Terms of Business
Terms of Business
These terms of business set out the terms under which MyRoboFP Limited T/A SproutPlans (SproutPlans) will provide financial services/advice to you. Please ensure that you read through this document carefully. If you require further clarification regarding any matter, we will be happy to deal with your queries. These terms shall apply to any service provided to you by SproutPlans Ltd and will remain in force until further notice. They also contain details of our regulatory and statutory obligations and the respective duties of both SproutPlans and you in relation to such services. Please note that by proceeding with your SproutPlans quotation or policy you agree to the terms as laid out in this Terms of Business document. By accepting these Terms of Business, you acknowledge that you have read and understand them; and you have read and understand the information contained within your chosen quotation and/or policy, which is also contractually binding on you. If any material changes are made to these terms, we will notify you.
Authorisation with the Central Bank of Ireland
MyRoboFP Limited T/A SproutPlans (C451342, 13 Ballyroan Park, Templeogue, Dublin 16) is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018. A copy of our regulatory authorization is 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
SproutPlans 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.
SproutPlans is a member of Brokers Ireland. Our principal business is to provide advice and arrange transactions on behalf of clients in relation to life and pensions products. A full list of insurers with which we deal is available on request.
We consider the adverse impacts of investment decisions on sustainability factors in our investment advice and our Insurance Based Investment Advice, at the initial stages of our research, in our recommendations and annually as part of the investment services we provide to our clients.
An assessment of sustainability risks is integrated into our Investment Advice and our Insurance Based Investment Advice through the following means:
The product information provided to us by the Product Producers and Insurers on the integration of sustainability risks.
Our professional interrogation of the information provided by the Product Producers and Insurers.
Our in house investment research as we keep our investment knowledge current and relevant.
We will advise you of the likely impacts of sustainability risks on the returns of the financial products we may recommend. This will be advised to you in your statement of suitability.
Statement of Charges
No fee for usage of SproutPlans App.
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.
Disclosure of Information
Any failure to disclose material information may invalidate your claim and render your policy void.
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. If you have not been advised of any such conflict you may assume that none arises.
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.
Money Laundering SproutPlans reserves the right to request any facts about you which it reasonably believes it needs to know in order to comply with the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010 - 2018.
At SproutPlans, providing a superior level of customer service is of paramount importance to us. However, in the event that you have cause to complain to us in relation to your policy or a service we have provided, please contact us at SproutPlans, 13 Ballyroan Park, Templeogue, Dublin 16. Whilst you are not obliged to put your complaint in writing, we would prefer it in order to understand and investigate the matter thoroughly and robustly.
SproutPlans will acknowledge your complaint within five working days. SproutPlans will attempt to investigate and resolve the complaint within 40 business days of having received the complaint. When the 40 days has elapsed, if the complaint is still not resolved, we will inform you of the anticipated timeframe within which we hope to resolve the complaint. When our investigation is complete, we will issue you a Final Response letter outlining our investigation of the complaint and our offer, if any of settlement.
If your complaint is not resolved to your satisfaction, you can refer your complaint to the Financial Services and Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2. Tel: (01) 567 7000. Email: email@example.com. Website: www.fspo.ie
Your right to take legal action is not affected by following the above procedures.
We are subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data Protection Act 2018.
SproutPlans 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 notice SproutPlans Data Privacy Notice, if this medium is not suitable, we will ensure you can easily receive a copy by hard copy.
Please contact firstname.lastname@example.org if you have any concerns about your personal data.
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.
Brokers Ireland Compensation Fund
We are also members of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme the liabilities of its members firm 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.
All communications in respect of our services will be in English.
SproutPlans reserves the right to amend these Terms of Business at any time but such amendments shall not affect any rights or obligations already accrued by you or SproutPlans. Any such revision to these Terms of Business will be notified to you by publication on our website. You will be provided with an up-to-date copy of the Terms of Business at the time of accessing our services.
The laws of Ireland apply and the Irish Courts will have jurisdiction to hear any disputes regarding your policy unless otherwise indicated on your proposal form or your policy terms and conditions.
Effective from July 2021