Terms of Business
Terms of Business for MMPI Financial Services Limited trading as MMPI
Effective from 23/03/2026
This document sets out the general terms under which MMPI Financial Services Limited trading as MMPI (“MMPI”, “the company”, ‘’the firm’’, “we”, “us”, “our”) will provide business services to consumers (“you”) and the respective duties and responsibilities of both the firm and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries, we will be happy to clarify them. If any material changes are made to these terms, we will notify you.
Authorisations with the Central Bank of Ireland
MMPI Financial Services Limited trading as MMPI (C124650) is regulated by the Central Bank of Ireland as an insurance intermediary registered under the European Union (Insurance Distribution) Regulations 2018 ; as an Investment Intermediary authorised under the Investment Intermediaries Act, 1995 and as a Mortgage Intermediary authorised under the Consumer Credit Act, 1995, and as a Mortgage Credit Intermediary under the European Union (Consumer Mortgage Credit Agreements) Regulations 2016. Copies of our regulatory authorisations are available on request.
The Central Bank of Ireland holds registers of regulated firms. You may contact the Central Bank of Ireland on +353 (0)1 224 6000 or alternatively visit their website at www.centralbank.ie to verify our credentials.
Codes of Conduct
MMPI Financial Services Limited is subject to the Consumer Protection Code, Minimum Competency Code and Fitness and 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 advice and arrange transactions on behalf of clients in relation to life, pensions, investments and mortgages products.
Fair and Personal Analysis
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, general insurance, 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 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:
- the needs of the customer,
- the size of the customer order,
- the number of providers in the market that deal with brokers,
- the market share of each of those providers,
- the number of relevant products available from each provider,
- the availability of information about the products,
- the quality of the product and service provided by the provider,
- cost, and
- any other relevant consideration.
Investment Intermediary Services
We are renumerated by commission for our investment intermediary services.
Insurance based Investment Products
We are remunerated by commission for the advice we provide on our insurance-based investment products.
Life & Pensions/Deposits & Life Wrapped Investments
We provide life assurance, pensions and 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 provide deposits on a limited analysis basis i.e. providing services on the basis of a limited number of contracts and product producers available on the market, that is to say, while not tied to one product producer the services are not provided on the basis of a fair analysis of the market. We provide advice on the following product providers:
- Permanent TSB plc
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 Permanent Health Insurance (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.
Investment (Article 3)
We provide investment advice 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.
Mortgages
Through the lenders or other undertakings with which we hold an agency, MMPI Financial Services Limited 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 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).
We will need to collect sufficient information from you before we can offer any advice on housing loans. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such information should be produced promptly upon our request.
Sustainability Factors – Investment/IBIPs/Pension Advice
In accordance with the Sustainable Finance Disclosure Regulation (‘SFDR’), we inform you that when providing advice on insurance-based investment products/Investments, we do not assess, in addition to relevant financial risks, relevant sustainability risks as far as this information is available in relation the products proposed/advised on. This means that we do not assess environmental, social or governance events/conditions that, if they occur, could have a material negative impact on the value of the investment.
Sustainable Investing
We will gather your Sustainable Investing Preferences and include these preferences in our Statement of Suitability/recommendation for you. Ultimately, it is the Product Producers we have agencies with that produce the Investment Products we advise on, and it will be their documentation we are relying on when including Sustainable investments in your recommendation. All information re Sustainable Finance Disclosures will be adhered to by the Product Producers and their brochures and documents will outline their disclosures.
Considering Principal Adverse Impacts on sustainability factors in the advice
When providing advice on insurance-based investment products (‘IBIPs’) or investment advice we do not consider the impacts of our advice that result in negative effects on sustainability factors (namely environmental, social and employee matters, respect for human rights, anti-corruption and anti-bribery matters), because currently there is limited relevant products on the market which meet these criteria. The area of sustainable is relatively new and as the issue progresses, we will review our position.
The firm will review this approach on an annual basis in January.
Impact on Return
We have not assessed the likely impacts of sustainability risks on the returns of Investment/Pensions since we have not been able to identify any sustainability risks that are relevant.
Statement of Charges
We may earn our remuneration on the basis of fee, commission and any other type of remuneration, including a non-monetary benefit or on the basis of a combination of these methods. A non-monetary benefit will only be accepted if it enhances the quality of the service to our clients. A summary of the details of all arrangements for any fee, commission other reward or remuneration paid or provided to us which we have agreed with product providers is available in our office or on our website https://mmpi.ie/charges/.
