MyLife Financial Planning Ireland Ltd t/a WealthPlan 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 within the GDPR (General Data Protection Regulations) in relation to not only processing your data but ensuring you understand your rights as a client.
It is the intention of this privacy statement to explain to you the information practices of MyLife Financial Planning Ireland Ltd t/a WealthPlan in relation to the information we collect about you.
For the purposes of the GDPR the data controller is:
- MyLife Financial Planning Ireland Ltd. t/a WealthPlan.
- Contact details: 51 Beaubec, Dublin Road, Drogheda, Co. Louth ; Tel:0872408568; Email: firstname.lastname@example.org
Please read this Statement carefully as this sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us.
We are MyLife Financial Planning Ireland Ltd. t/a WealthPlan, a private limited company incorporated in Ireland and registered under company number 622940
We are authorised and regulated by the Central Bank of Ireland. We provide advice and arrange transactions on behalf of clients in relation to life protection, savings and investments products with insurers and product producers with which we hold an agency appointment.
Our GDPR Owner can be contacted directly here:
- Bryan Harvey, MyLife Financial Planning Ireland Ltd. t/a WealthPlan, 51 Beaubec, Dublin Road, Drogheda, Co.Louth; Tel:0872408568; Email: email@example.com
In order for us to provide you with advice and to offer, recommend, arrange or provide life protection, savings and investments and pensions we need to collect personal data.
We may use, process and store your personal data for one or more of the following purposes:
- To provide quotations for financial services
- To establish affordability and risk evaluation
- To assess your needs and product suitability
- To communicate with you as part of our business relationship
- To 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 policies
- We may check the data you have provided to verify your identity and carry out any checks we are required to undertake
- To comply with regulatory or legal requirements
- To offer you further services
Our reason (lawful reason) for processing your data under the GDPR is:
- Contractual basis – We need to process your data to provide you with services including in relation to establishing a contract of insurance or agreement for investment to which you will enter into or because you have asked for something to be done so that you can enter into such a contract.
- Consent – where we wish to offer services to you unrelated to a contract or proposed contract we will obtain your consent to contact first
In any event, we are committed to ensuring that the information we collect and use is appropriate for these purpose, and does not constitute an invasion of your privacy.
We will process (collect, store and use) the information you provide in a manner compatible with the EU’s GDPR. This primarily means that we will only use it for the lawful basis’ outlined above. We will endeavour to keep your information accurate and up to date, and not keep it for longer than is necessary.
If we collect any special categories of personal data (e.g. health, religious beliefs, racial, ethnic origin — financial information is not classified as special categories of personal data) — we will ensure the below
- we will obtain your explicit consent
Where relevant we may share your personal information with:
- insurers, product producers/investment firms, your employer (for group schemes), pension scheme trustee and/or registered administrators
We may also pass your personal data on to third-party service providers, contracted to MyLife Financial Planning Ireland Ltd t/a WealthPlan in the course of dealing with you. Any third parties that we may share your data with are obliged to keep your details securely, and to use them only to fulfil the service they provide on your behalf. When they no longer need your data to fulfil this service, they will dispose of the details in line with GDPR requirements. If we wish to pass your sensitive personal data onto a third party we will only do so once we have obtained your explicit consent, unless we are legally required to do otherwise.
Other third parties that we pass or may pass your personal data to are:
- IT Providers
- Legal Advisors
- Regulators and enforcement bodies such as the Central Bank of Ireland, Financial Services and Pensions Ombudsman, Revenue Commissioners, Gardai, Data Protection Commission, Department of Social Protection, etc. and only if we are required to do so to comply with a relevant legal or regulatory obligation.
If we transfer personal data to a third party or outside the EU, we as the data controller, will ensure the recipient (processor or another controller) has provided the appropriate safeguards and on condition that enforceable data subject rights and effective legal remedies for you the data subject are available.
MyLife Financial Planning Ireland Ltd. t/a WealthPlan facilitate you, our clients and your rights in line with our data protection policy. This is available on request.
At any point while we are in possession of or processing your personal data, you, the data subject, have the following rights:
- Right of access — you have the right to request a copy of the personal information that we hold about you.
- Right of rectification — you have a right to correct data that we hold about you that is inaccurate or incomplete.
- Right to be forgotten — in certain circumstances the data subject can ask for the data held to be erased.
- Right to restriction of processing — where certain conditions apply to have a right to restrict the processing.
- Right of portability — in certain curcumstances you have the right to have the data we hold about you transferred to another organisation.
- Right to object — you have the right to object to certain types of processing such as direct marketing.
- Right to object to automated processing, including profiling — you also have the right not to be subject to the legal effects of automated processing or profiling.
- Reasons where requests are denied: in the event that MyLife Financial Planning Ireland Ltd. t/a WealthPlan refuses your request under rights of access, we will provide you with a reason as to why.
We will keep personal information for as long as is reasonably required for the purpose(s) for which it was collected. We may keep certain transactional records – which may include personal information – for more extended periods, if we need to do this to meet legal or regulatory obligations. For instance, under the Consumer Protection Code, we are required to retain an accurate record of dealings with clients for at least six years after your last interaction with us. We will also retain files if we reasonably believe there is a prospect of litigation.Where your personal information is no longer required we will ensure it is securely deleted.
In the event that you wish to make a complaint about how your personal data is being processed by MyLife Financial Planning Ireland Ltd t/a WealthPlan or how your complaint has been handled, you have the right to lodge a complaint directly with the supervisory authority and MyLife Financial Planning Ireland Ltd. t/a WealthPlan data protection representative / GDPR Owner.
You may also contact the Data Protection Commission in Ireland to lodge a complaint (details below): Data Protection Commission, Canal House, Station Road, Portarlington, Co. Laois R32 AP23. Phone: +353 57 868 4800/ +353 761 104 800. www.dataprotection.ie Email: firstname.lastname@example.org
If we are collecting your data for an insurance/investment contract and you cannot provide this data the consequences of this could mean the contract cannot be completed or details are incorrect.
Profiling means any kind of automated processing which uses personal data to analyse or predict certain characteristics or preferences of an individual(s). Automated decision-making and Profiling are techniques often used in the financial services sector to both streamline processes and to measure risks or identify opportunities.
We, being a financial advisor/ intermediary, use profiling in our business in the following circumstances:
- a) Risk profiling.
- b) Establishing affordability and providing quotations for financial services
Risk Profiling is used to establish a customer’s attitude to investment risk (relates to pensions and investments); Advisors use automated calculators which calculate the customers attitude to various levels of risk having answered a series of questions.
We may also use personal information to calculate customer’s level of affordability using an automated system or to provide a quote for insurance to calculate how much the cover will cost (i.e. to calculate a premium).
If we intend to further process your personal data for a purpose other than for which the data was collected, we will provide this information prior to processing this data.