Wealth Ways Privacy Policy

 

Who We Are

Wealth Ways (‘we’ or ‘us’ or ‘our’) gather and process your personal information in accordance with this privacy notice and in compliance with the relevant data protection Regulation and laws. This notice provides you with the necessary information regarding your rights and our obligations, and explains how, why and when we process your personal data.

 

Wealth Ways’ registered office is at The Fairgreen, Westport, Co Mayo and we are a company registered in the Republic of Ireland under company number 669726. We act as the data controller when processing your data. Our designated Data Protection Officer/Appointed Person is Tom Cawley, who can be contacted at The Fairgreen, Westport, Co Mayo, telephone number 098 63621.

 

Information That We Collect

Wealth Ways processes your personal information to meet our legal, statutory, and contractual obligations and to provide you with the products and services. We will never collect any unnecessary personal data from you and do not process your information in any way, other than as specified in this notice.

 

The personal data that we collect from you and process, where relevant, is dependent on the type of product sought and may include such details as (this is not an exhaust list):

• Personal – such as full name , address, phone contact details, email addresses
• Date of Birth and/or age, gender, PPS number.
• Details of beneficiaries such as joint policy holders, beneficiaries to products or services.
• Your marital status, family members, lifestyle or social circumstances if relevant to the product or service e.g. the number of dependents you have or if you are widowed etc.
• Records of your contact with us e.g. getting in touch with us through our online ‘contact us’ services or phoning our office.
• Bank and/or payment card details.
• Information from other products or services held with our firm.
• Health history or vulnerable client details e.g. details of illnesses or injuries suffered by you or anyone insured on the policy either prior to taking up a policy or during the term of the policy.
• Financial details e.g. employment status, salary, source of income, source of wealth.
• Existing borrowings and loans details if relevant.
• Passport Number.
• Driver’s License Number.
• Tax information if relevant e.g. for tax/inheritance tax planning purposes.

 

We collect information in the below ways: –

Personal and financial fact finds. Application forms across all formats. Ad hoc questionnaires e.g. medical & financial questionnaires. Through follow up email or telephone. Preliminary enquiry forms. Through text messaging.

How We Use Your Personal Data (Legal Basis for Processing)

Wealth Ways takes your privacy very seriously and will never disclose, share or sell your data without your consent, unless required to do so by law. We only retain your data for as long as is necessary and for the purpose(s) specified in this notice. Where you have consented to us providing you with promotional offers and marketing, you are free to withdraw this consent at any time.  The purposes and reasons for processing your personal data are detailed below: –

 

• We collect your personal data in the performance of a contract or to provide a service and to ensure that orders are completed and can be sent out to your preferred address
• We will occasionally send you marketing information where we have assessed that it is beneficial to you as a customer and in your interests. Such information will be non-intrusive and is processed on the grounds of legitimate interests

 

Your Rights

You have the right to access any personal information that Wealth Ways processes about you and to request information about: –

• What personal data we hold about you
• The purposes of the processing
• The categories of personal data concerned
• The recipients to whom the personal data has/will be disclosed
• How long we intend to store your personal data for
• If we did not collect the data directly from you, information about the source

 

If you believe that we hold any incomplete or inaccurate data about you, you have the right to ask us to correct and/or complete the information and we will strive to do so as quickly as possible; unless there is a valid reason for not doing so, at which point you will be notified.

 

You also have the right to request erasure of your personal data or to restrict processing (where applicable) in accordance with the data protection laws; as well as to object out to any direct marketing from us. Where applicable, you have the right to data portability of your information and the right to be informed about any automated decision-making where should it be used.

If we receive a request from you to exercise any of the above rights, we will ask you to verify your identity before acting on the request; this is to ensure that your data is protected and kept secure.

 

Sharing and Disclosing Your Personal Information

We do not share or disclose any of your personal information without your consent, other than for the purposes specified in this notice or where there is a legal requirement.

Please see the Central Bank register for a full list of agencies held through Wealth Ways that we share your personal data with to avail of the best contract available to you at the time.

 

Wealth Ways uses Money Advice and ClearChoice to provide the below services and business functions; however, all processors acting on our behalf only process your data in accordance with instructions from us and comply fully with this privacy notice, the data protection laws and any other appropriate confidentiality and security measures.

 

Money Advice

Money Advice is a software platform for Financial and/or Mortgage Brokers, Wealth Managers and Financial Planners. Managed and developed by experienced financial services professionals the software is the product of more than 20 years’ experience building software for the broker industry in Ireland. The application is designed to manage the end to end office requirements of financial brokerage firms including marketing, sales, advice including full needs analysis, cash flow projections, compliance, product libraries, and pipeline and commissions management. Full Client Relationship Management is also included. Clients and policy details are updated and maintained from the following insurers; Aviva, BCP Asset Management, Friends First, Irish Life, New Ireland, Royal London, Standard Life. Life Protection quotes are also provided from all insurers. Money Advice systems are linked to MoneyMate’s new platform Fund Focus providing fund information and performance data on more than 850 investment funds with supporting fact sheets where available. Customers of Money Advice systems, can upload client model portfolios directly into Fund Focus where users can analyse the portfolio’s overall risk and performance.                                                                                                    For more information about Money Advice, please visit www.moneyadvice.ie

ClearChoice

ClearChoice is a comparison tool & quote engine. They are used to compare price and different policy types. The only information they are provided with are the name, date of birth & smoker status.

For more information about ClearChoice, please visit www.clearchoice.ie

 

Safeguarding Measures

Wealth Ways takes your privacy seriously and takes appropriate measures and precaution to protect and secure your personal data. We work hard to protect you and your information from unauthorised access, alteration, disclosure or destruction and have several layers of security measures in place, including:

 

We use including but not limited to–

• Industry standard encryptions,
• Restricted access so only authorised personnel can access the information,
• IT authentication
• Industry Standard firewalls
• Industry standard anti-virus/malware

 

Consequences of Not Providing Your Data

You are not obligated to provide your personal information to Wealth Ways. However, as this information is required for us to provide you with our services, deliver your products and legitimate interests, we will not be able to offer some/all our services without it.

 

How Long We Keep Your Data

Wealth Ways only ever retains personal information for as long as is necessary and we have strict review and retention policies in place to meet these obligations. We are required under the Irish CPC to keep your basic personal data (name, address, contact details) for a minimum of 6 years after which time will be destroyed unless there is a legitimate or legal reason for keeping the data.

 

Where you have consented to us using your details for direct marketing, we will keep such data until you notify us otherwise and/or withdraw your consent.

 

Special Categories Data

Owing to the products & services that we offer, Wealth Ways may need to process sensitive personal information (known as special category data) about you, and/or collect personal medical information and/or historical and personal financial information to process applications with companies whom we hold agencies with on your behalf. Where we collect such information, we will only request and process the minimum necessary for the specified purpose and identify a compliant legal basis for doing so.

 

Where we rely on your consent for processing special category data, we will obtain your explicit consent through a signature. You can modify or withdraw consent at any time, which we will act on appropriately and complete the task within a calendar month, unless there is a legitimate reason for not doing so.