These terms of business will remain in force and shall apply to any business service provided to you now or at a future date. Should my firm make any material changes to its business terms at a future date, I will advise you at our next meeting and our updated Terms of Business will also be viewable on our website: www.wporeilly.ie
- The full name and address of the firm is set out on our Headed Notepaper.
- W.P. O’Reilly & Associates Ltd is authorised and regulated by the Central Bank of Ireland as an Investment Intermediary under the Investment Intermediaries Act 1995, as a Mortgage Intermediary under the Consumer Credit Act 1995, as a Mortgage Credit Intermediary under the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 and as an Insurance Intermediary under the European Union (Insurance Distribution) Regulations 2018. The Central Bank maintains Registers of authorised firms, – our authorisations can be verified by contacting the Central Bank on 1890 77 77 77.
- W.P. O’Reilly & Associates Ltd is subject to the Minimum Competency Code 2011 and the Consumer Protection Code 2012 which can be viewed on www.centralbank.ie
- W.P. O’Reilly & Associates Ltd offers advice on a fair and personal analysis of the market on a range of products and services including a range of protection plans, investments, retirement plans and advice on options at retirement, savings plans, deposits and mortgages.
- We place business on your behalf with product providers with which we hold an agency. We are not ‘tied’ to any institution for any class of insurance or mortgage business. We do not have a holding, direct or indirect, representing 10 per cent or more of the voting rights or of the capital in any insurance undertaking and likewise no insurer has a such a holding in our firm. We represent our customers when dealing with insurers.
- W.P. O’Reilly & Associates Limited is 100% wholly owned by Royal Noble Holdings Limited. Niamh O’Reilly is a 95% shareholder in Royal Noble Holdings Ltd and Pat O’Reilly is a 5% shareholder.
- W.P. O’Reilly & Associates Ltd holds written appointments with the following companies: Irish Life Assurance plc (Preferred Provider), Friends First Life Assurance Company DAC, Zurich Life Assurance plc, Aviva Life & Pensions UK Limited, Phoenix Ireland, The Royal London Mutual Insurance Society Ltd, BCP Asset Management DAC, Cantor Fitzgerald Ireland Ltd, Bastow Charleton Wealth Management Ltd, Standard Life Assurance Company, Wealth Options Ltd, Wealth Options Captial Ltd, New Ireland Assurance Company, Greenman Investments, Newcourt Retirement Fund Managers, CGU Life, Custom House Capital Ltd, Harcourt Life Ireland DAC, Independent Trustee Company Ltd, KBC Bank Ireland plc, Permanent TSB plc, Pension Source, Scottish Provident Ltd, First Citizen Finance and J & E Davy.
- In relation to non-insurance-based investment products, other than bank deposit accounts, we provide advice on a non-independent basis, as we may receive remuneration from the product providers of such products. These products include structured products which may typically be listed bonds and shares, collective instruments, unit trusts and tracker bonds. The product providers with which we currently hold agencies are: BCP Asset ManagementDAC, Cantor Fitzgerald Ireland Ltd, Independent Trustee Company Ltd, J & E Davy, Wealth Options Ltd.
- W.P. O’Reilly & Associates Ltd has selected one preferred product producer, Irish Life Assurance plc, for life insurance plans (including life assurance, specified illness cover, income protection, unit linked savings, investments, retirement plans, tracker bonds and Personal Retirement Savings Accounts (PRSAs).
- W.P. O’Reilly & Associates Ltd also holds a written appointment to act as a mortgage intermediary, and the mortgage intermediary service is limited to the following mortgage lenders: KBC Bank Ireland plc., Permanent TSB plc, Finance Ireland Credit Solutions DAC, Brokers Ireland Network Services Limited, Haven Mortgages Ltd., First Citizen Finance, Le Bruin (Subsidiaries Origin Capital and Profunder) and ICS Dilosk.