For all types of insurances, we may charge you a fee for providing our services. The fee will be explicitly dependent on the circumstances of individual cases. For example, we may charge a fee of up to 20% of the total premium per policy for standard cases, in the normal course. Higher fees may be charged in exceptional circumstances depending on the complexity, urgency, and nature of the case. In all cases where a fee is charged the method of calculating the charge will be agreed with you in advance and the actual amount charged stated clearly on each individual invoice.
Our standard consultation fees are currently up to €500 (+VAT where applicable) per hour, reviewed annually.
Fees may be negotiated for on-going contracts.
We may offset fees against commission received by us from product and service providers. If we intend to do so we will advise you in advance. If we do and you subsequently cancel, encash in full or in part, or cease to pay in full or in part any amounts due under the policy/contract and in consequence we are obliged to refund the commission paid to us by a product or service provider, we reserve the right to charge you a fee to reimburse us for the amount of commission refunded.
Ongoing Remuneration
If we receive ongoing remuneration from Product Producers, this will be in respect of the financial service provided to you. This remuneration is based on a percentage of the value of your investment, annual premiums, etc. and is intended to cover the ongoing service that we provide to you in relation to this product.
The nature of the service for which this remuneration is payable includes regular reviews of your product, updates on performance, continued access to our advice, providing responses to any queries you may have on the contract you have taken out and it will also contribute to our costs arising in supporting you with claims including maturity claims.
Clawback
If we receive commission from a product provider [and off-set the commission against the fee which we would otherwise have charged you] but the commission is subsequently clawed-back by the provider because of early encashment by you or because of the transferring of the assets or business to another provider or in any circumstances consequent on your actions or omissions, we will charge a fee to you that is equal to 100% of the clawed-back commission. That fee will be owing in simple contract upon the claw-back of the commission.
Mortgages
We receive 1% 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.
Ongoing Suitability
Investments
Ongoing suitability 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.
Regular Reviews
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 and objectives. We would therefore advise that you contact us to ensure that you are provided with up-to-date advice and products best suited to your needs.
Consumers: Duty of Disclosure when completing documentation
You are required to answer all questions posed by us or the insurer honestly and with reasonable care – the test will be that of the ‘average consumer’1.
Before renewal of the contract of insurance, specific questions will be asked. Again, you will be required to answer honestly and with reasonable care. Where you do not provide additional information (after being requested to do so) it can be presumed that the information previously provided remains unchanged.
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.
1 Average consumer as per Directive No. 2005/29/EC of the European Parliament and of the Council of 11 May 2005 is reasonably well informed and reasonably observant and circumspect, taking into account social, cultural and linguistic factors.
Completed proposal forms/statement of fact
Completed proposal forms or Statement of Facts 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.
Duty of Disclosure for Mortgage Finance:
It is your responsibility to provide complete and accurate information to Financial Institutions for them to conduct a proper credit worthiness assessment when arranging Mortgage finance.
Commercial Customers: Non-Consumer Disclosure of Information
It is essential that you should bring to our attention any material alteration in risk such as changes of address or use of premises. 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 and the firm will take all steps within its control to appropriately manage the conflict and minimise the impact of the conflict on the consumer. Compliance Department is responsible for managing potential conflicts of interest. A full copy of our conflicts of interest policy is available on request.
Although we receive payment from the product Providers/Lenders for your business, we ensure the advice we recommend to you is in your best interest, plus it avoids you having to pay us a direct fee each year.
Default on payments by clients
If you default, owing monies to us, it is our policy to pursue matters directly with you in order to achieve a satisfactory resolution. In cases where this approach proves unsuccessful, it is our policy to pursue the outstanding amount through appropriate legal channels to receive payments due to us from clients (fees) for services provided.
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.
Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you do not maintain your agreed repayments.
Complaints
We have written procedures in place for the effective consideration and handling of complaints, and a copy of our Complaints Handling Procedure is available on the firm’s website https://mmpi.ie/complaints-handling/ or on request. Where we cannot resolve a complaint immediately it is our policy, where practicable, to meet with you to resolve matters.
Upon receipt of an oral complaint, we will provide the option to have the complaint addressed through the firms established complaints procedure. We will permit and facilitate submission of complaints in writing by post and by electronic means. Any complaint that you may have should be addressed to Financial Advisor or directly to the Compliance Team by calling on +353 1 435 2335 and request to be connected with the Compliance Department or sent either by post to MMPI Financial Services Limited, 101 Morehampton Road, Donnybrook Village, Dublin 4 or by email to compliance@mmpi.ie.
