Last updated: (December 2023)
Terms of Business
Guardian Financial Services Ltd T/A Guardian Financial Advisors
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.
Our registered and head office is at Block D, Tyrrelstown Plaza, Tyrrelstown, Dublin 15, D15 K4P.
Our company registered number is 191555 and our Central Bank firm reference code is C2175.
Our contact phone number is +353 (0)1 687 74 17 and our website is www.gfa.ie.
Authorisation & Code of Conduct with the Central Bank of Ireland
Guardian Financial Services Ltd trading as Guardian Financial Advisors (C2175) is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018; and as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995. 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 reference code is C2175. We are also 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. We are also a member of Brokers Ireland.
Our Services
We are an Insurance & Investment Intermediary. Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life & pensions products. We are not under contractual obligation to conduct insurance distribution business exclusively with one or more insurance undertakings. We will recommend a product that in our professional opinion is best suited to your current needs. To do this, we must gather information on your personal and financial situation, and when giving investment advice, we will also need to gather information about your knowledge and experience.
If you are also a client of Fenero, and have been introduced to Guardian Financial Advisors by Fenero, by entering into this Terms of Business you consent to Fenero sharing information about your financial situation with us. The information shared will only be that which is necessary for us to recommend a product that in our professional opinion is best suited to your current needs.
A full list of insurers, product producers are Irish Life, New Ireland, Zurich Life, Aviva Life and Pensions, Standard Life, Royal London, Acorn Life, Davy Select, Conexim Quest Retirement Solutions Ltd , BCP Asset Management, , Bespoke Investments.
We will help you with any queries you may have in relation to the policies or in the event of a claim during the life of the policy. 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. We will also aid you in processing claims on policies taken out with us and in seeking renewal terms on your cover.
Sustainability Factors – Investment/IBIPs/Pension Advice
In accordance with the Sustainable Finance Disclosure Regulation (‘SFDR’), we inform you that when providing advice on insurance-based investment products/Investments, we do not assess, in addition to relevant financial risks, relevant sustainability risks as far as this information is available in relation the products proposed/advised on. This means that we do not assess environmental, social or governance events/conditions that, if they occur, could have a material negative impact on the value of the investment.
When providing advice on insurance-based investment products (‘IBIPs’) or investment advice we
do not consider the impacts of our advice that result in negative effects on sustainability factors (namely environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters), because Currently there is limited relevant products on the market which meet these criteria. The area of sustainable is relatively new and as the issue progresses, we will review our position. The business will review this approach on an annual basis in January.
Statement of Charges
We are 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 initial advice provided.
A summary of the details of all arrangements for any fee, commission other reward or remuneration paid or provided to us which have agreed with product providers is available in our office or on our website – Guardian Financial Advisors (gfa.ie). In certain circumstances, it will be necessary to charge a fee for services provided which can range from a minimum of €200 per hour to a maximum of €500 per hour. . 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 hourly fee that will apply . 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 may become the amount payable to the firm unless an arrangement to the contrary is made.
Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will notify you in advance of providing you with these 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.
Regular Reviews
Ongoing suitability assessments form part of our service to clients. This means that on at least an annual basis we will revisit our previous recommendations to assess if they remain suitable for you, taking into account any changes in your requirements that you have notified to us.
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 which may result in you having insufficient insurance cover and/or inappropriate investments. We would therefore advise that you contact us to ensure that you are provided with up-to-date advice and products best suited to your needs.
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.
Default on payments by clients
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.
Complaints
Whilst we are happy to receive verbal complaints, it would be preferable that any complaints are made in writing. We will acknowledge your complaint in writing 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 (FSPO). A full copy of our complaints procedure is available on request.
Data Protection
We are subject to the requirements of the General Data Protection Regulation 2016 and the Data Protection Act 2018. Guardian Financial Services Ltd 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 Privacy Notice, this will be given to all our clients at account opening.
We will ensure that this Privacy Notice is easily accessible. Please refer to our website Guardian
Financial Advisors (gfa.ie).
Please contact us at karena@gfa.ie if you have any concerns about your personal data.
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 informed the contract is on cover.
Investor Compensation Scheme
We are members of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd. 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.
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.
Brokers Ireland Compensation Scheme
For further information, contact the Investor Compensation Company Ltd. at (01) 224 4955.
We are also members of the Brokers Ireland Clients’ Compensation and Membership Benefits
Scheme (BIC). Full details are available upon request.
