AVC - cheapest with advice?

C

chases0102

Registered User
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19
Hi folks,

Looking to see if anyone has any recommendations for an AVC Broker that offers reasonable/affordable charges that is not execution only.

Cornmarket don't appeal to me.

I've been onto another company who have offered a Zurich AVC Rebate, but the appeal of the Rebate is essentially a gamble that I can maintain the premiums - nice bit of commission for them!

So any recommendations would be greatly appreciated - I know LA Brokers offers a very affordable execution-only service, but realistically I will need some assistance/advice.

Thanks folks
 
chases0102 said:
Hi folks,

Looking to see if anyone has any recommendations for an AVC Broker that offers reasonable/affordable charges that is not execution only.

Cornmarket don't appeal to me.

I've been onto another company who have offered a Zurich AVC Rebate, but the appeal of the Rebate is essentially a gamble that I can maintain the premiums - nice bit of commission for them!

So any recommendations would be greatly appreciated - I know LA Brokers offers a very affordable execution-only service, but realistically I will need some assistance/advice.

Thanks folks
Click to expand...
did you get any advice with this?
 
Looking at this too - my employer only offers AVCs through cornmarket, can I use a different execution only provider myself and just claim back the tax relief at the end of the year myself? Cornmarket charge a 500 euro consultation fee, and then 0% on regular premiums, and 1% AMC for a number of their funds.
 
messyleo said:
Looking at this too - my employer only offers AVCs through cornmarket, can I use a different execution only provider myself and just claim back the tax relief at the end of the year myself? Cornmarket charge a 500 euro consultation fee, and then 0% on regular premiums, and 1% AMC for a number of their funds.
Click to expand...

Yes, you can. And you can get the PRSA-AVC contributions coded into your tax credits via MyAccount on the Revenue website. So you don't have to wait to claim back the tax at the end of the year. The only difference is that you will pay by direct debit rather than salary deduction. You will need documentation from your provider to support your claim.
 
@messyleo

It's just a small thing and may be relevant to what you're buying, and in the interest of having all the information at your disposal. If that's an AVC as opposed to a PRSA-AVC it's likely that if you wanted to add a lump-sum payment that there would be a contribution charge of circa 3% for those. My undertstanding is that the 0% only applies to regular contributions only.

AVCs don't come under the commission disclosure regime, AVC-PRSAs do.
AVCs may have higher third party costs (on the funds) than AVC-PRSAs.
AVCs may have some carrot of a reduction in AMC down the road if XYZ happens. It's unlikely that an execution-only AVC-PRSA might have this.


Gerard

www.prsa.ie
 
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