We will acknowledge your complaint in writing within 5 working days, and we will fully investigate it. All complaints will be fully investigated as swiftly as possible, and the complainant will receive an update on the complaint at intervals of not greater than 20 working days starting from the date on which the complaint is made. On completion of our investigation, we will provide you with a written report of the outcome.
In the event that you are dissatisfied with our handling of the complaint or our response to it, you are entitled to refer the matter to the Financial Services and Pensions Ombudsman (FSPO) as appropriate who may be contacted as follows:
Financial Services and Pensions Ombudsman (FSPO)
3rd Floor, Lincoln House, Lincoln Place, Dublin 2
Lo Call: 01 5677000
Email: info@fspo.ie
Data Protection
We fully respect your right to privacy, and any personal information relating to you will be treated in accordance with the Data Protection Act 2018 and the General Data Protection Regulations 2016 (GDPR). MMPI Financial Services Limited 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 accessible, please refer to our website https://mmpi.ie/privacy-notice/. If this medium is not suitable, we will ensure you can easily receive a copy by hard copy, or telephonic environment.
Please contact us at dataprotection@mmpi.ie if you have any concerns about your personal data.
New Business & Renewal
Right to Cancel
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, the duration of the contract is less than one month.
Your Duty to Pay Premiums
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.
Post-Contract Stage and Claims
Your Duty to Cooperate
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.
Notification of Claims
You must notify the insurer of a claim within a reasonable time, or otherwise in accordance with the terms of the contract of insurance.
Disclosure of Information After a Claim
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).
False or Misleading Claims
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.
Fraudulent Claims
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.
Affiliations
MMPI Financial Services Limited is a member of Brokers Ireland and of IMA (Irish Mortgage Advisors).
Compensation Scheme
We are a members of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd (“ICCL”). Please 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 Clients’ Compensation and Membership Benefits Scheme (BIC)
MMPI is also a member of the Brokers Ireland Clients’ Compensation and Membership Benefits Scheme (BIC). Subject to the rules of the scheme the liabilities of its member firms up to a maximum of €100,000 per client (€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.
In addition to the above-mentioned compensation, we also hold Professional Indemnity Insurance.
Client Monies & Receipts
We request all cheques, or negotiable instruments are made payable to the appropriate Product Provider. We will issue a receipt for each negotiable or non-negotiable instrument or payment received, in accordance with Section 30 of the Investment Intermediaries Act 1995 (as amended) and, where applicable, the European Union (Insurance Distribution) Regulations 2018. These receipts are issued with your protection in mind and should be stored safely. Every effort is made to ensure clients’ money is transmitted to the appropriate Product Provider without delay. We are not authorised to accept cash.
Anti – Money Laundering & Countering the Financing of Terrorism
Under the terms of the Criminal Justice (Money Laundering and Terrorism Financing) Act, 2010 (as amended) you will be required to provide us with specific information which we will request from you. If you do not provide the information we require, we will not be in a position to provide investment services to you.
This service and these terms will be governed by the laws of Ireland.
List of Product Producers with agency appointments held by MMPI Financial Services Limited
Protection, Pensions, Savings and Investments
- Aviva Life & Pensions Ireland DAC
- BCP Asset Management DAC
- Cantor Fitzgerald Ireland Ltd
- Conexim Advisors Ltd
- J&E Davy Unlimited Company
- Dolmen Insurance Brokers Ltd
- Independent Trustee Company Ltd
- Irish Life Assurance plc
- MMPI Limited
- New Ireland Assurance Company plc
- Newcourt Retirement Fund Managers Ltd
- permanent tsb plc
- Quilter Cheviot Europe Ltd
- Royal London Insurance DAC
- Standard Life International DAC
- Utmost PanEurope DAC
- Zurich Life Assurance plc
Mortgages
- Bankinter S.A. – Ireland Branch
- BAWAG P.S.K. Bank für Arbeit und Wirtschaft und Österreichische Postsparkasse Aktiengesellschaft trading as Moco
- DILOSK DESIGNATED ACTIVITY COMPANY
- Haven Mortgages Ltd
- Nua Money Ltd
- permanent tsb plc
- Seniors Money Mortgages (Ireland) Designated Activity Company
- The Governor and Company of the Bank of Ireland