Terms of Business

Our trading names are Mason Financial Services Limited trading as Mason Wealth Management, Mason Financial Services and Mason Mortgage Brokers.  Our registered office is at 73 Lower Leeson Street, Dublin 2, phone number (01) 4984960, fax number (01) 4984966.  Our website address is www.masonwealth.ie We are Registered as an insurance/reinsurance intermediary under the European Communities (Insurance Distribution) Regulations, 2018 (as amended). Authorised as an Investment Business Firm under Section 10 of the Investment Intermediaries Act, 1995 (as amended). Mortgage Credit Intermediaries established and maintained by the Central Bank of Ireland persuant to the European Union (Consumer Mortgage Credit Agreements) Regulations 2016. Authorised as a mortgage intermediary under the Consumer Credit Act, 1995 (as amended).

Copies of our authorisations are available on request or you may verify these on the Central Bank of Ireland’s website http://www.centralbank.ie/ or by contacting the Central Bank of Ireland on 1890 77 77 77.

Mason Wealth Management do not have any “tied” relationships with any institution that could compromise our ability to offer clients financial advice.

Mason Wealth Management is a member of Brokers Ireland (BI).

Mason Wealth Management is subject to the following Codes of conduct issued by the Central Bank of Ireland. Consumer Protection Code 2012, Minimum Competency Code 2011, Fitness & Probity Standards, Handbook of Prudential Requirements for Investment Intermediaries.   These codes offer protection to our clients and all of the Codes can be found on the Central Bank website www.centralbank.ie

The concept of fair and personal analysis describes the extent of the choice of products
and providers offered by an intermediary within a particular category of life assurance,
mortgages, and/ or a specialist area. The number of contracts and providers considered
must be sufficiently large to enable an intermediary to recommend a product that
would be adequate to meet a client’s needs.
The number of providers that constitutes ‘sufficiently large’ will vary depending on the
number of providers operating in the market for a particular product or service and
their relative importance in and share of that market. The extent of fair & personal
analysis must be such that could reasonably be expected of a professional conducting
business, taking into account the accessibility of information and product placement to
intermediaries and the cost of the search.
In order to ensure that the number of contracts and providers is sufficiently large to
constitute a fair and personal analysis of the market, we will consider the following
criteria:
1) the needs of the customer,
2) the size of the customer order,
3) the number of providers in the market that deal with brokers,
4) the market share of each of those providers,
5) the number of relevant products available from each provider,
6) the availability of information about the products,
7) the quality of the product and service provided by the provider,
8) cost, and any other relevant consideration.

SERVICES
Mason Wealth Management provides expert advice and experience to our
clients. Mason Wealth Management offers broad based advice in relation to all classes
of life assurance products (whole of life, term cover, serious illness, pensions, savings
investments) & Mortgages on a fair & personal analysis of the market available. The
Company in addition transmits orders on behalf of consumers’ to insurance
undertakings and product producers.
We provide advice and execute orders on the following:
Life Assurance (Mortgage Protection, Term, whole of Life cover)
Permanent Health Insurance / Salary Protection
Serious Illness Cover
Retirement Planning – Creating Retirement Assets
Lump Sum Investments
Savings oriented Life Assurance Products
Investment Strategy
Portfolio Planning
Independent Financial Planning – Tax Shelters
Inheritance Tax Funding
Keyman Assurance
Partnership Assurance
Mortgages

We provide life assurance, pensions & life wrapped investments on a fair and personal
analysis basis i.e. providing services on the basis of a sufficiently large number of
contracts and product producers available in the market to enable us to make a
recommendation, in accordance with professional criteria, regarding which contract
would be adequate to meet your needs.
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.

When providing advice, Mason Wealth Management consider the adverse impact of
investment decisions on sustainability. As part of our research and assessment of
products, Mason Wealth Management will examine the Product Providers literature to
compare financial products and to make informed investment decisions about
environmental, social and governance (ESG) products. Mason Wealth Management will
at all times act in the client’s best interests and keep clients informed accordingly. The
consideration of sustainability risks can impact on the returns of financial products

Through the lenders or other undertakings with which we hold an agency, Mason
Wealth Management can provide advice on and arrange mortgage products from the
following range: fixed-rate loans, variable rate mortgages, capital & interest mortgages, interest only mortgages, endowment mortgages, pension mortgages and residential
investment property.
We provide mortgage advice on a fair & personal analysis basis (providing services on
the basis of a sufficiently large number of contracts and product producers available in
the market to enable the firm to make a recommendation, in accordance with
professional criteria, regarding which contract would be adequate to meet your needs).
Mason Wealth Management cannot be held responsible for any underwriting policies
with the lending institutions or insurance companies we hold agencies with, these
policies are a matter for the respective institutions. Approval in Principles/Loan Offers
are subject to change, Mason Wealth Management take no responsibility for any
decision by a lender to amend or revoke a formal or informal offer from lending
institutions or insurers.

