contacting info@financialwellbeing.ie. It is our policy to correct errors or omissions as soon as any error or omission has been established to our satisfaction.
General Information Only
While Financial Wellbeing makes every reasonable effort to provide information that is as comprehensive, accurate and clear as possible, the information provided is necessarily of a general nature and may not address the specific circumstances of a particular individual.
Simple Descriptions
Responses to queries, and the contents of, and documents on, or available from Financial Wellbeing, describe schemes and services as simply as possible. These schemes and services may involve technically complex issues (for example, legal issues). The information provided or the simple descriptions available may not address all such issues, or address them in sufficient detail for your particular needs.
Your Particular Circumstances
If you wish to find out what your particular position is in your own particular circumstances, or if have an enquiry about any particular entitlements or services that may be available to you, you may need to seek appropriate professional, or other, advice and/or contact the particular agency or agencies responsible.
No Legal or Other Professional Advice Given
In particular, the information provided is not legal advice or professional advice of any other kind, and should not be considered to be such, or relied or acted upon in that regard. If you need legal or other professional advice, you should consult a suitably qualified person.
Information Only
Financial Wellbeing provides information on, and on the availability of, schemes and services. It is not responsible for the schemes or services, nor for the way in which such schemes or services may be operated and administered in practice.
References to External Information / Organisations
Our documents and website sometimes refer or links to external organisations or sites over which Financial Wellbeing has no control and accepts no responsibility. Any references or links to external organisations or websites are provided as a matter of convenience only. They should not be taken as an endorsement of the contents of those external websites or of those organisations.
Our documents and website may contain third party owned content (e.g. articles, image libraries, data feeds or abstracts) and may also include hypertext links to third party owned websites. We provide such third party content and links as a courtesy to our users. Links are provided for your information only. We have no control over any third party owned websites or content referred to, accessed by or available on this website. To the extent permitted by law, therefore, we do not endorse, sponsor, recommend or otherwise accept any responsibility for such third party websites or content, or for the availability of such websites. In particular, we do not accept any liability arising out of any allegation that any third party owned content (whether published on this, or any other, website) infringes the intellectual property rights of any person, or any liability arising out of any information or opinion contained on such third party website or content.
General Disclaimer, Representations, Warranties and Terms
To the extent permitted by law, Financial Wellbeing assume and accept no responsibility for, and give no guarantees, undertakings or warranties concerning, the accuracy, clarity, comprehensiveness, completeness, timeliness, fitness-for-purpose, up-to-date nature, reliability, or otherwise, of the information provided, and do not accept any liability whatsoever in respect of, or arising from, any errors or omissions or any reliance on, or use of, such information.
Whilst we have taken reasonable care in compiling our documents and website, to the extent permitted by law, we accept no responsibility for any loss or damage claimed to arise from any reliance on, or action taken by any person or organisation, wherever they are based, as a result, direct or otherwise, of, information contained in, or accessed through, Financial Wellbeing, whether such information is provided by us or by a third party.
Basis of Use
By using our services, you agree that the use of information obtained or downloaded from or through Financial Wellbeing is at your sole discretion and risk.
Translations
The Financial Wellbeing accepts no responsibility for the accuracy of the translations provided on our website.
Headings and Sub-Headings
The headings and sub-headings used in this disclaimer are for general ease of reading and navigation only, and do not affect the content or interpretation of the text in any way.
Financial Wellbeing
Allan Mathew Cuthbert trading as Financial Wellbeing is regulated by the Central Bank of Ireland. 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.
Authorisation with the Central Bank of Ireland
Allan Mathew Cuthbert trading as Financial Wellbeing (C51262) is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018. 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.
Codes of Conduct
Allan Mathew Cuthbert trading as Financial Wellbeing 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
Allan Mathew Cuthbert trading as Financial Wellbeing is a member of Brokers Ireland. Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life & pensions products. A full list of insurers, product producers and lending agencies with which we deal is available on request.
Broker
Allan Mathew Cuthbert trading as Financial Wellbeing acts as a Broker and the principal regulated activities of the firm are provided on the basis of a fair and personal analysis of the market; and you have the option to pay in full for our services by means of a fee.
Fair & Personal Analysis
The concept of fair and personal analysis describes the extent of the choice of products and providers offered by an intermediary within a particular category of life assurance, 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 and personal 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
Life & Pensions
Allan Mathew Cuthbert trading as Financial Wellbeing provides life assurance and pensions on a fair and personal 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 PHI and serious illness policies.
Specifically, on the subject of permanent health 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.
Disclosure of Information
Any failure to disclose material information may invalidate your claim and render your policy void. Allan Mathew Cuthbert trading as Financial Wellbeing 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 forms part of the remuneration for initial advice provided. We reserve the right to charge additional fees if the number of hours relating to on-going advice/assistance exceeds 5-hrs.
In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below for life business and Standard 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 writing in advance and agree the scale of fees to be charged if different from fees outlined below.
