Legal Information

TERMS OF BUSINESS, March, 2011

MacCourt Financial Planning Ltd. is an independent firm of financial consultants providing advice on Pensions, Investments, Deposits and Estate Planning. As independent brokers, we represent many of the major Life Assurance and Investment Companies. Deposits are also arranged with a number of banks.

We are regulated by the Central Bank of Ireland and our clients are covered by the Investors Compensation Company. Nonetheless, it is not our practice to handle client funds and we request that all payments/cheques are made out directly to the financial institutions which we represent. We are members of the Irish Brokers Association (IBA) and of the Professional Insurance Brokers Association Ltd. (PIBA).

Using the most sophisticated software packages available in the marketplace, we can efficiently analyse our client requirements and offer the highest professional standards of reporting and advice.

An associate company, MacCourt Trustees Ltd., was appointed as a pensioneer trustee by the Revenue Commissioners in 1995 and has Revenue approval to operate Self Administered Pension Schemes.

MacCourt Financial Planning won the MoneyMate and Investor Magazine 2006 Pension and Investment Adviser of the Year Award.

Background of Principal

Gervase MacCourt, QFA FLIA, Managing Director has over 30 years experience in the pensions and investment business. Prior to establishing MacCourt Financial Planning in 1991, he was an associate director with Coyle Hamilton Ltd., where he was responsible for pensions and investments from 1985. He previously worked for Caledonian Life from 1979.

Gervase is a Gold Medal Award winner for the LIA (Life Insurance Association) Examinations.

Fund Managers Used

Deposits Arranged through:

MacCourt Financial Planning is not authorised under the Investment Intermediaries Act, 1995 for non-insurance investments to accept cash or other funds, or securities on behalf of clients, or to act on a discretionary basis in the management of client funds.

COPYRIGHT © 2011 MacCourt Financial Planning Ltd. All rights reserved.

Contact Details

MacCourt Financial Planning Ltd.,
46 Lower Leeson Street,
Dublin 2
Tel: +.353.(0)1.6614800
Fax: +.353.(0)1.6614878
Email: info@MacCourt.ie
Web:: www.maccourt.ie

Authorised Status

MacCourt Financial Planning Ltd. is regulated by the Central Bank of Ireland as an Authorised Adviser under the Investments Intermediaries Act, 1995 and as an insurance intermediary registered under the European Communities (Insurance Mediation) Regulations, 2005. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on telephone number 01 4104000 or alternatively you may visit their website on www.centralbank.ie to verify our credentials.

This firm does not have any "tied" relationships with any institution that would compromise our ability to offer you independent advice and choice.

As an Authorised Advisor, MacCourt Financial Planning Ltd. is authorised to provide investment advice, and to receive and transmit orders to product producers, in relation to:

• Insurance Policies
  
  
• Tracker bond or similar instrument
  
  
• Units in a unit trust or other collective investment scheme
  
  
• Shares in a company which is listed on a stock exchange or bonds so listed
  
  
• Personal Retirement Savings Accounts (PRSAs).

MacCourt Financial Planning Ltd. may also act as a deposit broker.

We may receive and transmit orders on your behalf for a product(s) to one or more of the Product Producers listed in the terms of business.

Reviews

Remuneration Policy

MacCourt Financial Planning Ltd. is a fee based advisors. If this structure does not suit we may transact business on a commission basis. In certain circumstances, including initial consultations where no / insufficient business results, an additional consultancy / administration charge may apply at the rate per hour charged for fee based advice for the provision of broad based advice regarding life assurance, pensions and investments. Fees are charged on a time spent and disbursements basis. In determining the rate and any additional charges, factors such as specialist skills, complexity, value, risk and urgency will be taken into account.

If we arrange a product for you with a Product Producer, with whom the firm holds an agency appointment, the fee charge may be offset against commission payable by the Product Producer.

Where the commission payable by the Product Producer is greater than the fee charge, the balance will be retained by the firm and where the commission payable is less than the fee charge the balance will be payable by the client.

Occasionally we receive volume override commissions which are not identifiable against each client individually. These override commissions are not credited to individual fee accounts, however they only amount to approximately 2.5% of overall turnover.

Conflict of Interest and Complaints

• It is the policy of the firm to 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 arises.
  