We are remunerated by commission and other payments from product producers or
lenders on the completion of business.
You may choose to pay in full for our services by means of a fee. Where we receive
recurring commission, this forms part of the remuneration for initial advice
provided. We reserve the right to charge additional fees if the number of hours relating
to on-going advice/assistance exceeds the expected time required and we will agree
these fees in advance.
If we receive commission from a product provider, this may/will be offset against the
fee which we will charge you. Where the commission is greater than the fee due, the
commission may become the amount payable to the firm unless an arrangement to the
contrary is made.
A summary of the details of all arrangements for any fee, commission, other reward or
remuneration paid or provided to the intermediary which it has agreed with Insurers or
product producers” is available on our website www. masonwealth.ie
Life and Pensions, and Insurance based Investment Products
We are remunerated by commission for the advice we provide on Protection policies.
On Pension and Insurance based Investment products. We may also charge a fee which
will be agreed with you and outlined in writing prior to the policy being effected.
We may receive trail commission on these products and we provide ongoing service to
you for this including:
Financial Planning, ensuring strategic asset allocation, the rebalance of the investment
portfolio, annual Investment review, ongoing Investment behavioural advice.
You may elect to deal with us on a fee basis and our hourly rate is as follows:
Principles / Directors €250
Support staff €100
Investment Intermediary Services
We are remunerated by commission for our investment intermediary services. We may
also charge a fee which will be agreed with you and outlined in writing prior to the
policy being effected.
We may receive trail commission and we provide ongoing service to you for this
including:
Financial Planning, ensuring strategic asset allocation, the rebalance of the investment
portfolio, annual Investment review, ongoing Investment behavioural advice.
Additional fees may be payable for complex cases or to reflect value, specialist skills or
urgency. our scale of fees for such cases is as follows;

You may elect to deal with us on a fee basis and our hourly rate is as follows:
Principles / Directors €250
Support staff €100
We will notify you in advance and agree the scale of fees to be charged.
Mortgages
We may receive up to 1% (or whatever maximum is applicable) of the loan for
arranging mortgage finance. This commission is paid by the mortgage lender. The
actual amount of commission will be disclosed at a later stage in the ESIS (European
Standardised Information Sheet) which will be forwarded to you. Information on the
variation in levels of commission payable by the different creditors providing credit
agreements being offered are available on request.
Please note that lenders may charge specific fees in certain circumstances and if this
applies, these fees will be specified in your Loan Offer. You have the right to pay a fee
separately and not include it in the loan. Typically, this situation arises in relation to
specialist lending.
If we provide mortgage advice and obtain a Loan Offer for you and you subsequently do
not proceed with your mortgage application through our firm, our Fee set out above will
apply.

Ongoing suitability assessments form part of the service to clients. On an annual basis
the firm will issue a client report outlining changes in the services or instruments
involved and/or the circumstances of the client.
INSURANCE BASED INVESTMENT PRODUCTS
We will provide periodic assessments of the suitability of the insurance based
investment product which we have recommended to you.

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.

