Call us on: 052 61 29487

FOH Financial Limited.,
6 Dr. Croke Place, Clonmel, Co. Tipperary

Terms Of Business

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FOH Financial Limited

These Terms of Business set out the general terms under which our firm will provide business services to you and the respective duties and responsibilities of both the firm 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 with the Central Bank of Ireland

FOH Financial Limited (C47740) is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018 ; as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995 and as a Mortgage Intermediary authorised under the Consumer Credit Act, 1995, and as a Mortgage Credit Intermediary under the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 and as a Debt Management Firm authorised under Part V of the Central Bank Act 1997 (as amended by the Central Bank (Supervision and Enforcement Act 2013) for the provision of debt management services. Copies of our regulatory authorisations are available on request. 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.

Our Services

FOH Financial Limited is a member of Brokers Ireland.

Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life & pensions/ mortgages/general insurance products. A full list of insurers, product producers and lending agencies with which we deal is available on request.

FOH Financial Limited has multiple agencies and we offer broad & extensive advice:

  1. The principal regulated activities of the firm are provided on a fair & personal analysis of the market; and
  2. You have the option to pay in full for our services by way of a fee.

 

Fair and Personal Analysis

The concept of fair and personal analysis describes the extent of the choice of products and providers offered by an intermediary within a particular category of life assurance, general insurance, mortgages, 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 and personal 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.

Investment Intermediary Services (Articles 3 Services)

We are remunerated by commission &/ or fees for our Investment Intermediary Services

Insurance Based Investment Products

We are remunerated by commission &/ or fees for the advice we provide on our Insurance Based Investment products

Life & Pensions and Wrapped Investments

FOH Financial Limited provides life assurance, pensions and investments on a fair and personal analysis basis i.e. providing services on the basis of a sufficiently large number of contracts and product producers available on the market to enable us to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs.

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, particularly in relation to PHI and serious illness policies.

Specifically, on the subject of permanent health insurance policies it is our policy to explain to you a) the meaning of disability as defined in the policy; b) the benefits available under the policy; c) the general exclusions that apply to the policy; and d) the reductions applied to the benefit where there are disability payments from other sources.

For a serious illness policy, we will explain clearly to you the restrictions, conditions and general exclusions that attach to that policy.

Deposits

FOH Financial Limited provides Deposit Services on a limited analysis basis (providing services on the basis of a limited number of contracts and product producers available on the market).

We provide advice on the following product providers:

  • KBC Bank Ireland Ltd
  • Investec

Mortgage Repayment Protection Cover

FOH Financial Limited provides Mortgage Repayment Protection cover a limited analysis basis (providing services on the basis of a limited number of contracts and product producers available on the market). We provide advice on the following product providers:

  • Assurant

Mortgages

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

FOH Financial Limited provides mortgage advice on a fair analysis basis (providing services on the basis of a sufficiently large number of contracts and product producers available on the market to enable the firm to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet your needs).

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 should be produced promptly on our request.

Debt Management Services

The firm provides debt management services. We provide specialist mortgage advisory re-structuring services in relation to residential, buy to let and commercial mortgage debt and unsecured debt. This service includes but is not restricted to; consultations, documentation review, drafting of correspondence and lender representation.

DISCLOSURE OF INFORMATION

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

 

Statement of Charges

FOH Financial Limited may earn our remuneration on the basis of a fee, commission and other type of remuneration including a non-monetary benefit or on the basis of a combination of these methods. A non-monetary benefit will only be accepted if it enhances the quality of the service to our clients.

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 initial advice provided and ongoing review/advice. We reserve the right to charge additional fees if the number of hours relating to on-going advice/assistance/review of your Pension/investment completed through us exceeds 1 hour, in relation to other areas of advice our normal hourly rate will apply in such instances.

A summary of the details of all arrangements for any fee, commission other reward or remuneration paid or provided to us which we have agreed with product providers is available on our website www.foh.ie

In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below for life, pensions & investments, non-life business and Standard PRSAs. 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. Where it is not possible to give the exact amount, we will provide you the method of calculation of the fee.

If we receive commission from a product provider, this will be offset against any subsequent fee we may charge you, beyond the initial consultation fee already charged. Where the commission is greater than the fee due, the commission may become the amount payable to the firm unless an arrangement to the contrary is made.

