Terms & Conditions

Michael Dowling Mortgage & Financial Services Ltd is regulated by the Central Bank of Ireland C49388 under the Investment Intermediaries Act 1995 as a Multi-Agency Intermediary and is registered as an Insurance Intermediary under the European Communities (Insurance Mediation) Regulations, 2005. Our authorisation can be verified by contacting the Central Bank of Ireland Lo-call 1890 777 777 or by visiting www.centralbank.ie.
Michael Dowling Mortgage & Financial Services Ltd is subject to and complies with the Consumer Protection Code, Minimum Competency Code and the Fitness and Probity Standards as laid down by the Central Bank of Ireland these codes are in place for the protection of the consumer and can be found on www.centraI bank.ie.
Michael Dowling Mortgage & Financial Services Ltd acts as a Broker, which means that the principle regulated activities of the firm, are provided on the basis of a fair analysis of the market as a Multi-Agency Intermediary.

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, Investments and general insurance. 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, availability of information about the products, quality of the product and service provided by the provider, cost, and any other relevant consideration.

Services
We will offer advice and/or act as an agent on your behalf on a fair analysis basis in relation to the following services,
Insurance Policies, Personal Retirement Savings Accounts (PRSA’s), Tracker Bonds, Units or shares in undertakings for collective investment schemes including unit trusts or UCITS, Savings & Investment advice.
Michael Dowling Mortgage & Financial Services Ltd provides Insurance policies and pensions providing services on the basis of a sufficiently large number of contracts and product producers available on the market which will enable us to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs.
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 renewals and when we receive your instruction. You have the right not to avail of this service. We will identify and select a suitable product producer and on receipt of your instructions we will transmits orders on your behalf to one of more product producers (a list of which is available on request).

Commissions and Charges
Michael Dowling Mortgage & Financial Services Ltd receives commissions and other payments from product producers. These commissions and payments are based on agreed terms with product providers and vary from product to product. Details of the amount of the actual commissions and other payments will be included, where applicable, in the product information documents you will receive before a product proposal is completed by you. These commissions are paid periodically by the product producers at varying rates depending on the product.

Where Michael Dowling Mortgage & Financial Services Ltd receives a commission from the product producer no other charges will be charged for the investment or protection business services from you.

If Michael Dowling Mortgage & Financial Services Ltd does not receive a commission or payment from the product producer, you will be charged for Michael Dowling Mortgage & Financial Services Ltd services on the basis of a percentage of the value/ cost of the product or by way of an hourly rate for our time. We will agree the fee structure with you in advance of providing a service which we do not receive commission for. When there is a withdrawal from an application or engagement process at what is considered to be the final stage a fee based on a percentage of the commission due will be payable to Michael Dowling Mortgage & Financial Services Ltd for the work completed.

This percentage fee will be fully explained and is non- negotiable. When arising, you must pay our invoices promptly and will be made without set-off, counterclaim or deduction. We may also receive additional marketing or other support payments directly from Financial Institutions where we have transacted large volumes of business. These will not be offset against any amounts due by you to us.

Michael Dowling Mortgage & Financial Services Ltd may share commission or payments from product producers with other third parties, or receive remuneration from them in respect of transactions carried out on your behalf. Where a third party charge is incurred, it will be passed on to you. Where we receive recurring commission, this forms part of the remuneration for initial advice provided. If we receive commission from a product provider, this will 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.

You may choose to pay in full for our services by means of a fee. Directors/Adviser fees: €200 per hour. Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency.

Handling Clients Money
The firm will accept payments in cash and by cheque in respect of all classes of insurance in circumstances permitted under Section 25G of the Investment Intermediaries Act, 1995. In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below. 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.

Product Producer Rights & Default
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. If there is any payments due or unpaid to a product producer for any products arranged by Michael Dowling Mortgage & Financial Services Ltd the product producer may withdraw benefits or cover. The product producer’s rights in this regard will be set out in the product terms & conditions.

Investor Compensation
In accordance with Section 38(1) of the provisions of the Investor Compensation Act, 1998, Michael Dowling Mortgage & Financial Services Ltd is required to ensure that, in our Terms of Business we inform actual and intending clients of the following information concerning investor compensation:
That 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;
That the firm is a member of that compensation scheme
That compensation may be payable where money or investment instruments owed or belonging to clients and held, or in the case of investment instruments, administered or managed by the firm, cannot be returned to those clients for the time being and there is no reasonably foreseeable opportunity of the firm being able to do so
That a right to compensation will arise only:
If the client is an eligible investor as defined in the Act
If it transpires that the firm is not in a position to return client money or investment instruments owed or belonging to 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 lessor 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.

Conflicts of interest
Your attention is drawn to the fact that in providing the services herein we, or some person connected with Michael Dowling Mortgage & Financial Services Ltd may have an interest, relationship or arrangement that is material in relation to the investment, transaction or service concerned. Michael Dowling Mortgage & Financial Services Ltd seeks to avoid any conflicts of interest but should a conflict arise our employees are required to comply with the policy of independence, explain the existence of the conflict of interest to you and disregard any such interest when making recommendations to you. You will be required to acknowledge the conflict of interest and your desire to proceed with any proposed transaction in writing.

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
Complaints
If you are unable to resolve a complaint with the person you are dealing with, you should refer the matter in writing to the company for further investigation. Your complaint will be acknowledged within 5 working days and you will be notified of your point of contact until the complaint is resolved. Michael Dowling Mortgage & Financial Services Ltd will undertake a full investigation of the complaint and, while the investigation is ongoing, furnish you with updates at intervals not greater than 20 working days. On completion of the investigation Michael Dowling Mortgage & Financial Services Ltd will inform in writing as to the outcome and any action proposed by Michael Dowling Mortgage & Financial Services Ltd in respect of the complaint. If you are not satisfied at any time you can refer the matter to the Financial Services Ombudsman, Lincoln House, Lincoln Place, Dublin 2 or the Pensions Ombudsman, 36 Upper Mount Street, Dublin 2. A full copy of our complaints procedure is available on request. The Financial Services Ombudsman deals with complaints against any regulated
Firm that relate to the following ‘eligible customers’:
Personal customers (i.e. individuals not acting in the course of business); Small companies (defined as companies with turnover less than €3m); and Unincorporated bodies (includes partnerships, trusts, clubs & charities).

Data Protection and Confidentiality of Information
Michael Dowling Mortgage & Financial Services Ltd complies with the requirements of the Data Protection Acts, 1988 and 2003.
Michael Dowling Mortgage & Financial Services Ltd may use, store or otherwise process personal information provided by you. The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf. The information Michael Dowling Mortgage & Financial Services Ltd hold about you is confidential and will not be used for any purpose other than in connection with the provision of the agreed services. Information of a confidential nature will be treated as such provided that such information is not already in the public domain. Information of a confidential nature will only be disclosed outside Michael Dowling Mortgage & Financial Services Ltd in the following circumstances:
Where required by law or if requested by any regulatory or government authority or exchange having control or jurisdiction over Michael Dowling Mortgage & Financial Services Ltd. (Or any respective associate); to investigate or prevent fraud or other illegal activity;
To process your application/ proposal with any product producer or relevant third party in connection with the provision of services to you;
For purposes ancillary to the provision of the services or the administration of your insurance or investment product;
At your request or with your consent.
In accordance with the Data Protection legislation in Ireland, you are entitled to a copy of the information Michael Dowling Mortgage & Financial Services Ltd holds about you, on payment of a fee. In the first instance, you should direct any such request to Michael Dowling Mortgage & Financial Services Ltd. You should let us know if you think any information we hold about you is inaccurate, so that we may correct it.