Following the introduction of the Consumer Insurance Contracts Act 2019 which was
implemented to protect consumers, there is important information that you should be
aware of and we are bringing to your attention for policies of Insurance effective after
1st September 2020. There are obligations on you as the consumer and duties that you
must fulfil at the various stages of the process of arranging and renewing your
Insurance policy.
You are required to answer all questions posed by us or the insurer honestly and with
reasonable care.
Failure to answer all questions honestly and with reasonable care can result in the
Insurer being able to rely on proportionate remedies for misrepresentation, which
include but are not limited to the insurer voiding the contract of insurance. If a policy is cancelled by an insurer for any reason including payment default you may encounter
difficulty in purchasing insurance in the future.
Completed proposal or application forms
Completed proposal or application forms will be provided to you. These are important
documents as they form the basis of insurance contract between the insurer and you the
consumer. You should review and confirm that the answers contained within are true
and accurate.
You are under a duty to pay your premium within a reasonable time, or otherwise in
accordance with the terms of the contract of insurance.
A court of competent jurisdiction can reduce the pay-out to you if you are in breach of
your duties under the Act, in proportion to the breach involved.
Cancellation of a Contract of Insurance
1. If you have taken out a life insurance contract, you may cancel the contract by
giving notice in writing to us within 30 days after the date you were informed the
contract is on cover.
The giving of notice of cancellation by you will have the effect of releasing you from any
further obligation arising from the contract of insurance. The insurer cannot impose any
costs on you other than the cost of the premium for the period of cover.
This right to cancel does not apply where, in respect of life insurance the contract is for
a duration of six months or less.
An insurer may refuse a claim made by you under a contract of insurance where there is
a change in the risk insured, including as described in an “alteration of risk” clause, and
the circumstances have so changed that it has effectively changed the risk to one which
the insurer has not agreed to cover.
Any clause in a contract of insurance that refers to a “material change” will be
interpreted as being a change that takes the risk outside what was in the reasonable
contemplation of the both you and the insurer when the contract was concluded.
You must cooperate with the insurer in an investigation of insured events including
responding to reasonable requests for information in an honest and reasonably careful
manner and must notify the insurer of the occurrence of an insured event in a
reasonable time.
You must notify the insurer of a claim within a reasonable time, or otherwise in
accordance with the terms of the contract of insurance.
If you become aware after a claim is made of information that would either support or
prejudice the claim, you are under a duty to disclose it. (The insurer is under the same
duty).
If you make a false or misleading claim in any material respect (and know it to be false
or misleading or consciously disregards whether it is) the insurer is entitled to refuse to
pay and to terminate the contract.
Where an insurer becomes aware that a consumer has made a fraudulent claim, they
may notify the consumer advising that they are voiding the contract of insurance, and it
will be treated as being terminated from the date of the submission of the fraudulent
claim. The insurer may refuse all liability in respect of any claim made after the date of
the fraudulent act, and the insurer is under no obligation to return any of the premiums
paid under the contract.
If you are ever in doubt about whether or not something needs to be disclosed, the
safest course of action is to disclose it. Please contact the office if you wish to obtain
clarification.

If the only remuneration received by us is commission from a financial institution or
insurance company, we reserve the right to “pass on” to the client any clawback charge
incurred by us, if the business is subsequently cancelled or transferred to a different
provider within a 3 year period.

It is the policy of Mason Wealth Management to avoid conflict of interest when
providing services to clients. Where an unavoidable conflict arises, 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 has arisen.

Any complaint that you may have in relation to the business services provided should
be made in writing to the Managing Director outlining the nature of your
complaint. Any such complaint will be acknowledged within 5 days. We will provide
you with the name of the individual who will act as your point of contact in relation to
the complaint until the complaint is resolved. The complaint will be fully investigated
by Mason Wealth Management and a full response will be provided to you. If after 40
days you remain dissatisfied with our firm’s handling and response to your complaint
you are entitled to refer your complaint to the Financial Services & Pensions
Ombudsman, Lincoln House, Lincoln Place, Dublin 2. A copy of our complaints
procedure is available on request

A consumer (as defined by SI No 853 of 2004) has the right to withdraw from an
insurance policy (as defined under SI No 853 of 2004) within 14 days of the start date of
the policy (except in the case of travel policies whose operative period is for one month
or less) without penalty and without giving any reason. This is known as the cooling off
period. In the case of Life and Pension Products that cooling off period is extended to 30
days. The right of withdrawal may be exercised by notice in writing to Mason Wealth,
quoting your policy number provided that no claim or adjustment has been made or is
intended to be made or no incident has occurred which is likely to give rise to a claim or
for travel policies. Should this right be exercised, your insurer may charge for the period
you are on cover. Please note that the policy set up charge is non-refundable if you
choose to withdraw from the policy within the cooling off period.

Mason Wealth Management is a member of the Investor Compensation Scheme
established under the Investor Compensation Act 1998. The 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 also be
aware that a right to compensation would only arise where money or investment
instruments held by this Company 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 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. For further information, contact the Investor Compensation Company Ltd at (01) 224 4955.

