» Terms of Business

The following sets out the Term and Conditions for PFP Financial Services Limited (trading as SmartQuotes). RegularSaver.ie is a website designed by SmartQuotes (a trading name of PFP Financial Services Limited ) to provide information on regular saving products available in the Irish Market.

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Authorisation with the Financial Regulator
PFP Financial Services Limited (trading as SmartQuotes) is regulated by the Financial Regulator as a Multi Agency Intermediary under Section 10 of the Investment Intermediaries Act 1995 (as amended). The firm is also registered as an Insurance Intermediary under the Insurance Mediation Regulations 2005. PFP Financial Services (trading as SmartQuotes) is also regulated by the Financial Regulator as a Mortgage Intermediary. Copies of our authorisations are available on request by emailing info@pfp.ie.  The Financial Regulator holds registers of regulated firms. You may contact the Financial Regulator on 1890 200 469 or alternatively visit their website at www.financialregulator.ie to verify our credentials

Services:
The SmartQuotes website is execution only - it does not offer advice. The website offers life assurance products (Mortgage Life Assurance (also know as mortgage protection, Life Assurance, Critical Illness Cover, Income Protection) as well as Deposit Quotes, Wedding Insurance and Travel insurance and transmits orders on clients behalf to any of the insurance undertakings or product producers from whom the Company hold letters of appointment. The company also offers a pensions calculator.

We can provide an advisory pensions service if requested (see below).

Remuneration Policy:
Life Assurance and Protection Products:-
PFP Financial Services Limited receives commission and other payments in respect of business going through the SmartQuotes website from insurers in the case of life assurance/investment contracts. The normal annual premium for the first year only may be reduced by the percentage shown on the website and is paid by way of a commission rebate.

How does the rebate work?
For Life Assurance (including Mortgage Life Assurance) where policies are paid monthly we will refund you up to 70% of the first year’s premium (provided the monthly premium is €30 or more), paid monthly on the same day the direct debit is paid to the provider (eg Insurance Company) for the first twelve months.  It’s as simple as that

Where the premium is below €30 per month the rebate will be calculated as follows:

€20 to €29.99   Rebate of 60% payable
€19.99 or less   Rebate of 50% payable

Where policies are paid yearly, and the premium has been paid in full, we will refund you 70% of the first year’s premium, paid 4 weeks after the commencement date of the policy.

For Income Protection and Critical Illness policies the rebate will be 50% of the first years premium regardless of the premium size.

Where the term of the policy is less than 10 years, the rebate to you will be 7% of the premium X the term of the policy (on premiums of €30 per month or more).   So once the term is 10 years or more, your rebate will be the full 70% of the first year's premium paid on all Mortgage Protection and Life Assurance policies.

Where the premium is below €30 per month the rebate will be calculated as follows:

€20 to €29.99   Rebate of 6% * Term of Policy
€19.99 or less   Rebate of 5% * Term of Policy

It should be noted that if the policy is terminated within the first twelve months (by way of cancellation or non payment of premium) the commission rebate is refundable to PFP Financial Services Limited (trading as SmartQuotes) in full.
From month 13 onwards the normal monthly premium applies.

Mortgages
Through the lenders or other undertakings with which we hold an agency, PFP Financial Services Limited (trading as SmartQuotes) can provide advice on and arrange products from the following range: fixed-rate loans, variable rate mortgages, capital & interest mortgages, interest only mortgages, endowment mortgages, pension mortgages, residential investment property.

We will need to collect sufficient information from you before we can offer any advice on housing loans. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such information shouldbe produced promptly upon request.

We may receive up to 1% (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender. Please note that lenders may charge specific fees in certain circumstances and if this applies, these fees will be specified in your Loan Offer. Typically, this situation arises in relation to specialist lending. If we provide mortgage advice and obtain a Loan Offer for you, and you subsequently do not proceed with your mortgage application through our firm, we may charge you an arrangement fee of €500 for our services. This will be advised to you in advance.