- W.P. O’Reilly & Associates Ltd also holds a deposit agency, and the service is limited to the following Financial Services Provider: Permanent TSB plc.
- We provide advice on a non-independent basis.
- We do not conduct periodic suitability assessments of insurance-based investment products or financial instruments on an ongoing basis unless otherwise agreed with you in writing. However, 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/product 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.
- All calls to and from our office landlines are recorded for record purposes. A copy of any recordings of conversations and communications in relation to non-insurance investment products will be available on request for a period of between five and seven years.
- W.P. O’Reilly & Associates Ltd may receive commission and other payments from the life assurance or other provider to whom orders are transmitted. Summary details of these payments will be included in a product information document, where applicable, under the Customer Information Notice section, which you are legally entitled to receive before an application for a product is completed, and, where applicable, full details will be included with your cooling-off letter and welcome pack. We may also receive renewal, indexation, trail commissions, and other payments depending on the volume of business placed with a provider. Any ongoing commission shown in the Customer Information Notice will be paid to us as long as we continue to be your Financial Adviser. Details of charges and commission payments for other products are available on request. In certain circumstances the firm may charge you a fee for services provided. If we do this we will provide you with a written estimate of this in advance of providing any business services. Commissions which we receive will not be offset against any fees due to us unless agreed in writing. All commissions contribute to the costs in providing you with ongoing services.
- W.P. O’Reilly & Associates Ltd is entitled to receive up to 1% of mortgage amount from mortgage lenders in respect of commission for placing the business with the lender. Details of commissions payable by different lenders are available on request and will be reflected in the European Standardised Information Sheet (ESIS’) which the lender will issue to you.
We also charge an administration fee of €400 in total, €200 charged when applying for a mortgage and the balance of €200 due before completion of the mortgage and the issue of the mortgage loan cheque by the Lender. Such fees will also be included in the lender’s ESIS.
- So that we can provide you with business services, you will have to give personal information including your name, address, date of birth, and details about your financial arrangements such as your existing protection cover, pension arrangements, and your savings and investments. From time to time you may also need to give sensitive personal information such as medical details. W.P. O’Reilly & Associates Ltd complies with the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.
- 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. Your data will be passed to the relevant product producers with whom W.P. O’Reilly & Associates Ltd has agencies for the purpose of arranging transactions agreed with you. Your data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice and Data Protection Policy and Procedures. This information will only be used to provide you with business services, to meet any legal and regulatory obligations, and for legitimate business reasons. From time to time, we will send information about other financial products and services, provided by us or associated companies with which we have a formal business arrangement, which we think may be of interest to you. You have the right to ask us not to send you this marketing material and, at any time you can ‘opt out’ of receiving marketing material.
- You have a right to see the information that is held on you and you can do this by writing to me at the address given. We would like to contact you by way of letter, email or telephone call. If you would like to receive to receive such marketing information please complete the permission statements contained in the Terms of Business Client Acknowledgement Letter attached. You have the right at any time to request a copy of any ‘personal data’ within the meaning of the GDPR that our office holds about you and to have any inaccuracies in that information corrected.
- Please contact us at firstname.lastname@example.org if you have any queries about your personal data. You also have the right to make a complaint to the Data Protection Commission where you feel that your rights have not been appropriately served by us (dataprotection.ie). You can contact the Data Protection Commission by calling +353 (0)761 104 800 or LoCall 1890 25 22 31, emailing email@example.com or writing to Data Protection Commission, Canal House, Station Road, Portarlington, Co Laois, R32 AP23.
- Durable Medium;We may provide information in paper format or via email e.g. Terms of Business, recommendations, product brochures, etc. Where you have provided us with your email address we operate on the basis that this represents your consent to receive documentation by email. On receipt of our emails, you may request paper copies.
- It is the policy of W.P. O’Reilly & Associates Ltd to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advise you of this in writing before proceeding to provide any business service. If you have not been advised on any such conflict you are entitled to assume that none arises.