As a member of Brokers Ireland, Mason Wealth Management are also members of the
Brokers Ireland Compensation Fund. Subject to the rules of the Scheme, the liabilities of
its member 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. Mason Wealth Management also holds
professional indemnity insurance in accordance with the Central Bank of Ireland’s
requirements.

Payments must represent premiums in respect of either a renewal of a policy, which has
been invited by an insurance undertaking or a proposal accepted by an insurance
undertaking. Mason Wealth Management is not authorised to accept cash or negotiable
instruments in any other circumstances.

Mason Wealth Management will, if necessary, exercise its legal rights to receive any
payments due to it from clients for business services provided by it and, to be
reimbursed for any value obtained by the firm for clients arising from payments by the
firm on behalf of clients who subsequently default in any payment due to the firm.
Product producers may withdraw benefits or cover on default of any payments due
under any products arranged for your benefit. Details of these provisions will be
included in your product terms and conditions.
Your individual policy document will contain details of default remedies and actions of
the particular insurance undertaking in the event of your non-payment. On receiving
your policy document, you should read the terms and conditions of your policy in detail.

Mason Wealth Management will issue receipts for third party cheques received for life
assurance made payable to an insurance company, pursuant to Section 30 of the
Investment Intermediaries Act 1995. Same should be retained in a safe place.

Mason Financial Services Ltd complies with the requirements of the General Data
Protection Regulation 2018 and the Irish Data Protection Act 2018.

Mason Wealth Management 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 which you provide to us will be held on a computer database and paper files
for the purpose of arranging transactions on your behalf and in order to provide the
highest standard of service to you. 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 (on our website) and Data Protection policy. We may need to collect sensitive personal
information relating to you or anyone to be named on your policy or residing in your
household to process your application. It is your responsibility to ensure that you have
obtained the permission of that person to allow us to process their sensitive personal
data as part of your application and to explain our Data Protection policy to them. We
may share with insurance service providers’ information we hold about you and your
claims history. Our product producers may subscribe to insurances industry databases
for fraud prevention purposes. We may also use your information for the purpose of
complying with regulatory or legislative requirements, offering renewals, for
research/statistical analysis and crime prevention. There may also be requirements to
contact you by Email, Post, Phone, SMS Text for the purposes of discussing terms of an
existing policy with us or any other query directly relating to an existing policy with us.
When you request a quote from us, you may receive a phone call or text message and/or
email in relation to that quote.
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 by addressing enquiries to the Compliance Officer / GDPR Owner
Mason Financial Services Ltd, 73 Leeson Street, Dublin 2. if you have any concerns about
your personal data.

Mason Wealth Management holds written letters of appointment to act as an
intermediary from a large number of providers, a copy of this list is available on request.

We will ensure that our Privacy Notice is easily accessible. Please refer to our website if
this medium is not suitable we will ensure you can easily receive a copy by hard copy
upon request.

Mason Wealth Management will issue receipts for each payment received pursuant to
Section 30 of the Investment Intermediaries Act 1995 and such receipts will be retained
in a safe place.

Terms of Business Acknowledgement Letter
Client Name: __________________________________
Mason Financial Services Limited trading as Mason Wealth Management, Mason
Financial Services and Mason Mortgage Brokers.
Status
Mason Financial Services Limited trading as Mason Wealth Management, Mason
Financial Services and Mason Mortgage Brokers. (‘the Company’) is regulated by the
Central Bank of Ireland.
Terms of Business
Attached are the Company’s Terms of Business, which outline the basis on which we
provide services to our clients. Please ensure that you read this document carefully.
These Terms of Business apply to all business transactions undertaken for you or
services provided to you and will remain in force until further notice. Should we make
any material changes to our Terms, we will advise you in advance of providing any
further services to you.
Customer Signature ……………………………………………………………………
Date……………………………………
Consent to Contact
Here at Mason Wealth Management we take your data protection seriously and will only
use your data as discussed with you in our privacy statement.
However, from time to time may wish to contact you in relation to [insert here why you
will be contacting your customers e.g. specify products]/
[offers]/[services]/[competitions] we provide.
Agreed methods of contact
☐ Email
☐Phone
☐ SMS
☐ Post
☐ Fax
☐ Please do not contact me
Customer Signature ……………………………………………………………………
Date………………………………….
* Even if you do subscribe now you can always unsubscribe at any time.
ToB Effective Date: V0.1 October 2021