Member of Brokers Ireland.
Maher & Richardson I.rd is regulated by the Central Bank oflrcland.
Chairman: Derek Maher Managing Director: Barry Maher Director: Stephen Maher Director:Jean Maher Registered in Republic of Ireland Reg No. 25302
Conflict of Interest
It is the policy of Maher & Richardson Ltdto avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise, we will advise you of this in writing before providing any business service. If you have not been advised of any such conflict you may assume that none arise.
Complaints Procedure
Whilst we are happy to receive verbal complaints, it would be preferable that any complaints are made in writing. Maher & Richardson Ltd has a written procedure in place for the effective consideration and handling of complaints. Any complaints should, be addressed in writing to the Managing Director, Maher & Richardson Ltd. We will acknowledge each complaint within 5 working days of receipt. Updates will be, advised in intervals of not more than 20 working days. We will endeavour to resolve the complaint within 40 business days and findings will be, furnished to you within 5 working days of completion of the investigation. In the event that you are not entirely satisfied with the firms handling of and response to your complaint, you have the right to complain to the Financial Services and Pensions Ombudsman, 3rd floor, Lincoln House, Lincoln Place, Dublin 2. Call 01 567 7000 or email info@fspo.ie.
Consumer Protection: Compensation Scheme
Maher & Richardson Ltd is a member of the Investor Compensation Scheme established under the Investor Compensation Act 1998. This legislation provides for the establishment of a compensation scheme and to payment in certain circumstances, of compensation to clients of firms covered by the Act. However, you should be that a right to compensation will only arise where money or investment instruments held by Maher & Richardson Ltd on your behalf cannot be returned either for the time being or in the foreseeable future and where the client falls within the definition of eligibility investor as contained in the Act. In the event that a right to compensation is established, the amount payable is the lesser of 90% of the client’s loss, which is recognised as being eligible for compensation, or €20,000.00
Maher & Richardson Ltd is also a member of the Brokers Ireland Clients’ Compensation and Membership Benefits Scheme (BIC). 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.
Handling Clients’ Money
Maher & Richardson Ltd will accept payment in cash and by cheque in respect of all classes of investments as an investment product intermediary defined under section 25 of the investment Intermediaries Act, 1995.
In all other circumstances, payments should be made in favour of the product provider and not to Maher & Richardson Ltd.
Failure on Payments by Clients
Your insurer may cancel your policy in certain circumstances including failure to pay premiums. These conditions are clearly set out in all policy documents.
We will also exercise our legal right to receive any payment due to us for business services provided in the event of a default in payment due under policies or other products arranged for you.
Duty of Disclosure
You are required to answer all questions asked by the insurer honestly and with reasonable care. If you fail to disclose material information in response to any of the questions asked the insurer may seek to withhold cover or refuse liability for claims. If you do not provide updated answers to questions asked by the insurer at renewal, it shall be presumed that the information provided has not changed.
Terms of Business Effective September 2024
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.
Authorised Status
Maher & Richardson Ltd (C4285) 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.
Maher & Richardson Ltd is also authorised as a deposit broker.
Codes of Conduct
We are subject to the Consumer Protection Code, Minimum Competency Code, Fitness & Probity Standards and the Handbook of Prudential Requirements for Investment Intermediaries, which offer protection to consumers. These Codes can be found on the Central Bank’s website www.centralbank.ie
Our Services
Maher & Richardson Ltd is authorised to provide the following services: –
• Offer advice in relation to all classes of non-life insurance: motor, property, liability, marine etc.
• Receive and transmit orders on your behalf for a product (s) to one or more of the Product Producers listed in Appendix 2.
Our firm provides its non-life services to our clients on a fair analysis basis. “Fair analysis of the market” means that our firm provides its life services on the basis of a sufficiently large number of contracts and product producers available on the market to enable our firm to make a recommendation, in accordance with professional criteria, regarding which contract would be adequate to meet our clients’ consumer needs.
Our firm does not have any “tied” relationships with any institution that would compromise our ability to offer you independent advice and choice. Maher & Richardson Ltd is also a member of Brokers Ireland.
Here is a full list of insurers and product providers that Maher & Richardson Ltd deals with:
Remuneration Policy
Maher & Richardson Ltd may apply an administration charge for the provision of advice regarding General Insurance business. Rates and fees are agreed with clients in advance. The fee structure is as follows: Managing Director- €300.00. Directors – €175.00. Insurance Staff – €80.00. Should an amendment or alteration to your existing Insurance Policy occur during the course of your Insurance Term, resulting in correspondence, paperwork, etc. Maher & Richardson Ltd will apply an administration charge of €25.00.
Please also note that our firm is remunerated by commission and other payments from products providers for the services we provide to you Details of remuneration are available on request or can be viewed on our website www.maherrichardson.ie
Data Protection
The firm complies with the requirements of the General Data Protection Regulation 2018 (GDPR) and the Irish Data Protection Acts 1988-2018, as amended. The data that you provide to us will be held on a computer database 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 and as outlined in our Privacy Notice that is given to all clients at the time of data collection. Our Privacy Notice is also available on our website. You have the right at any time to request a copy of any ‘personal data’ within the meaning of the GDPR that our office holds about you and to have any inaccuracies in that information corrected. Please contact us at barry.maher@maherrichardson.ie if you have any concerns about your personal data.