If we receive commission from a product producer, this may be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission may become the amount payable to the firm unless an arrangement to the contrary is made. Where it is not possible to provide the exact amount, we will provide you the method of calculation of the fee. We are remunerated by commission and other payments from product producers or lenders on the completion of business. A summary of the details of all arrangements for any fee, commission other reward or remuneration paid or provided to us which have agreed with product providers is available on our website – www.financialwellbeing.ie
Financial Planning Fees
We charge a fee of €300 to create a financial plan for you.
Life & Pension Fees
You may elect to deal with us on a fee basis. Where advice is requested for life or pension product, the following hourly fees will apply:
Advisor fees: €80 – €100 per hour.
PRSAs – Fees
Where advice is requested for Personal Retirement Savings Accounts, the following hourly fees will apply:
Advisor fees: €80 – €100 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, our scale of fees for such cases range from a minimum of €50 per hour to a maximum of €80 per hour. We will notify you in advance and agree the scale of fees to be charged.
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.
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. A full copy of our conflicts of interest policy is available on request.
Default on Payments by Clients
Our 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.
Complaints
Whilst we are happy to receive verbal complaints, it would be preferable that any complaints are made, in writing. We will acknowledge your complaint in writing within 5 business days and we will fully investigate it. We shall investigate the complaint as swiftly as possible, and, the complainant will receive an update on the complaint at intervals of not greater than 20 business days starting from the date on which the complaint is made. 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 Pensions Ombudsman (FSPO). A full copy of our complaints procedure is available on request.
Data Protection
Allan Mathew Cuthbert trading as Financial Wellbeing. Is subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018. Allan Mathew Cuthbert trading as Financial Wellbeing 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 assessible. Please refer to our website www.financialwellbeing.ie if this medium is not suitable we will ensure you can easily receive a copy by; hard copy. Please contact us at allan@financialwellbeing.ie if you have any concerns about your personal data.
New Business & Renewal
If you have taken out a life insurance contract, you may cancel the contract by giving notice in writing to us within 30 days after the date you were informed the contract is on cover. The giving of notice of cancellation by you will have the effect of releasing you from any further obligation arising from the contract of insurance. The insurer cannot impose any costs on you other than the cost of the premium for the period of cover. This right to cancel does not apply where, in respect of life insurance the contract is for a duration of six months or less.
The consumer is under a duty to pay their premium within a reasonable time, or otherwise in accordance with the terms of the contract of insurance. A court of competent jurisdiction can reduce the pay-out to the consumer where they are in breach of their duties under the Act, in proportion to the breach involved.
Post Contract Stage and Claims
An insurer may refuse a claim made by a consumer under a contract of insurance where there is a change in the risk insured, including as described in an “alteration of risk” clause, and the circumstances have so changed that it has effectively changed the risk to one which the insurer has not agreed to cover.
Any clause in a contract of insurance that refers to a “material change” will be interpreted as being a change that takes the risk outside what was in the reasonable contemplation of the contracting parties when the contract was concluded.
The consumer must cooperate with the insurer in an investigation of insured events including responding to reasonable requests for information in an honest and reasonably careful manner and must notify the insurer of the occurrence of an insured event in a reasonable time. The consumer must notify the insurer of a claim within a reasonable time, or otherwise in accordance with the terms of the contract of insurance. If the consumer becomes aware after a claim is made of information that would either support or prejudice the claim, they are under a duty to disclose it. The insurer is under the same duty.
If the consumer makes a false or misleading claim in any material respect (and knows it to be false or misleading or consciously disregards whether it is) the insurer is entitled to refuse to pay and to terminate the contract. Where an insurer becomes aware that a consumer has made a fraudulent claim, they must notify the consumer advising that they are avoiding the contract of insurance. It will be treated as being terminated from the date of the submission of the fraudulent claim. The insurer may refuse all liability in respect of any claim made after the date of the fraudulent act, and the insurer is under no obligation to return any of the premiums paid under the contract.
Compensation Scheme
We are members of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd.
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.
Brokers Ireland Compensation Fund
We are also members of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme the liabilities of its members firms up to a maximum of €100,000 per client (or €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 Investor Compensation Scheme has failed to adequately compensate any client of the member. Further details are available on request.
Status
Allan Mathew Cuthbert trading as Financial Wellbeing (‘the Company’) is regulated by the Central Bank of Ireland.
Terms of Business
Above are the Company’s Terms of Business, which outline the basis on which we provide services to our clients. Please ensure that you read this document. These Terms of Business apply to all business transactions undertaken for you or services provided to you and will remain in force until further notice.
Consent to Contact
Here at Financial Wellbeing we take your data protection seriously and will only use your data as discussed with you in our privacy statement. However, from time to time may wish to contact you in relation to the service we provide via newsletter, phone, email and or post. You always have the option to unsubscribe at any time in the future.