- W.P. O’Reilly & Associates 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 it for clients arising from payments to it by clients which subsequently default. An insurer or other product provider may withdraw benefits on default of payments due under any products arranged for your benefit. Details of these provisions will be included in your product terms and conditions. Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you do not maintain your agreed repayments.
- Any complaint that you may have in relation to the business services provided should be made in writing or by contacting W.P. O’Reilly & Associates Ltd outlining the nature of your complaint. All complaints will be acknowledged in writing within 5 business days of the complaint being received. The complaint will be fully investigated by W.P. O’Reilly & Associates Ltd and a full response will be provided to you. We will aim to provide this response not later than 20 business days from receipt of your complaint. In the event that you remain dissatisfied with the firm’s handling of and response to your complaint you are entitled to refer your complaint to the Financial Services and Pension Ombudsman (contact details below).
Financial Services and Pensions Ombudsman
Lo-call: (01) 567 7000
- W.P. O’Reilly & Associates Ltd is a member of the investor compensation scheme run by the Investor Compensation Company Limited. The scheme provides a way of paying certain investors compensation, subject to the relevant limits, if they suffer financial loss caused by an investment firm being unable to meet its financial obligations (in other words, pay everything it owes). In the event that a right to compensation is established, the amount payable is the lesser of ninety per cent of your loss, which is recognised as being eligible for compensation, or €20,000.
These Terms of Business are effective from 26 February 2019
Statement of Authorised Status
WP O’Reilly & Associates Limited t/a WP O’Reilly & Associates (‘the firm’) (Ref. No. C2627) is deemed authorised as an investment business firm under Section 26 of the Investment Intermediaries Act, 1995 (as amended), to provide the services of an investment intermediary.
WP O’Reilly & Associates Limited t/a WP O’Reilly & Associates is authorised to receive and transmit orders to product producers from whom a written letter of appointment is held, in relation to:
- Shares in a company or bonds that are listed on a stock exchange, prize bonds
- Relevant collective investment scheme instruments
- Tracker bonds
- Insurance policies
- Personal Retirement Savings Accounts (within the meaning of the Pensions Act, 1990) CPRSAs’)
The firm is also authorised to act as a deposit broker and to give advice in relation to deposits.
When receiving and transmitting orders in relation to insurance policies and/or PRSAs, the firm may only accept cash or cheques/bank drafts from clients payable to itself where:
(i) an insurance undertaking has invited renewal of a policy of insurance, or
(it) a proposal for insurance and/or PRSAs has been accepted by an insurance undertaking.
In all circumstances, cheques/bank drafts or other payment instruments must be made payable to the product producer.
Certificate of Authorisation
Reference No: C2627
WP O’Reilly & Associates Limited t/a WP OReilly & Associates Berkeley House
WP O’Reilly & Associates Limited t/a WP O’Reilly & Associates (‘the firm’) is authorised under Regulation 30 of the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 to engage in the business of being a Mortgage Intermediary/Mortgage Credit Intermediary on behalf of the following undertaking (s):
KBC Bank Ireland plc, permanent tsb plc., Brokers Ireland Network Services Limited, Haven Mortgages Limited, Dilosk DAC, Finance Ireland Credit Solutions DAC
The firm is not required to obtain a separate authorisation under Section 116 of the Consumer Credit Act 1995 (‘the 1995 Act’). However, the firm shall be required to comply with the regulatory requirements set out in the 1995 Act and shall be subject to supervision by the Central Bank of Ireland in respect of activities carried out in accordance with the 1995 Act.
The firm is also authorised to provide advisory services in respect of transactions relating to credit agreements falling within the scope of the European Union (Consumer Mortgage Credit Agreements) Regulations 2016.
Directors and/or Managers responsible for the mortgage credit intermediation business:
This authorisation is valid until 24/05/2027.
For and on behalf of the Central Bank of Ireland:
Simply call us today on 01-8498989 or email firstname.lastname@example.org with any queries you may have.