Introduction
Coughlan Wealth Management 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 information practices of Coughlan Wealth Management Ltd. in relation to the information we collect about you.
For the purposes of the GDPR the data controller is:
- Coughlan Wealth Management Ltd.
- Drishane House, Old Callan Road, Kilkenny, Ireland
- When we refer to ‘we’ it is Coughlan Wealth Management Ltd.
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?
Coughlan Wealth Management is a financial advisory firm based in Kilkenny, serving the southeast of Ireland and beyond. We provide expert advice on a wide range of financial matters, including pensions, investments and life assurance. Locally owned and managed, we work hard to earn the trust of our clients, many of whom have been with us for several years and recommend us to others.
Our Data Protection Officer / GDPR Owner and data protection representatives can be contacted directly here:
- Coughlan Wealth
- info@coughlanwealth.ie
- 056 7765100
Purpose for processing your data
Your Personal Data will be used to enable us to fulfil our contractual obligations in relation to your financial requirements and the provision of any ancillary risk management services. Our processing of your Personal Data will include:
- assessing your circumstances and financial needs;
- presenting such details to insurers / product providers for the purpose of obtaining quotations
- processing claims;
- undertaking checks to guard against fraud, money laundering, bribery and other illegal activities;
- handling complaints; and
- analysing data, identifying trends, and developing and improving our services to you,
- To ensure that our processing of your data is lawful, such processing will only be undertaken if:
- it is necessary for the performance of a contract to which you are, or will be, a party; or
- you have given your consent; or
- you confirm that any personal information you give to us about another person is given with their informed consent
- processing is necessary for compliance with a legal obligation to which we are subject; or
- processing is necessary to protect your vital interests; or
- to perform a task carried out in the public interest or in the exercise of official authority vested in us; or
- processing is necessary for the purposes of the legitimate interests pursued by us or by a third party, except where such interests are overridden by your fundamental rights and freedoms which require protection of Personal Data, in particular where the Data Subject is a child.
Where Personal Data about you is obtained from publicly available sources, we will only use such data fairly, meaning for legitimate purposes as would be anticipated of (and reasonably expected as) the activities of an insurance broker, or employee benefits consultant as appropriate, and not further processed in a manner that is incompatible with those purposes.
Why we are processing your data? Our legal basis.
In order to provide you with our services (pensions, investment and life assurance), it is necessary for us to collect and process your personal data. We are required, therefore, to inform you of the legal bases for processing your personal data. One such legal basis is that the processing is necessary for the performance of the advisory services contract (and any other contract) that we commit to delivering to you from time to time. Another legal basis is that some processing is necessary for the purposes of the legitimate interest that we have, as a firm that is authorised and regulated by the Central Bank of Ireland, in the proper administration and correct operation of our firm. There may also be circumstances where the legal basis for processing your personal data is consent (where we have sought it and it has been provided to us), in which case that consent may be withdrawn at any time.
In any event, Coughlan Wealth Management Ltd. 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 Coughlan Wealth Management Ltd. use the personal data it collects about me?
Coughlan Wealth Management Ltd. 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 the below
- we will obtain your explicit consent
Who are we sharing your data with?
You need to provide information on recipients or categories of recipients of the personal data – if any
Any information regarding the intention to disclose personal data to third parties and whether it is transferred outside the EU. In such circumstances, Organisation Name will provide information on the safeguards in place and how the data subject can also obtain a copy of these safeguards;
If Organisation Name is based outside of the EU and the data subject resides within it (the EU), the Organisation Name provides the data subject with contact details of a data protection representative in the EU;
Any information on website technologies used to collect personal data about the data subject;
Any other information required to demonstrate that the processing is fair and transparent.
We may pass your personal data on to third-party service providers contracted to Coughlan Wealth Management Ltd. 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 fulfill 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 Coughlan Wealth Management Ltd. 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.
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:
Coughlan Wealth Management Ltd. 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
- 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. Coughlan Wealth Management Ltd. will process personal data in accordance with our retention schedule. This retention schedule has been governed by our regulatory body (xxx) and our internal governance.
Complaints
In the event that you wish to make a complaint about how your personal data is being processed by Coughlan Wealth Management Ltd. or how your complaint has been handled, you have the right to lodge a complaint with the Organisation Name’s data protection representatives Data Protection Officer / GDPR Owner.
Fax: + 353 57 868 4757
Failure to provide further information
If we are collecting your data for a contract x and you cannot provide this data the consequences of this could mean the contract cannot be completed or details are incorrect.
Profiling – automatic decision making
If you carry out automatic decision making you need to inform the data subject -you need to explain the significance and the envisaged consequences involved. You also need to inform that data subject can object to this.
e.g. ISME ratings, recruitment psychoanalytic, insurance underwriting
An example:
Profiling – automatic decision making
Profiling;
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.
- 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.
- Establishing affordability and providing quotations for financial services products.
Contact Us
Your privacy is important to us. If you have any comments or questions regarding this statement, please contact us on 056 776 5100 or email info@coughlanwealth.ie
Privacy policy statement changes
Coughlan Wealth Management Ltd. may change this privacy policy from time to time. When such a change is made, we will post a revised version online. Changes will be effective from the point at which they are posted. It is your responsibility to review this privacy policy periodically so you’re aware of any changes. By using our services you agree to this privacy policy.