Life & Pension, Deposits, Pensions, PRSA’s, General Advice/Reviews

Please note that we charge all clients an upfront Initial Consultation fee of €150, which is payable on the day, and the following options will then be available to you depending on what you want us to do for you next….

Additional Fees will be payable for specific cases, including full reviews, assessments, recommendations, complex cases or to reflect value, specialist skills or urgency. Our set rate for such work is €450 payable upfront and you will be advised of this fee at the end of our initial consultation, and subsequently in writing, if it applies to you.

From here….

We are remunerated for the business services we offer you our client in a number of ways:

  • by the product producers with whom we place business in the form of a commission payment and/or Where we receive recurring commission, this forms part of the remuneration for initial advice provided. And/or
  • If we receive commission from a product provider, this will be offset against any fee charged in excess of the initial consultation & assessment fee (see below). 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.

OR

Fee Only - In addition to our initial consultation & assessment fees, you may choose to pay for our subsequent services or produce arrangement in full , by means of a fee only, which will be agreed with you on a case by case basis and in advance in writing, please note our hourly rate and minimum/maximum fee per specific area of business as outlined below

  • Principles / Directors €150 per hour
  • Senior Advisers €150 per hour
  • Support staff €60 per hour

Please note the following minimum/maximum fees apply –

  • Pension/PRSA etc - Minimum of €450 fee per application or a maximum of 1% of the amount invested, whichever is greater
  • Investments - Minimum of €450 fee per application or a maximum of 1% of the amount invested, whichever is greater

Regardless of your decision as to how we will be remunerated we will always opt to include a renewal fee into your management fee varying from 0.25% to 0.5% which is paid to us by the provider deducted directly by them from your pension/investment. We charge this for the ongoing review of your Pension &/or Investment. If you would prefer to pay this by fee as well, this will be calculated per Pension &/or Investment as per our hourly rate outlined above.

Note:
Any subsequent fees beyond the Initial Consultation, such as Assessment, Case Assessment & Engagement fee, which must be paid up front as outlined, ongoing fees will be invoiced monthly in arrears and any unpaid invoices, outside the time frame allotted, may result in us being unable to carry any further work on your case, unless otherwise agreed by us.

Mortgages

Please note that we charge all clients an upfront Initial Consultation fee of €150, which is payable on the day. Besides the initial consultation fee, the following fees may also apply you depending on what you want us to do for you next….

Next steps…

If you want to proceed with your Mortgage through us, we charge a Mortgage Assessment fee of €450, which is payable upfront, and is non-refundable. This is not in any way an indication of Mortgage/Loan approval.

From here…

We are remunerated in different ways:

On successful drawdown of your Mortgage we may receive up to 1% commission (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender.

The actual amount of commission will be disclosed at a later stage in the ESIS (European Standardised Information Sheet) which will be forwarded to you. Information on the variation in levels of commissions payable by the different creditors providing credit agreements being offered are available on request.

Further fees that may apply to you

If your Mortgage Application proves more complex and time consuming than initially anticipated, we will charge you a further processing/arrangement fee of €600 for our services in addition to the €450 assessment fee already paid.

&/OR

After the initial Mortgage Assessment as outlined above, if we proceed to prepare a Loan application on your behalf and you subsequently do not proceed with your mortgage application through our firm, we will charge you a further processing/arrangement fee of €600 for our services in addition to the €450 Mortgage assessment fee already paid.

Subject to a maximum of €1,050 after the initial Consultation fee should all the above circumstances apply

Please note that lenders may charge specific fees in certain circumstances and if this applies, these fees will be specified in your Loan Offer. You have the right to pay a fee separately and not include it in the loan. Typically, this situation arises in relation to specialist lending.

Our fee will be notified to the lender who will include this fee into the calculation of the APRC (Annual Percentage Rate Charge). Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency.

We are happy to review your Mortgage if requested by you after drawdown and such services will be charged at our hourly rate €150 per hour unless otherwise agreed.

Debt Management Services Fees

Please note that we charge all clients an upfront Initial Consultation fee of €150, which is payable on the day, and the following fees may also subsequently apply.

