Cornmarket AVC comission rates

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Hi. Does anyone have any info on cornmarket avc's commission rates . They are looking for 3.75 % plus 1% for nurse avc. Seems high to me and I'm not sure what the 1% is for? How does it compare with other companies avc rates? Thanks for any info.
 
The 1% pays the insurance company for their compliance cost, light & heat, staff costs, profit etc.

If you put in €500 a month, you are being charged €225. A lot of work goes into advising and implementing a pension for a client, a lot of it unseen by the client. It would take me 5/6 hours to advise a client on risk strategy and goals, do compliance paperwork and implement a policy.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
They are 2 different charges.

The 3.75% comes off your premium contribution. This pays Cornmarket's commission fee. The 1% comes from the value of your fund and goes to the insurance company. The 1% was set by the government when they created PRSA's

The alternative is to offer Cornmarket a fee for the work and have no 3.75% premium charge and just have a 1% annual management charge.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
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