Vincent Casey Life and Pensions Co
Vincent Casey Life and Pensions Company Limited
Authorisation with the Central Bank of Ireland
Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life & pensions/ deposit products. A full list of insurers & product producers with which we deal is available on request.
Insurance Intermediary Services
We act as a Broker:
a) the principal regulated activities of the firm are provided on the basis of a fair and personal analysis of the market; and
b) you have the option to pay in full for our services by means of a fee.
Fair and Personal Analysis
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.
- When providing advice the firm does not consider the adverse impacts of investment decisions on sustainability. The firm will review this approach on an annual basis in March of each year. We do however continue to promote ESG and when considering investment decisions will liaise with the various product providers to ensure that ESG is an important factor regarding the various investment vehicles that they invest in.
Insurance based Investment Products
Life & Pensions/Deposits & Investments
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.
Share Dealing Services
Disclosure of Information
Life, Pensions & Life Wrapped Investment Fees
Commission earnings occur when a product sale is made, in view of the level of service and advice you will receive over the life cycle of that product.
Our model is based on charging for advice as you receive it rather than just taking commission on the product sale at the outset. In other words, we want to offer our clients impartial and ongoing advice on a regular basis and get remunerated for this without having to make a sale.
Financial services and products can be difficult to understand, yet we need them to make ourselves financially independent at various stages of our lives.
We will help you prepare for these important stages and create bespoke plans to achieve your financial objectives over an agreed timeframe and according to the level of risk you are willing to take. We will review these plans in line with your changing needs and you will benefit from increased transparency and 28 years of expertise and experience.
We are changing to what we believe is a partnership with our clients and we look forward to working with you based on our new service levels of which we have 3 options:
1) Five Star Service
- Structured review of client’s portfolio twice yearly
- Unlimited availability for additional reviews and queries over the year
2) Four Star Service
- Structured review of client’s portfolio once yearly
- Availability for additional reviews and queries up to 3 times per year
3) Three Star Service
- Structured review of client’s portfolio annually
- Additional reviews and queries available at a rate of € 200 per hour
Payments will be made predominantly through funds under management, where we will agree a percentage of funds that will be deducted on an annual basis, typically 0.5%.
This is the most tax efficient method of paying for clients. Clients will however have the choice of making payments by cheque or monthly by standing order.
We also have an additional service for clients who do not seek advice but who wish to do business on an execution only basis. The payment method for this is by means of commission from the sale of the product subject to a minimum of € 200 per hour and a maximum hourly rate of € 400.
A Full list of our fees is contained on the last page of this document.
What you can expect from us:
- We will continue to monitor your investments, help you understand them and answer any queries you may have
- We will use our expertise to help you achieve your financial goals and deliver them in a reasonable timeframe
- We will continue to keep in touch with market movements and any changes in the financial world so that we can apply these insights and provide you with tailored investment advice
What we expect from you:
- Input and commitment to the process
- Honest Feedback on our service
- Ask questions if anything doesn’t make sense and engage in the process so that you fully understand and together we can help you achieve your financial goals
Statement of Charges
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. We reserve the right to charge additional fees if the number of hours relating to on-going advice/assistance exceeds 10 hrs.
In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below. 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 provide the exact amount, we will provide you the method of calculation of the fee.
If we receive commission from a product provider, this may/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. Our scale of fees for such cases range from a minimum €150 per hour to a maximum of €250 per hour.
Personal Retirement Savings Accounts (PRSAs) – Fees
Advisor fees: €200 per hour.
Support staff: €40 to €60 per hour.
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, our scale of fees for such cases range from a minimum of €200 per hour to a maximum of € 400 per hour. 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.
Insurance based Investment Products
Conflicts of interest
Default on payments by clients
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.
We are subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.
Vincent Casey Life & Pensions Co. 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 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 www.lifeandpensionsco.ie, if this medium is not suitable we will ensure you can easily receive a copy by hard copy, or telephonic environment.
Please contact us at firstname.lastname@example.org if you have any concerns about your personal data.
Investor Compensation Scheme
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;
- Compensation of up to €20,000
For further information, contact the Investor Compensation Company Ltd. at (01) 224 4955.