nestegg

Terms and conditions

Terms of Business

These Terms of Business set out the general terms under which our firm Nestegg Wealth Brokers Ltd T/A MyNestegg.ie and 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.

Company Registration Details:
The registered address of Nestegg Wealth Brokers Ltd is:
Suite 1,Stafford House, Strand Road, Portmarnock, County Dublin.

The company is registered in Ireland under Company Registration Number 571675.

Professional Membership: Brokers Ireland Association
Nestegg Wealth Brokers Limited is and Insurance Broker and is a member of the Brokers Ireland Asssociation under membership certificate number 201555.

Statement of Authorised Status with Central Bank of Ireland.

Investment Intermediary
Nestegg Wealth Brokers Ltd T/A MyNestegg.ie (‘the firm’) Ref.No.C149677 is authorised as an investment business firm under Section 10 of the Investment Intermediaries Act, 1995 (as amended), to provide the services of an Investment Intermediary and also as a deposit broker to give investment advice in relation to deposits.

Insurance Intermediary
Nestegg Wealth Brokers Ltd T/A MyNestegg.ie is registered with the Central Bank of Ireland as an Insurance Intermediary to undertake insurance mediation under the European Communities (Insurance Mediation) Regulations, 2005.

Mortgage Agent
Nestegg Wealth Brokers Ltd T/A MyNestegg.ie is registered with the Central Bank of Ireland as a Mortgage Agent to Best Rate Mortgages Limited and Finance Life & Pensions Limited.


Mortgage Intermediary
Nestegg Wealth Brokers Ltd T/A MyNestegg.ie is Authorised in accordance with the provisions of section 116 of the Consumer Credit Act 1995 (as amended) and Section 33c of the Central Bank Act,1942 to engage in the business of being a Mortgage Intermediary.

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.

Codes of Conduct
Nestegg Wealth Brokers 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 www.centralbank.ie

Our Services
Our principal business is to provide advice and arrange transactions on behalf of clients in relation to Investments, Pensions, Life Assurance, Protection, Savings, Deposits, General Insurance and mortgage products. A full list of insurers, product producers and lending agencies with which we deal with is available on request. 


Broker
Nestegg Wealth Brokers Ltd T/A MyNestegg.ie acts as a Broker in relation to the services of: Savings, Deposits, Investments, Pensions and Protection which means that:

a) The principal regulated activities of the firm are provided on the basis of a fair analysis of the market; and
b) You have the option to pay in full for our services by means of a fee.

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, 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 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.

Mortgage Intermediary

We, upon the request of our clients will offer our client’s details as a referral to Best Rate Mortgages Limited t/a BRM Financial Services situate Northern Cross, Malahide Road, Dublin 17 and Finance Life and Pensions Limited situate Swords, County Dublin in respect of all Mortgage, Loan or Credit related business. We are in receipt of a commission from Finance Life and Pensions Limited in respect of any business transacted.

General Insurance Agent
Nestegg Wealth Brokers Ltd is authorised as an Insurance Intermediary, holds a letter of appointment and acts as a restricted activity Intermediary with Securus Ltd. for General Insurance. This service provides quotations and arranging insurance cover. Examples of risks that can be insured include ‘Property and Motor cover for higher value estates and property Owners and Professional Indemnity cover for Accountants and Insurance Brokers.

Code of Ethics
At Nestegg Wealth Brokers Ltd we work to the following best practices:

  • Promoting Individual Responsibility and Accountability- Directors and Employees will uphold the highest level of integrity and professionalism in carrying out their responsibilities and act in the interest of the client.
  • Maintaining Confidentiality – Directors and Employees shall treat as confidential all information regarding the business or affairs of our client in the carrying out of their functions.
  • Managing Conflict of Interest –Each Director and Employee has a responsibility to avoid conduct which could be in conflict with advising you the client correctly. 

Annual Review / Maturities/ Claims Service

We will provide assistance to you for any queries you may have in relation to the policies you hold through our firm. We offer an Annual Review service to provide you with an update on your business with us. In return for this service we may receive remuneration in the form of renewal or trail commission from the Third Party Companies with whom we hold a letter of appointment.
Upon receipt of any surrender / encashment / cancellation instruction we will contact the relevant insurer on your behalf. We cannot guarantee the price, unit value or surrender value of any transaction until we have made contact with and received confirmation in writing from the relevant Third Party Product Provider.
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.

