Terms of Business

Outlined below are the Firms Terms of Business, which outline the basis on which we provide services to our clients and are effective from 01/01/2013(version 4). Please ensure that you read this document. These Terms of Business apply to all business transactions undertaken for you or services provided to you and will remain in force until further notice. Should we make any material changes to our Terms, we will advise you in advance of providing any further services to you.

Data Protection

Allied Financial complies with the requirements of the Data Protection Acts 1998, 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. We would also like to keep you informed of various mortgage, insurance, investment, and any other services provided by us or associated companies with which we have a formal business arrangement, and which we think may be of interest to you. We may receive referrals from associated companies and may advise them of any transactions arranged for you. If you do not wish to receive such marketing information please inform us.


Yours Truly

Allied Financial


Direct Marketing

I confirm having read the paragraphs in relation to Data Protection in the Terms of Business and above, and consent to Allied Financial making contact with me by letter, phone, email, or SMS text in relation to the range of services provided by Allied Financial 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 let us know or select unsubscribe from our next communications relevant on these topics

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.


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 (fees and insurance premiums) 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.


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) 410 4955.

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.



Allied Financial can arrange deposits on a fair analysis basis.



Allied Financial can arrange products on a referral basis through IRM from the following range:  Household & Motor Insurance, IRM provides general insurance on a fair analysis basis.

Allied Financial can arrange products on a referral basis through Zurich from the following range:  Household & Motor Insurance. Zurich provides general insurance on a laminated analysis basis.

We will also offer Aviva Home Insurance on a limited analysis basis.

We also offer Health Insurance from Aviva on a limited analysis basis.

To ensure continuity of cover, where you have an existing policy which is due to expire and where we have been unable to contact you, we may put continuing cover in force whilst awaiting your instruction. You will be liable for any premiums payable to the relevant insurer for the period of time between renewals and when we receive your instruction. You have the right not to avail of this service.


Mortgages :

We hold an agency with IFG Investment & Mortgage Services Ltd t/as One Network & through the lenders or other undertakings with which they hold an agency, Allied Financial can provide advice on and arrange mortgage products from the following range:fixed & variable rate mortgages, capital & interest mortgages, interest only mortgages, and residential investment property mortgages.


Allied Financial provides mortgage advice on a fair analysis basis. 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 upon our request.


Disclosure of Information:

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


Allied Financial is remunerated by commission and other payments from product producers or lenders 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 initial advice provided.

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.


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 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 intermediary unless an arrangement to the contrary is made.


Non-Life Remuneration:

Allied Financial is remunerated by commission from insurers on completion of business.  Details of this remuneration are available on request.



We may receive up to 0.78% (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender. In addition to this a €100 application fee is payable to IFG Mortgage Services for processing and handling of your mortgage application which is non refundable.


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 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 will charge you an arrangement fee of €500 for our services.

Allied Financial :

These Terms of Business are effective from the 01/01/2013 (version 4)  and 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;

Mark Winters & Henry Bourke T/A Allied Financial is regulated by the Central Bank of Ireland as a Multi-Agency Intermediary authorized under the Investment Intermediaries Act, 1995; as a Mortgage Intermediary authorized under the Consumer Credit Act, 1995; and as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005. 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 @ 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify our credentials.


Codes of Conduct:

Allied Financial is subject to the Consumer Protection Code, Minimum Competency Code and the Fitness & Probity Standards which offer protection to consumers. These codes can be found on the Central Banks website www.centralbank.ie.


Our Services:

Allied Financial is a member of the Professional Insurance Brokers Association (PIBA). As a member of PIBA we must be in a position to place insurance with at least five insurers of the relevant form  (life/non-life) and therefore can generally give consumers greater choice than agents and tied agents. Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life insurance/ pensions / PRSAs /mortgages /investments / deposits/private health insurance & general insurance products. A full list of insurers, product producers and lending agencies with which we deal with is available on request.

Allied Financials acts as a Financial Broker which means that;

(a) The principal regulated activities of the firm are provided on the basis of a fair analysis of the market;


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, 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 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 and the cost, and any other relevant consideration.


Life, Pensions & Investments:

Allied Financial can arrange life insurance, pensions, PRSA & investments on a fair analysis basis.


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 check the application forms on completion and read the policy documents literature and brochures to ensure that the personal information contained therein is correct, and to ensure that you understand the nature of the policy cover; particularly in relation to PHI and serious illness policies.


Terms of Business

I acknowledge that I have been provided with a copy of the Terms of Business of Allied Financial and confirm that I have read and understand them.