Commision to broker for Davy .75% PRSA?

[SPC100]

You can go direct to Davy and sign up for a.75% AMC PRSA.

If you go through a broker, can you get still get .75% AMC product ? and if so, how much (if any) commission would the broker get from Davy?

 

[Marc]

They get a payment upfront of I think 1.5% and then an annual trail commission as well

my colleagues know the exact details.

I’ll update on Monday

 

[kevhenry]

Davy price PRSA’s at 0.75% AMC if you go directly or 1% AMC if you go via an intermediary/broker. Executive pensions, retirement bonds and ARF’s are all 0.9% regardless of whether you go direct or through a broker. Davy keep the full 0.75%, 0.9% or 1% AMC for the first 24 months. From month 25 onwards the commission is split with the broker getting 0.5% and Davy keeping the balance.

Kevin
www.thepensionstore.ie

 

[Gordon Gekko]

Davy price PRSA’s at 0.75% AMC if you go directly or 1% AMC if you go via an intermediary/broker. Executive pensions, retirement bonds and ARF’s are all 0.9% regardless of whether you go direct or through a broker. Davy keep the full 0.75%, 0.9% or 1% AMC for the first 24 months. From month 25 onwards the commission is split with the broker getting 0.5% and Davy keeping the balance.

Kevin
www.thepensionstore.ie

Hi Kevin,

Is that the same for Personal money?

i.e. the same as the ARF pricing?

What about VAT?

Gordon

 

[kevhenry]

Hi Gordon,

The Davy select trading plus account has a 0.9% AMC which follows the same model as the pension contracts as far as I know.

The charges on other personal accounts are listed on pages 98 - 103 on this pricing document. I've never opened one of these personal accounts for a client before so I'm not 100% sure. In any case, I don't know anyone who uses Davy for these purposes with what DeGiro and others offer.

Kevin
www.thepensionstore.ie

 

[Steven Barrett]

Hi Kevin,

Is that the same for Personal money?

i.e. the same as the ARF pricing?

What about VAT?

Gordon

VAT is a peculiar one. Commission isn't liable to VAT. But an argument is made that the ongoing fee should be subject to VAT as the work being done for it is VATable work. An insurance company won't add VAT to their ongoing fees if the revenue said that this fee is subject to VAT. Quilter are the only ones I know who charge VAT on the management of money and will pay advisor ongoing fee plus VAT.

ARF's are not viable to VAT though.


Steven
www.bluewaterfp.ie