Terms of Business

These Terms of Business outline how MyRoboFP Limited T/A SproutPlans (“SproutPlans”) will provide financial services and advice to you. Please read this document carefully. If you have any questions, we’re happy to help.

These terms apply to all services provided by SproutPlans and remain in effect until further notice. They include our regulatory and legal obligations, as well as the responsibilities of both SproutPlans and you.

By proceeding with a SproutPlans quotation or policy, you confirm that you have read, understood, and accepted these Terms of Business, along with the details of your chosen quotation or policy, which are contractually binding.

We will inform you of any material changes to these terms.

Authorisation with the Central Bank of Ireland

MyRoboFP Limited T/A SproutPlans (C451342, Office 1 Orion House, 53 Main Street, Rathfarnham, D14WF25) 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.

Our Services

Our principal business is to provide financial planning advice and arrange best fit product solutions and transactions on behalf of clients.

With regards to product solutions we may provide specific recommendations on investments and unit linked savings, pension products (pre and post-retirement), life cover which includes, but is not limited to, mortgage protection, family protection, term life assurance, life cover in trust, serious illness cover and income protection. A full list of insurers with which we deal is available on our website.

SproutPlans is a member of Brokers Ireland.

Fair Market Analysis

Any product specific recommendations we make to our clients consider the offerings of all the providers with whom we hold an agency. Each recommendation made to our clients is done so on an individual basis considering in the first instance a client’s specific investment and sustainability preferences.

On an annual basis we analyse the main funds across our six regulated partners and compare their past performances next to each other and against market conditions. In completing this analysis, we can identify those funds which are currently outperforming peers when looking at the five previous full calendar years. PLEASE NOTE THAT PAST PERFORMANCE IS NO GUIDE TO FUTURE RETURNS. All our investment and pension recommendations are reviewed on an informal basis monthly (in house) and formally with our investors annually. This ensures that funds and portfolios are regularly monitored to ensure they are still aligned to the individual client’s preferences and behaving as expected as markets change.

Sustainability Considerations

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. In such circumstances, these will be advised to you in your statement of suitability.

Our Fee Approach

We don’t charge for our time or for creating financial plans.

If you choose to act on any of our recommendations, we receive payment from our partners. This payment is fair, competitive, and clearly explained in your suitability letter before you make any decisions.

We’ve chosen this model because we believe it makes financial advice more accessible to more people.

As required by the Central Bank, you can find details of the maximum potential payments we may receive from each provider and their products on our website.

Regular Reviews

We offer formal annual reviews for all pensions and investments you hold with us. During these reviews, we look at how your portfolio has performed over the past year, whether it meets your expectations, and if it still matches your investment preferences.

Our investment approach is long-term. We aim for your products to remain in place until your goals or circumstances change.

For life assurance, your needs may shift over time. We’ll do our best to check in with you each year, but if your situation changes—such as your income, family status, or financial goals—we recommend reviewing your cover and letting us know. This helps us give you the most relevant advice.

Please note: if you don’t update us about changes or request a review, you may end up with insurance that no longer meets your needs.

Important Notice About Life Insurance Applications

When applying for life insurance, it’s essential to provide full and accurate information. If you leave out or misrepresent any important details, your policy may be cancelled and future claims could be denied.

Conflicts of Interest

We aim to avoid any conflicts of interest when providing services to you. If a conflict does arise and cannot be avoided, we will let you know in writing before we begin any work.

You can request a full copy of our conflicts of interest policy at any time.

If we haven’t informed you of a conflict, you can assume there isn’t one.

Missed Payments and Your Cover

If payments are missed on your insurance policy or other financial products, the provider may reduce or cancel your benefits or cover.

For full details on how this works, please check the terms and conditions in your policy documents.

Money Laundering Checks

To meet legal requirements under Irish law, SproutPlans may ask you for certain information about yourself. This helps us comply with the Criminal Justice (Money Laundering and Terrorist Financing) Acts 2010–2018.

We’ll only request details we reasonably believe are necessary to meet these obligations.

Complaints

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Customer Complaints Procedure

At SproutPlans, we’re committed to delivering excellent customer service. If you’re unhappy with any aspect of your policy or the service you’ve received, we want to hear from you.

You can contact us at:
SproutPlans
Office 1, Orion House
53 Main Street
Rathfarnham
Dublin 14
D14 WF25

You don’t have to put your complaint in writing, but we’d prefer it—this helps us fully understand and investigate the issue.

What Happens Next:

We’ll acknowledge your complaint within five working days.
We aim to resolve it within 40 business days.
If we need more time, we’ll let you know and provide an updated timeline.
Once our investigation is complete, we’ll send you a Final Response letter explaining our findings and any offer of resolution.

If You’re Still Not Satisfied:

You can refer your complaint to the Financial Services and Pensions Ombudsman:
Address: Lincoln House, Lincoln Place, Dublin 2
Phone: (01) 567 7000

Email: info@fspo.ie

Website: www.fspo.ie

Your right to take legal action is not affected by following the above procedures.

Data Protection

SproutPlans Ltd. complies with the General Data Protection Regulation (GDPR) 2018 and the Irish Data Protection Act 2018. We’re committed to protecting your privacy and being transparent about how we handle your personal data.

We process your data only for the purposes it was provided, and always in line with our Data Privacy Notice, which you’ll receive when we collect your information.

We make this notice easy to access. If you prefer a printed copy, just let us know and we’ll provide one.

Our Privacy Policy explains:

What personal data we collect
Why we collect it
How we use it
Your rights under data protection law

By requesting a quote or arranging a policy with SproutPlans, you agree to the terms of our Privacy Policy.

If you have any questions or concerns about your personal data, please contact:
📧 plan@sproutplans.com

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) 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.

Language

All communications in respect of our services will be in English.

Variation

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.

Jurisdiction

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.