Terms of Business

TERMS OF BUSINESS OF LHW FINANCIAL PLANNING LTD

These Terms of Business set out the basis on which LHW Financial Planning Ltd will provide 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 I will be happy to answer them.

 

  • The offices of LHW Financial Planning Ltd at 3rd Floor, Avoca Court, Temple Road, Blackrock, Co Dublin. Our telephone number and our fax number are (01) 2170130 and (01) 2170129 respectively. Our email address is info@lhw.ie and our website address is www.lhw.ie

 

  • LHW Financial Planning Ltd is regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995 (as amended) and the European Communities Insurance Mediation Regulations, 2005. Copies of our authorisations are available on request. Alternatively, the Central Bank of Ireland holds registers of regulated firms which can be viewed on their website www.centralbank.ie

 

  • LHW Financial Planning Ltd is subject to the Central Bank of Ireland’s Consumer Protection Code 2012, the Minimum Competency Code 2011 and the Fitness and Probity Standards which offer protection to consumers. These codes and the Fitness & Probity Standards can be found on the Central Bank of Ireland’s website  www.centralbank.ie;

 

  • The firms services which are covered under the Central Bank of Ireland’s authorisation are:

 

    1. Advising you in relation to the nature of each of the protection and investment products in the market and advising you as to which products are suitable for your needs;
    2. Identifying and selecting suitable product providers;
    3. Receiving and transmitting orders on your behalf.

 

  • LHW Financial Planning Ltd will conduct a fair analysis of the market on your behalf before providing advice and/or recommendations in relation to any of these products or services. This analysis will focus on key issues such as price, product features, investment or other risks and potential penalties where a contract is surrendered/encashed. The analysis will also take account of your own personal and financial circumstances and your particular needs and requirements.

 

  • LHW Financial Planning Ltd may receive 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.

 

  • LHW Financial Planning Ltd offer a range of fee based services including but not restricted to Pension or Investment reviews, Financial Planning reports and general financial/protection reviews. In addition, you may also choose to pay for any of our other services by way of a fee rather than through commission which would be paid to us directly by the product provider. Our fee in these circumstances will in general be less than or equal to the average level of commission payable by product providers for similar types of products.  If you do choose this option, we will provide you with a written estimate of our fee in advance of providing any business service. A schedule of our fees is attached to this document. For other fee based work, our hourly charge rate is €200.00.

 

  • It is the policy of LHW Financial Planning Ltd to only use any personal data which you have provided for the purposes for which it was provided. This data will not be passed to any other party without your prior approval in writing.

 

  • During the course of our business dealings with customers, it is the policy of LHW Financial Planning Ltd to take all reasonable steps to avoid any potential conflicts of interest which might adversely affect the interests of our customers. Where conflicts arise which cannot be reasonably avoided, LHW Financial Planning Ltd will disclose the general nature and/or the source of the conflict to you. In such circumstances, we will only proceed with the provision of the service or product where there is directly or indirectly a conflict of interest when you have confirmed in writing that you are aware of the conflict and that you still wish to proceed. LHW Financial Planning Ltd will also undertake to ensure that the conflict does not result in damage to your interests.

 

  • LHW Financial Planning Ltd will, if necessary, exercise its legal rights to receive any 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 payment 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 will be included in your product terms and conditions.

 

  • Any complaint that you may have in relation to the business services provided should be made in writing to the firm outlining the nature of your complaint.  Please address any such complaints to Maurice McCann who is our Compliance Officer. Any such complaint will be acknowledged within 5 business days. The complaint will be fully investigated by LHW Financial Planning Ltd and a full written response will be provided to you.  We will aim to complete the investigation and resolution of a complaint within 40 business days from the date of receipt of your complaint. In the event that you remain dissatisfied with the firms handling and response to your complaint you are entitled to refer your complaint to the Financial Services Ombudsman. Their offices are located on the 3rd Floor, Lincoln House, Lincoln Place, Dublin 2. They may also be contacted using their Lo Call 1890 88 20 90 or their main switch No. (01) 662 0899.

 

  • LHW Financial Planning Ltd is a member of the Investor Compensation Company Limited (ICCL) and is also a member of the Irish Brokers Association Compensation Fund. These compensation arrangements are designed to provide certain remedies to eligible clients on default by the firm. Your legal rights against the firm are not affected by these schemes. The ICCL provides compensation of 90% of the loss subject to a maximum of €20,000 for a valid claim. In addition, the separate IBA Compensation Fund can provide compensation based on its own criteria for a loss of up to €100,000 per claim subject to an overall limit of €250,000 for LHW Financial Planning Ltd.

 

  • LHW Financial Planning Ltd will issue a receipt for each non-negotiable or negotiable instrument or payment received.  This is required pursuant to Section 30 of the Investment Intermediaries Act 1995, (as amended).

 

  • LHW Financial Planning does not provide advice on the discharge of debts. No statement made by us in relation to debts should be construed as advice and should not be relied upon in taking action in relation to debt discharge.

 

The effective date of this Terms of Business Document is 4th July, 2016