  • Step 2 - Case Assessment Fee €750 up front PLUS
  • Step 3 – Creditor Proposal Fee €250 up front Plus Creditor
  • Engagement/Negotiation Fee €150 per hour thereafter PLUS
  • If we secure a write down or discount on your overall debt we may charge up to 1% of the overall sum involved as a further fee, this will be finalised when the deal/terms are secured in writing from the Bank/Creditor at which point we will notify you in writing.
  • Where travel is involved to meet with you, our client or on your behalf with Creditors etc. mileage/travel rates will be charged by us as per Revenue Guidelines see http://www.revenue.ie/en/tax/it/leaflets/it54.html http://www.revenue.ie/en/tax/it/leaflets/it51.html
  • See full and expanded details in our Initial Letter under Provision 13.2 Consumer Protection Code 2012? and as reiterated in our Assessment Pack, specifically applicable to this area of advice.

Note:

Any subsequent fees beyond the Initial Consultation, Case Assessment & Engagement fee, which must be paid up front as outlined, ongoing fees will be invoiced monthly in arrears and any unpaid invoices, outside the time frame allotted, may result in us being unable to carry any further work on your case, unless otherwise agreed by us.

Complaints Procedure

Whilst we are happy to receive verbal complaints, it would be preferable that any complaints are made, in writing. We will acknowledge your complaint within 5 business days, and we will fully investigate it. We shall investigate the complaint as swiftly as possible, and, the complainant will receive an update on the complaint at intervals of not greater than 20 business days starting from the date on which the complaint is made. On completion of our investigation, we will provide you with a written report of the outcome. In the event that you are still dissatisfied with our handling of or response to your complaint, you are entitled to refer the matter to the Financial Services and Pensions Ombudsman. A full copy of our complaint’s procedure is available on request.

Codes of Conduct

FOH financial Ltd is subject to the Consumer Protection Code, Minimum Competency Code and Fitness &Probity Standards which offer protection to consumers. These Codes can be found on the Central Bank’s website https://www.centralbank.ie

Conflicts of Interest

It is the policy of our firm 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. A full copy of our conflicts of interest policy is available on request.

Ongoing Suitability

Investments

This firms’ services do not include ongoing suitability assessments unless at face to face reviews which we encourage our clients to do at least annually or unless otherwise requested or prompted by you.

Insurance Based Investment Products

This firms’ services do not include ongoing suitability assessments unless at face to face reviews which we encourage our clients to do at least annually or unless otherwise requested or prompted by you.

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, of changes in your circumstances, or request a review, may result in you having insufficient insurance cover and/or inappropriate investments.

FOH Financial undertake to review our clients Pensions, Investments etc at least annually and we write to our clients to prompt them to meet us as part of this review process which we encourage all our clients to avail of. Should you require a more frequent review we will endeavour to accommodate your request and outline what extra fee &/or what fund-based renewal commission increase that will apply, in excess of the 1 hour we allot to such reviews.

Compensation Scheme

We are members of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd. See below for details.

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. The Investor Compensation Company Ltd (ICCL) was established under the 1998 Act to operate such a compensation scheme and our firm is a member of this scheme. 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 of 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 purpose 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.

Brokers Ireland Compensation Fund

We are also members of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme the liabilities of its members firms up to a maximum of €100,000 per client (or €250,000 in aggregate) may be discharged by the fund on its behalf if the member firm is unable to do so, where the above detailed Investor Compensation Scheme has failed to adequately compensate any client of the member. Further details are available on request.

Failure to Pay or Default

We will exercise our legal rights to receive payments due to us from clients (fees and insurance premiums) for services provided. In particular, without limitation to 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.

Product producers may withdraw benefits or cover in the event of default on payments due under policies of insurance or other products arranged for you. We would refer you to policy documents or product terms for the details of such provisions.

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

Data Protection

We are subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.

FOH Financial Limited is committed to protecting and respecting your privacy. We wish to be transparent on how we process your data and show you that we are accountable with the GDPR in relation to not only processing your data but ensuring you understand your rights as a client.

The data will be processed only in ways compatible with the purposes for which it was given and as outlined in our Data Privacy Notice, this will be given to all our clients at the time of data collection. We will ensure that this Privacy Notice is easily assessible. Please refer to our website (https://www.foh.ie/Additional-Information/Privacy-Notice). If this medium is not suitable, we will ensure you can easily receive a copy by hard copy, or telephonic environment (pre-recorded).

Please contact us at foh@foh.ie if you have any concerns about your personal data.

Privacy Policy

Please refer to our website https://www.foh.ie/Additional-Information/Privacy-Notice

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Pensions - You will retire someday

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Additional Information

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