FORSYTHE FINANCIAL PLANNING
A GOAL WITHOUT A PLAN
IS JUST AN IDEA

A trusted point of contact for busy professionals in Cork. Advice provide on a diverse range of personal and professional financial planning needs including, pensions, investments and financial protection.

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Our Terms of Business

TERMS OF BUSINESS

These Terms of Business effective from 05/10/2020 and set out the general terms under which we will provide business services to you and the respective duties and responsibilities of both ourselves 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. If any material changes are made to these terms, we will notify you.

AUTHORISATION & CODES OF CONDUCT

John Forsythe t/a Forsythe Financial is regulated by the Central Bank of Ireland. Our Authorisation code is C32175. 

We are subject to Consumer Protection Code, Minimum Competency Code and Fitness & Probity Standards which offer protection to consumers. 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 and these codes. Forsythe Financial Planning are member of Brokers Ireland

OUR SERVICES

We are an Insurance and Investment Intermediary. Our principal business is to provide advice and arrange transactions on behalf of clients in relation to Life, Pensions, & Investments. 

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 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 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.


A full list of Companies we have agencies with are listed below; Investment and Life Companies:


  • Aviva Life & Pensions Ireland Dac t/a Friends First Life
  • BCP Asset Management DAC
  • Blackbee Investments Ltd
  • Bespoke Investments Limited
  • New Ireland Assurance plc
  • Royal London
  • Greenman Investments
  • Wealth Options Limited
  • Irish Life Assurance Plc
  • Zurich Life Assurance plc
  • Pulse UK 

DISCLOSURE OF INFORMATION

We act as your representative to the companies we have agencies with and 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. 

Material information about medical history, non-smoker status, occupation category and any hazardous pursuits are central to underwriting decisions and it is imperative that all information you provide to the insurer is accurate and complete.You are under a duty to answer all questions posed by the insurer or ourselves on your behalf, honestly and with reasonable care.

It is presumed, unless the contrary is shown, that the you would know all questions in an application or at renewal is material to the risk undertaken by the insurer or the calculation of the premium by that insurer, or both. 

Any failure to disclose material information may invalidate a claim and render your policy void

You must inform and disclose any material information including any material changes that might take place between the time you complete an application form and the time your pay the first premium.

To assist us in providing you with a comprehensive service and to keep our records as up-to date, please notify us of any changes to your personal circumstances, e.g. name change, change of address, etc.


REMUNERATION

Forsythe Financial Planning is remunerated by commission and other payments from product producers 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 ongoing advice with regards to the business we advise you on and we will provide you with an annual update on your Investment business. 

We reserve the right to charge additional fees if the number of hours relating to ongoing advice /assistance exceeds 20 hrs.If we receive commission from a product provider, this will not be offset against the fee which we may 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.


A summary of the details of all arrangements for any fee, commission, other reward or remuneration paid or provided to us by the product producers” is available on our website. If you need further explanation on this information, please do not hesitate to call us.


FEES

You may elect to deal with us on a fee basis. The following hourly rates apply: €200.00 per hour

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. This can range from €200.00 per hour to €500.00 per hour. We will notify you in writing in advance and agree the scale of fees to be charged. Our services do not include ongoing suitability assessments. 


Completion of a Needs Analysis Report and a Suitability Statement

Where you have completed a Financial Fact Find Document and we have provided you with a Suitability Statement we reserve the right to apply a charge of €200.00. If you require additional advice and choose to deal with us on fee basis then an hourly fee of €100.00 will apply.


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. Please advise us of those changes and request a review of your business so that we can ensure that you are provided with up to date advice and products best suited to your needs.


CONFLICTS OF INTEREST

It is our policy 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. As per above remuneration policy we receive payment from the companies/lenders we have agencies with for the business you transact. 


DEFAULTS ON PAYMENTS BY CLIENTS

John Forsythe t/a Forsythe Financial Planning will exercise its legal rights to receive payments due to it from clients (fees) for services provided.


CLIENT MONIES & RECEIPTS

We request that all cheques or negotiable instruments are made payable to the appropriate Product Provider for Life, Pensions, Investment business. We shall issue a receipt for each payment received, these receipts are issued with your protection in mind and should be stored safely. Every effort is made to ensure that clients’ money is transmitted to the appropriate Product Provider without delay. We are not authorised to accept cash.The acceptance by John Forsythe t/a Forsythe Financial Planning of a completed proposal DOES NOT in itself constitute the effecting of a policy. It is only when the Provider or Lender confirms the policy is in place or loan is drawn down that your policy is live.


COMPLAINTS

We have a complaints procedure in place which is available on request. Your complaint can be in writing, email, telephone or face to face. If your complaint is face to face or by phone, we will write to you to confirm our understanding of your complaint. We will acknowledge your complaint within 5 business days, advising you of the name of the person dealing with your complaint on behalf of the company. If in the event, a complainant is dissatisfied with the outcome of our investigation, you are entitled to refer the matter to the Financial Services & Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2, Lo call 01 5677000 email info@fspo.ie. 


All complaints should be sent for the attention of John Forsythe , Forsythe Financial Planning, 3 Laurel Mount Close, The Rock, Carrigaline, Co Cork P43EK28


DATA PROTECTION

We comply with the requirements of the Data Protection Acts 1988-2018. John Forsythe t/a Forsythe Financial Planning is committed to protecting and respecting your privacy. The data will be processed only in ways compatible with the purposes for which it was given. Our Data Privacy Notice will be given to you at the time of data collection.We may use 3rd party providers for onboarding of clients, these companies will also be regulated and adhere to the Data Protection Acts 1988-2018 and Central Bank rules. We may also refer you to one our partner Brokers we have a referral agreement with.

New Business

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 the contract is on cover.

Post Contract and Claims

The giving of notice of cancellation by you will will have the effect of releasing you from any further obligation arising from the contract of insurance.


The insurer cannot impose 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.


You are under a duty to pay your 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 you if you are in breach of your duties under the Act, in proportion to the breach involved.


An insurer may reject a claim by you 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 a change that takes the risk outside what was a reasonable contemplation of the risk that both you and the insurer agreed when the contract was concluded.


You 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. 


You must notify the insurer of a claim with a reasonable time, or otherwise in accordance with the terms of the contract of insurance. If you have become aware after a claim is made of information that would either support or prejudice the claim, you are under a duty to disclose it.


If you make a false or misleading claim in any material respect (and know 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 the consumer has made a fraudulent claim. they may notify the consumer advising that they are voiding the contract of insurance, and 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. 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. 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.


GOVERNING LAW AND BUSINESS SUCCESSION

These Terms of Business shall be governed by and construed in all respects according to the laws of the Republic of Ireland and will be deemed to cover any successors in business to John Forsythe t/a Forsythe Financial Planning.