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
Fair and personal analysis means we look at a broad range of products and providers before making any recommendation to you. We only recommend a product when we believe it is suitable for your needs, based on a wide review of what’s available in the market.
Because different markets have different numbers of providers, the range we consider will vary. However, our analysis always reflects what a professional adviser could reasonably be expected to review, taking into account the availability of information and the practicality of accessing products through intermediaries.
To make sure our review is genuinely broad and fair, we consider factors such as:
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your needs and goals
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the size of your investment
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the number of providers who work with brokers
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each provider’s market presence
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the range of relevant products they offer
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the quality of their products and service
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and any other factor that may be relevant to your situation
This approach ensures that any recommendation we make is based on a well‑rounded view of the market and tailored to you.
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 policy 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 we will 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.
Sustainability Considerations
In line with the Sustainable Finance Disclosure Regulation (SFDR), we consider sustainability risks when advising on investments and insurance‑based investment products. This means that, in addition to financial risks, we look at environmental, social, and governance (ESG) factors that could negatively affect the value of an investment if they occur.
We integrate sustainability risks into our advice by:
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reviewing the sustainability information provided by product producers and insurers
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engaging with providers to clarify or expand on any sustainability‑related queries
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incorporating our own ongoing in‑house research to keep our knowledge current
This information is reviewed regularly by our firm to ensure it remains up to date and relevant.
When we recommend a product, we will explain how sustainability risks may affect its potential returns. These details will be clearly outlined in your Statement of Suitability.
Principal Adverse Impacts (PAIs)
At present, we do not consider the Principal Adverse Impacts (PAIs) of investment decisions on sustainability factors in our advice. This means that when we recommend investments or insurance‑based investment products, we may not assess how those recommendations could contribute to negative effects on areas such as the environment, social and employee matters, human rights, or anti‑corruption.
We take this approach because the information available on PAIs is still limited, and we rely on third‑party providers to accurately report and classify the sustainability characteristics of the products they offer.
As the sustainable investment market continues to mature and more reliable information becomes available, we will keep our position under review.
Impact on Return
We also assess how sustainability risks may affect the potential returns of the insurance‑based investment products (IBIPs) and investments we advise on. Using the information provided by each product manufacturer, we consider whether environmental, social, or governance (ESG) risks could influence long‑term performance. Our estimate of these likely impacts will be outlined in your personalised advice documents.
The good news is that, with the growing global focus on sustainable investing, the quality and performance of many sustainable investment options have improved significantly. Investing in line with your sustainability preferences does not necessarily mean sacrificing returns. Many sustainable funds are designed to balance strong financial performance with responsible investment principles.
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.
Ongoing Suitability Reviews & Recurring Remuneration
We provide a formal annual suitability 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’s meeting your expectations, and whether it still reflects your investment preferences.
Our investment approach is long‑term, so we expect your products to stay in place unless your goals or circumstances change.
For life assurance, your needs may evolve over time. We will do our best to check in with you each year, but if your circumstances change, such as your income, family situation, or financial goals, we recommend reviewing your cover and letting us know. Otherwise, there is a risk that your policy may no longer meet your needs.
We also want to let you know that we receive ongoing remuneration from the product providers for the services we deliver to you. This is typically based on a percentage of investment and pension assets that you implement through us and this is currently 0.25% a year.
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
It is our firm’s policy to avoid any conflicts of interest when providing services to you. If a situation arises where a conflict cannot be avoided, we will tell you in writing before we provide any service. We will also take every reasonable step to manage the conflict and minimise any impact on you.
A full copy of our Conflicts of Interest Policy is available on request. If we have not informed you of a conflict, you can assume that none exists.
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
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 so we can put things right.
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 encourage it as it helps us fully understand and investigate the issue. We accept complaints by post or electronically
What Happens Next
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We will acknowledge your complaint in writing within .
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We will investigate it as quickly as possible.
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You will receive an update at least every .
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We aim to resolve your complaint within .
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When our investigation is complete, we will send you a letter explaining our findings and any proposed resolution.
If You’re Still Not Satisfied
If you are not happy with our Final Response, you can refer your complaint to the Financial Services and Pensions Ombudsman (FSPO):
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 using our complaints process.
A full copy of our Complaints Procedure is available on our website or on request.
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:
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What personal data we collect
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Why we collect it
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How we use it
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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. (ICCL). This scheme was established under the Investor Compensation Act 1998 to provide compensation to eligible clients of authorised investment firms in certain circumstances.
Compensation may be payable where money or investment instruments belonging to clients cannot be returned by the firm, and where there is no reasonably foreseeable opportunity that the firm will be able to do so.
A right to compensation arises only where:
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The client is an as defined in the Act
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The firm is unable to return client money or investment instruments
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The client’s loss is recognised for the purposes of the Act
Where compensation is due, the amount payable will be the lesser of 90% of the recognised loss, or €20,000.
For further information, you can contact the Investor Compensation Company Ltd. at (01) 224 4955.
Brokers Ireland Compensation Fund
We are also members of the Brokers Ireland Clients’ Compensation and Membership Benefits Scheme (BIC). Under this scheme, and subject to its rules, the fund may discharge the liabilities of a member firm up to €100,000 per client (or €250,000 in aggregate) if the firm is unable to do so and where the Investor Compensation Scheme has not fully compensated the client.
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.
Juridisdiction
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.