General Insurance:
PFP Financial Services Limited receives a commission from insurers and other producers in respect of business going through the SmartQuotes website from Blue Insurances.

Pensions Advisory
SmartQuotes (a trading name of PFP Financial Services Limited) can provide advice on PRSA’s, Personal Pension, Executive Pensions, Group Pensions, Buy Out Bonds and other related pension products as requested.  For this SmartQuotes (a trading name of PFP Financial Services Limited) is remunerated by commission and other payments from product producers on the completion of business. In certain circumstances, it will be necessary to charge a fee for services provided.

Advisor fees: €100 – €200 per hour.
Support staff: €40 – €60 per hour.

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will give an estimate of this rate in advance of providing you with services. 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 intermediary unless an arrangement to the contrary is made.

Any fees where applicable will be advised in advance to the client.

Conflict of Interest:
It is the policy of SmartQuotes to avoid a conflict of interest when providing services to clients. Where an unavoidable conflict arises we will advise you of this in writing before providing any business service. If you have not been informed of any such conflict you may assume that none arises.

Complaints Procedure:
PFP Financial Services Limited has a written procedure for handling customer complaints. This procedure ensures that all complaints are recorded and, where appropriate, acknowledged in writing within 5 business days. All complaints are fully investigated and the complainant updated (if relevant) at 4 weekly intervals.
In you remain dissatisfied with the handling of and/or response to a complaint you may refer the matter to the Financial Services Ombudsman or the Pensions Ombudsman.

Consumer Protection:
PFP Financial Services Limited is a member of the Investor Compensation Scheme Ltd established under the Investor Compensation Act 1998. The 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 also be aware that a right to compensation would only arise where money or investment instruments held by this Company on your behalf cannot be returned either for the time being or for the foreseeable future and where the client falls within the definition of eligible investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the client’s loss, which is recognised as being eligible for compensation or €20,000.

PFP Financial Services Limited also holds Professional Indemnity insurance of €1,500,000 in compliance with the Insurance Mediation Directive.

Client’s Money:
PFP Financial Services Limited does not accept cash or any negotiable instrument for the payment of insurance premiums. All business on the SmartQuotes website will be on the basis of payment by direct debit with funds being paid directly to the insurance company.

Legal Rights
Insurers may withdraw benefits or cover if a customer does not make any payment due under any product arranged for you. Full details of these provisions will be included in your product terms and conditions.

Agency Appointments
PFP Financial Services Limited holds agencies with the main insurance companies in Ireland – a list of agencies held is available on request.  All wedding insurance and travel insurance is placed via our agency with Blue Insurance, a firm regulated by Financial Regulator

Confidentiality
All information received by us will be treated in the strictest confidence.  We will only disclose information obtained in the following circumstances:

1. Where we are obliged to do so by our regulator or
2. Where we are required to do so by law or
3. On your written instruction

Data Protection
PFP Financial Services Limited complies with the Data Protection Acts 1988 and 2003. 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.

Governing Law
Irish law will give the provision of the services covered by PFP Financial Services, and the Irish Courts will have exclusive jurisdiction over any dispute.

Important legal information
Online Calculators - Terms & Conditions of use

Usage Agreement
You agree that the results produced from any of the online calculator applications is not a quotation for service and that you understand that related results produced represent an indicative or "ball-park" set of costs, and that accurate calculation results and quotations can only be received directly from a company representative after discussion and full analysis of your personal circumstances and requirements.

Limited License
We grant you a non-exclusive, revocable right to use the calculator applications solely for the purpose of receiving an indicative cost of theoretical circumstances. We may revoke your license at any time without notice.

Disclaimers
We make no express or implied warranties or representations with respect to the calculator applications (including, without limitation, warranties of fitness, merchantability, non-infringement, or any implied warranties arising out of a course of performance or trade usage). In addition, we make no representation that the operation of the applications will be uninterrupted or error-free, and we will not be liable for the consequences of any interruptions or errors.