  
• This firm has a written procedure in place for the effective consideration and handling of complaints. This procedure ensures that complaints will be recorded and written complaints acknowledged in writing within 14 days. All complaints will be fully investigated and the outcome of the investigation will be communicated to the person who raised the complaint.

In the event that you remain dissatisfied with the firms handling of and response to your complaint contact may be made with the Central Bank of Ireland, PO Box 559 Dame Street, Dublin 2. and / or the Irish Brokers Association, 87 Merrion Square, Dublin 2 or and of the Professional Insurance Brokers Association Ltd. (PIBA), 32 Greenmount Office Park, Harold's Cross, Dublin 6w.

The Financial Services Ombudsman (FSO) Bureau was established on a statutory basis under the Central Bank and Financial Services Authority of Ireland Act 2004 and opened for business on Friday, 1 April 2005. Contact and procedure details are included under a separate heading at the end of this document.

Financial Services Ombudsman’s Bureau
32 Upper Merrion Street
Dublin 2
LoCall: 1890 88 20 90
Telephone Number: 01 6620899
Fax: 01 6620890

Consumer Protection

*Investor Compensation Company Ltd. (ICCL)
This firm 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 the payment, in certain circumstances, of compensation to clients of firms covered by the Act. However, you should be aware that a right to compensation will only arise where money or investment instruments held by this firm on your behalf cannot be returned either for the time being or for the foreseeable future and where the client falls within the definition of eligible investor as contained in that Act. In the event that a right to compensation is established, the amount payable is the lesser of 90 percent of your loss which is recognised as being eligible for compensation or €20,000.

In addition to the Compensation available under the "Investor Compensation Act, 1998", MacCourt Financial Planning Ltd. is bonded through its membership of IBA for €200,000 with an inner limit of €65,000 per client.

Handling Clients' Money

MacCourt Financial Planning Ltd. will not accept payments in cash. All cheques and drafts are to be made payable directly to the relevant financial institution where they are being invested / paid as a premium.

Where the client fails to pay:

In the event that a client fails to pay the insurance company within the credit terms agreed when cover is arranged, this firm will not take responsibility for the lapse in policy and will therefore have no further liability in relation to same. For fee based client's non payment of fees to MacCourt Financial Planning Ltd. is outlined in the Commission/Fee Agreement.

Receipts

Commission / Fee Agreement And Details of Charging Structures Available.

Notes in relation to fee based charges

• Deposits  (Anglo Irish Bank/Investec/Permanent TSB/Rabo):  
  0.3% on retail products
  
  
• Share transactions (Davy/Goodbody/Merrion/Quilter):
  33% of commission received by our office, this is an adjusted allowance for bonding / PI insurance costs.
  
  
• Unit linked bonds (with most insurers):
  up to 3% year one and up to 0.5% per annum thereafter.
  
  
• Pension Plans:
  up to 5% year one and up to 0.5% per annum thereafter.
  
  
• Term / Critical Illness / Permanent Health Insurance:
  up to 90% year one and up to 3% per annum thereafter.

All financial advice and arranging / servicing of financial products

The company will maintain a notional client account for the purpose of charging fees for work undertaken on the client’s behalf. Fees are calculated based upon a rate per hour plus outlay, if relevant. Regular statements of account will be issued by the company.

Any new business sales commissions received by the company derived from products purchased by the client on the advice of the company are credited to the clients’ account. If insufficient commission earnings are made, the company may at its sole discretion invoice the client for any balance of fees remaining on the client account and payment will be made to the company by the client within 30 days.

If the client’s account remains substantially in credit resulting from excess commission earnings, the company will endeavour to complete subsequent transactions on a reduced/nil commission basis which will result in enhancement of investment value for the client. In accordance with a recent Revenue Commissioner’s directive, surplus commissions cannot be returned to the client.

This agreement can be cancelled at any time by written notification from either party. Any fee outstanding will then become payable immediately by the client to the company. Any surplus will be retained by the company

Present hourly rates are set out below (June 2010). These may change from time to time, subject to notice. Presently there are no VAT implications for fees charged in relation to agency services. This may change in the future.

(These Terms of Business are valid from March 2011
until further notice)