Personal Finance
Terms of Business
O’Reilly Cullen Gillmor Ltd. is a broker, an authorised advisor and a Mortgage Intermediary. We are in a position to place your business with leading insurers (and other financial institutions – where relevant). This firm does not have any “tied” relationship with any institution that would compromise our ability to offer you independent advice and choice. This firm is also a member of the Irish Brokers Association (IBA).
O’Reilly Cullen Gillmor Ltd. arranges and provides advice in relation to all classes of Life Insurance, Pensions, Mortgages, Investments and Savings Policies.
Consumer Protection
O’Reilly Cullen Gillmor Ltd. is an Authorised Advisor regulated by the Financial Regulator pursuant to the Investment Services Intermediaries Act 1995 and the Insuarance Act 2000 to provide insurance and investment services. The IFRSA list of registered firms is available on their website www.IFSRA.ie or lo-call 1890 200469.
Investor Compensation Company Ltd. (ICCL)
This firm is a member of the investor compensation scheme established under the Investor Compensation Act, 1998. This legislation provides for the establishment of a compensation scheme and to the payment, in certain circumstances, of compensation to clients of firms covered by the Act. However, you should be aware that a right to compensation will only arise where money or investment instruments held by this firm on your behalf cannot be returned either for the time being or in the foreseeable future and where the client falls within the definition of eligible investor as contained in that Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of your loss, which is recognised as being eligible for compensation or €20,000.
In addition to the compensation available under the “Investor Compensation Act, 1998”, O’ Reilly Cullen Gillmor Ltd. is bonded through its membership of IBA for €126,974 with an inner limit of €63,486.90 per client. We also carry full Professional Indemnity Insurance.
Remuneration Policy
O’ Reilly Cullen Gillmor Ltd. is remunerated by both commission and fees. In the event of advice being offered that O’Reilly Cullen Gillmor Ltd. would not be remunerated by the standard commission terms offered by the providers, this would be advised to you, and agreed with you, prior to any advice being given or action taken.
Our current basic hourly rate is €250 for Directors and consultants and €90 for support staff. In determining the rate and any additional charges, factors such as specialist skills, complexity, value, risk and urgency will be taken into account. The rates of fees charged are consistent with the rates recommended by our professional body, the IBA. We also have agreements with the following Lenders - IIB Homeloans, ICS Building Society, Irish Life & Permanent Plc and Ulster bank. They pay us an introductory fee ranging from 0.5% to 1% of the loan amount, depending on the volumes of business doen with that particular company.
Conflict of Interest
It is the policy of the firm to avoid any conflict of interest when providing business services to its clients. However, where any unavoidable conflict may arise we will advise you of this in writing before providing any business service. If you have not been advised of any such conflict you may assume that none arises. In the case of Hibernian Life, Irish Life, New Ireland, Friends First, Standard Life and Scottish Provident we are entitled to an “over-ride commission”. Whether or not we receive this extra commission depends on the amount of overall business we do with these companies.
Complaints
Any complaints regarding the service you have received from any member of staff should be addressed to Mr. Stephen Gillmor, Managing Director. We guarantee a reply within 14 days. We will make every effort to resolve the issue but should the clients not be satisfied then contact may be made with either - The Financial Regulator, PO Box 9138, College Green, Dublin 2 or The Irish Brokers Association, 87 Merrion Square, Dublin 2. A full copy of the complaints procedure is available on request.
Handling Clients’ Money
O’ Reilly Cullen Gillmor Ltd. will only accept money in respect of all classes of insurance where the money represents premiums in respect of either a renewal of a policy which has been invited by an insurance undertaking, or a proposal accepted by an insurance undertaking. Where possible we request that all payments are made payable to the provider of the product in question.
Receipts
O’ Reilly Cullen Gillmor Ltd shall issue a receipt for each non-negotiable or negotiable instrument of payment received. This is required pursuant to Section 30 of the “Investment Intermediaries Act, 1995”. Issued with your protection in mind and should be stored safely.
Product Providers
We are appointed to sell and advise on the products produced by the companies listed below. These are primarily Life Insurance, Savings policies, Pensions, PRSAs, Lump Sum Investments,Income Protection and Mortgage products.
Company Name
Caledonian Life, Canada Life, Eagle Star, Friends First, Hibernian Life and Pensions, Irish Life, New Ireland Assurances, Scottish Provident, Standard Life.
S.H.I.P
VIVAS
ICS Building Society, IIB Homeloans, Permanent TSB & Ulster Bank.
Nov 05
