Schofield Financial and Accounting Services Ltd. 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.
It is the intention of this privacy statement to explain to you the practices of Schofield Financial and Accounting Services Ltd. in relation to the information we collect about you.
For the purposes of the GDPR the data controller is:
- Orla Schofield
- Contact details 0862409912 or firstname.lastname@example.org
- When we refer to ‘we’ it is ‘Schofield Financial and Accounting Services Ltd.’
Please read this statement carefully as it sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us.
Who we are:
Schofield Financial and Accounting Services Ltd. is regulated by the Central bank of Ireland as an insurance, investment and mortgage intermediary and acts as a financial brokerage of Life, Pensions, Investments and Mortgages. We have agencies with most of the Life & Pension companies regulated by the central bank of Ireland have agencies with many MiFID firms for alternative investment and pension purposes. Orla Schofield is our qualified financial advisor. Schofield Financial and Accounting services Ltd., through Noel Schofield, also operates Accountancy and Audit services. We are a registered audit firm under Certified Public Accountants Ireland. The GDPR responsibilities of the audit and accountancy aspects of our relationship with clients will be incorporated into our ‘Letter of Engagement’ prior to delivery of such services.
Purpose for processing your data
We require your data to complete our factfind which enables us to compile a financial plan for our clients in the short, medium and long term. Personal and financial details are needed to assess your current and future situation in order for us to give a comprehensive recommendation of products and/or services to meet your financial goals.
Health data: Any application you place with us for protection business, i.e. Life and mortgage cover, illness cover, and income protection, will require personal data that may be considered sensitive data. Each company’s application has a set of questions in relation to your medical health that we will process for you. This data is for the purpose of the application only to the life company and is not used by Schofield Financial for any other purposes. Any subsequent medical data or information passed between you and the life company may be sent via Schofield Financial and Accounting Services Ltd. or may be passed directly to the Life Company. Any information you allow from your medical doctor to the life company is not passed on to Schofield Financial and Accounting Services Ltd.
Why we process your data? Our legal basis.
In order for us to provide you with financial advice and services we need to collect certain personal data, imposed under current legislative compliance. The data must be collected in order for an individual to enter into a contract of insurance or the individual has asked for something to be done so they can enter into a contract. The data requested will be dependent on the product provider’s requirement to their specific insurance, investment or pension product application form.
Specific data, such as anti-money laundering documentation is required before you can place any business through our agency. Anti-money laundering data is your proof of address and proof of identity. Other data such as proof of PPS numbers may be required to proceed with a pension, for example, for onward transmission to the Life and Pension of MiFID company for revenue purposes.
How will Schofield Financial and Accounting Services use the personal data it collects from me?
We will process (collect, store and use) the information you provide in a manner compatible with the EU’s General Data Protection Regulation (GDPR). We will endeavour to keep your information accurate and up to date, and not keep it for longer than is necessary.
Special Categories of personal data
If we collect any special categories of personal data (e.g. health information) we will obtain your explicit consent.
Who are we sharing your data with?
We may pass your personal data on to third-party service providers with whom we hold agencies, only when you complete their application form and have signed and requested the contract. Any third parties that we may share your data with are obliged to keep your details securely, and to use them only to fulfill the service they provide on your behalf. You will be referred to that company’s data protection and privacy statement at that time.
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.
Schofield Financial and Accounting Services Ltd. may obtain or remove agencies further to our current list held on the Central Bank of Ireland’s website. If we recommend a product or service, we will not pass on any of your data without your explicit consent and with your acceptance of that company’s data protection regulation which also should be compliant with the requirements of the Data Protection Acts 1988 and 2003 and the General Data Protection Regulation 2018.
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.
Your Rights regarding Your Data:
Schofield Financial and Accounting Services Ltd. facilitate you, our clients, rights in line with our data protection policy and the subject access request procedure. This is available on request.
- Right of access – you have the right to request a copy of the 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 you can ask for the data we hold about you to be erased from our records.
- Right to restriction of processing – where certain conditions apply to have a right to restrict the processing.
- Right of portability – 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 to be subject to the legal effects of automated processing or profiling.
- Right to judicial review: in the event that Organisation Name refuses your request under rights of access, we will provide you with a reason as to why.
All of the above requests will be forwarded on should there be a third party involved as we have indicated in the processing of your personal data.
Additional information we wish to provide to ensure we are transparent and fair with our processing:
Retention of your personal data:
Data will not be held for longer than is necessary for the purpose(s) for which they were obtained. We will process personal data in accordance with our retention schedule. This retention schedule has been governed by our regulatory body, The Central Bank of Ireland, and our internal governance.
In the event that you wish to make a complaint about how your personal data is being processed by Schofield Financial and Accounting Services Ltd. please contact our Data protection officer and GDPR officer, Orla Schofield on email@example.com or by post in preference to telephone. If you make a complaint and have a further complaint about how it has been handled, you have the right to lodge a complaint directly with the Financial Services and Pensions Ombudsman, Lincoln House, Lincoln Place, Dublin 2.
Failure to provide necessary and correct information:
If we are collecting your data for a contract, and you cannot provide this data or provide data that is incorrect, the consequences of this could mean the contract may not be completed or may not uphold.
Profiling – automatic decision making
Financial and mortgage advisors using profiling in their business. The main categories are
- Risk profiling.
- Profiling for marketing purposes.
- Establishing affordability and providing quotations for financial services and mortgage product
(a) Risk Profiling
To establish a customer’s attitude to investment risk (relates to pensions and investments) advisors have automated calculators which calculate the customers attitude to various levels of risk having answered a series of questions.
(b) Profiling for marketing purposes.
When we seek to contact you about other services, as outlined above * we run automated queries on our computerised data base to establish the suitability of proposed products or services to your needs.
(c) Establishing affordability and providing quotations for financial services products.
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.
Your privacy is important to us. If you have any comments or questions regarding this statement, please contact us on 086 2409912 or firstname.lastname@example.org.