What is a Fee?
- A fee is a payment for professional services and expertise.
- A fee can be paid by our client directly for the professional services we provide.
- Our Professional Fee rate is €300.00 per hour or part thereof and may be subject to VAT.
- The total amount of any fee will be discussed and agreed, with our client, in advance of all transactions.
- Our Clients have the option to pay for the professional services we provide by way of a combination of commission and fees which we will discuss and agree in advance of all transactions
Other types of payment/remuneration
- We may earn a non-monetary benefit which we will only accept if it enhances the quality of our service to you our client. For example: attendance at a product seminar or assistance with branding, IT support etc.
- Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.
How might the various forms of Commission apply to the different products?
Life Assurance Company: Life Assurance, Investments and Pension Products
- For Life Assurance products commission is divided into initial commission and renewal commission (related to premium), fund based or trail (relating to accumulated fund).
- Trail commission, bullet commission, fund based, flat commission or renewal commission are all terms used for ongoing payments. Where an investment fund is being built up though an insurance-based investment product or a pension product, the increments may be based on a percentage of the value of the fund or the annual premium. For a single premium/lump sum product, the increment is generally based on the value of the fund.
- Life Assurance products fall into either individual or group protection policies and Investment/Pension products would be either single or regular contribution policies. Examples of products include Life Protection, Regular Premium Life Assurance Investments, Single Premium (lump sum) Insurance-based Investments, and Single Premium Pensions.
Please click on a link below to access a list of the Insurers that our firm holds an Agency Appointment with and the commission options available to our firm.
Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.