Kathleen Power t/a KP Financial Services 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 information practices of KP Financial Services in relation to the information we collect about you.
For the purposes of the GDPR the data controller is:
- Kathleen Power
- KP Financial Services, 51 New Street, Carrick on Suir, Co. Tipperary
- Throughout this document, ‘we’, ‘us’, ‘our’ and ‘ours’ refers to KP Financial Services.
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.
Who are we?
- KP Financial Services is a Financial Broker providing impartial professional financial services to clients on complex financial planning strategies and products.
- We are qualified financial advisers and are regulated by the Central Bank of Ireland
- We advise on Retirement Planning, Savings, Investments, Personal Protection, Business Protection and Inheritance Planning.
Our Data Protection Officer / GDPR Owner and data protection representative can be contacted directly here:
- Kathleen Power, KP Financial Services, 51 New Street, Carrick on Suir, Co. Tipperary
How we use your information and the legal basis
We use, and share, your data where:
- You have agreed or explicitly consented to the using of your data in a specific way (You may withdraw your consent at any time);
- Use is necessary to process your data as this is necessary in relation to a contract of insurance to which the individual has entered into or because the individual has asked for something to be done so they can enter into a contract.
- Use is necessary because we have to comply with a legal obligation (e.g. complying with our “know your client” obligations and reporting to regulatory authorities and law enforcement);
- Use is necessary to protect your “vital interests” in exceptional circumstances;
- Use for our legitimate interests (which you may object to) such as managing our business including providing service information and conducting marketing activities.
In any event, KP Financial Services are committed to ensuring that the information we collect and use is appropriate for this purpose, and does not constitute an invasion of your privacy.
How will KP Financial Services use the personal data it collects about me?
KP Financial Services 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, religious beliefs, racial, ethnic origin – financial information is not classified as special categories of personal data) – we will ensure 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 contracted to KP Financial Services 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 Data Protection Regulation (GDPR) procedures.
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.
The third parties that we pass your personal data to are:
- Life companies & agencies with whom we hold agency agreements;
- (Full list available on www.kpfinancial.ie)
- Your authorised representatives;
- Service providers who provide us with support services;
- Statutory and regulatory bodies (including central and local government) and law enforcement authorities;
- Pension fund administrators, trustees of collective investment undertakings and pensions;
- Healthcare professionals and medical consultants;
We have issued all our third party processors with a Data Processor checklist asking them GDPR specific questions
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.
Data Subjects Rights:
KP Financial Services facilitate you, our clients, rights in line with our data protection policy and the subject access request procedure. This is available on request.
Your rights as a data subject
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 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 are providing you with 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. KP Financial Services will process personal data in accordance with our retention schedule, legislation and regulatory rules we must follow. This retention schedule has been governed by our regulatory body (Central Bank of Ireland) as well as our internal governance and the type of financial product provided to you.
In the event that you wish to make a complaint about how your personal data is being processed by KP Financial Services or how your complaint has been handled, you have the right to lodge a complaint directly with the supervisory authority and Organisation Name’s data protection representatives Data Protection Officer / GDPR Owner
Implications of not providing your data
If you do not provide information we may not be able to:
- Provide requested products and services to you;
- To continue to provide and/or renew existing products or services
- Assess suitability; and
- Where relevant, give you a recommendation for a financial product or service provided by us.
- We will tell you when we ask for information which is not a contractual requirement or is not needed to comply with our legal obligations and regulations.
Failure to provide further information
If we are collecting your data for a financial contract and you cannot provide this data the consequences of this could mean the contract cannot be completed or details are incorrect.
- 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.
- Profiling for marketing purposes.
- When we seek to contact you about other services, as outlined above * we run automated queries on our computerised database to establish the suitability of proposed products or services to your needs.
- Establishing affordability and providing quotations for financial services products.
- To make assessments where you are applying for a financial product or service, we conduct a full financial fact find in order to ascertain suitability, affordability and financial needs.
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 Kathleen Power on 051-642306 or email firstname.lastname@example.org