Mortgages, Credit and Loans 

Nestegg Wealth Brokers Ltd is authorised as a Mortgage Intermediary and holds a letter of appointment with Best Rate Mortgages, Chase House, City Junction Business Park, Northern Cross, Malahide Road, Dublin 17 and Finance Life and Pensions Limited Broadmeadows, Swords, County Dublin to refer Mortgage, Loan and Credit business. Best Rate Mortgages and Finance Life and Pensions can then provide advice on the following Areas: fixed-rate loans, variable rate mortgages, capital & interest mortgages, interest only mortgages, and refinancing of residential investment property loans. Nestegg Wealth Brokers Ltd may receive a fee for any referral where a Mortgage / Loan application is approved or completed.

Disclosure of Information

We recommend that when completing documents to apply for a contract of insurance/Assurance that you disclose all material facts relevant to the assessment of an insurance/assurance, Mortgage, Loan, Credit or pension contract. Any failure to disclose material information may invalidate your claim and render your policy void.

Option of fee Based Service

Nestegg Wealth Brokers Ltd is remunerated by commission and other payments from the Third Party Product Producers or referral partners on the completion of business. We will receive Commissions from the Third Party Product providers in respect of any transactions that we complete on your behalf. Where we receive recurring commission, this forms part of the remuneration for initial advice and the ongoing annual review service provided. Alternatively in place of commissions you may choose to pay in full for our services by means of a fee.

Fees Directors / Senior Advisors: €100 per hour

We reserve the right to charge additional fees where required and agreed for example Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency.

If we receive commission from a product provider, this may 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 firm unless an arrangement to the contrary is made.

Mortgages 


As a mortgage agent to Finance Life and Pensions Limited 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 or may be a fee agreed separately with you for sourcing and arranging the Loan approval/Facility. A portion of this fee may be paid to us by Finance Life and Pensions Limited. 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.
If as Mortgage Agent we obtain a Loan Offer for you through Finance Life and Pensions Limited and you subsequently do not proceed with your mortgage application, we will charge you an arrangement fee of €250 for our services.


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 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. 


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. 


Default on payments by clients 


Our firm will exercise its legal rights to receive payments due to it from clients in respect of fees for services provided.
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. 


Complaints 


We ask that you make any complaint against our firm, relating to services provided by us, in writing. We will acknowledge your complaint within 5 business days and we will fully investigate it. 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 Ombudsman or the Pensions Ombudsman. A full copy of our complaints procedure is available on request.


Data Protection


Nestegg Wealth Brokers Ltd complies with the requirements of the Data Protection Acts, 1988 and 2003.The data which you provide to us will be held on a computer database, servers and paper files for the purpose of arranging transactions on your behalf. The data will be processed only in ways compatible with the purposes for which it was given. We would also like to keep you informed of mortgage, insurance, investment and any other services provided by us or associated companies with which we have a formal business arrangement; which we think may be of interest to you. We would like to contact you by way of letter, email or telephone call. If you do not wish to receive such marketing information please tick the box in the Terms of Business acknowledgement letter. We may receive referrals from such firms and may advise them of any transactions arranged for you.


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 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.

nestegg

Client acknowledgement

Terms of Business Version 24.07.2018

I acknowledge that I have been provided with a copy of the Terms of Business of Nestegg Wealth Brokers Ltd T/MyNestegg.ie and I confirm that I have read and understand them.

Direct Marketing

I confirm having read the paragraphs in relation to Data Protection in the Terms of Business and above, - and consent to Nestegg Wealth Brokers Ltd T/MyNestegg.ie - making contact with me by letter, phone, email, or SMS text in relation to the range of services provided by Nestegg Wealth Brokers Ltd T/MyNestegg.ie or its associated or partnership companies and to the sharing of relevant information as indicated.

If you do not wish to avail of these services, please tick here:

Signed:

Print Name:

Date:

Email:

Contact No.

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