Royal London Ireland enters Personal Retirement Savings Account market

ClubMan said:
You mean so that the only charge is RL's 0.4% on the relevant funds (and maybe subject to some minimum transfer or ongoing contribution amount)? And no other charge?
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Yes, from the document that lists all prsa products it's clear that RL have a product that only charges a 0.4 percent AMC.

I'm interested in trying to access that product.

ClubMan said:
How would the execution only broker make any money in that case? Unless you mean that they get some other "out of hand" commission from RL? I would expect an intermediary to add something on to the base AMC or charge a fixed fee up front in most or all cases.
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Either RL pay the broker or I pay the broker.

ClubMan said:
Seems like it's early days for intermediaries with RL business so maybe things will become clearer as they ramp up in 2025?
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Yes. I'm hoping others here are aware of deals from other brokers or have more insights on RL intermediary compensation model or on the 0.4% product.
 
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DualPublicPriva said:
Are there any brokers or financial advisers who offer the Royal London PRSA on an execution-only basis, and who charge an initial flat rate set-up fee only? I would prefer this to an ongoing annual broker charge of circa 0.25%, which adds up to tens of thousands over time.
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The only execution-only RL offer I'm aware of is at @GSheehy site: https://www.execution-only.ie/ which offers 0.6% AMC.

I think that's the current market leading offer rate for a PRSA to access passive tracking funds.
 
I'm wondering if any new offerings on this, is it available with AMC lower than 0.6% from a broker on execution only basis? It's to be in conjunction with Public sector employment and able to make either annual lump sum or regular monthly contributions.
 
Cheapest I’ve been quoted is 0.6% execution only. I have it through execution only.ie. My wife got set up through Liam Ferguson who allowed the 0.6% for relatively low monthly contributions.
 
is that blackrock developed world equity the only passive equity fund available through execution only? also am i right in saying this tries to be a close to the MSCI all world etf? and that it's euro hedged?

@jjquinn what was the monthly contribution he offered for that product? i think i'm locked out of that rate due to contributions to the public scheme and would love more info
 
You have access to all Royal London Irelands funds - list on their website. I think the active ones are 0.05 or 0.10 more expensive.

I can’t remember what she’s paying per month but Liam Ferguson didn’t seem to have a minimum contribution to avail of the 0.6% amc (open to correction). Suggest you contact him.
 
jjquinn said:
You have access to all Royal London Irelands funds - list on t
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Not necessarily through all execution only brokers though?
daenaethra said:
is that blackrock developed world equity the only passive equity fund available through execution only?
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In particular www.execution-only.ie ?

Their website is not exactly clear - e.g. why does this explicitly list the BlackRock Developed World Equity Index Fund?

Products | Execution-Only.ie

www.execution-only.ie www.execution-only.ie
Funds Available

If your transfer is substantial and there are 5+ years to go to the selected retirement age we may be able to reduce the AMC even further. Use the Additional Information part of the contact form to submit your request.
  • Regular Contribution - Minimum €750 per month
  • Minimum Term to Normal Retirement Age is 5 Years
  • 100% Allocation
  • Blackrock Developed World Equity Index Fund (Article 6)
  • AMC is 0.60% on 8 Passive Index Funds (Multi-Asset Funds AMC is 0.65%)
  • Intermediary remuneration included in AMC pricing
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ClubMan said:
Not necessarily through all execution only brokers though?
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Wow! What's going on here? Obfuscation?

There's a link to the Funds Available on the website.

The number one reason why customers choose RL is access to the BlackRock Developed World Equity Index Fund. Perhaps if it wasn't listed in the short overview customers would ask why it isn't exactly clear if this partictular fund is available? It makes more sense to put it in the short overview confirming the details of the product as that's what customers want to buy. The next line in the overview states that that the AMC is 0.60% on 8 Passive Funds.

Number of times someone has asked me 'There are 9 Blackrock Funds. Which one isn't available at the AMC quoted?, is zero. But, I have had occasion when it was included on an application and this additional 0.05% would be highlighted to the customer when I vet the application in the interest of total transparency and disclosure.

But, in case you didn't know, the Blackrock Environmentally Aware Cash Fund is the outlier, as that requires 'manual' intervention.


Gerard

www.execution-only.ie
 
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GSheehy said:
Wow! What's going on here? Obfuscation?
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No. Just that the information on the www.execution-only.ie site seems confusing to me at least:
C

Post in thread 'Royal London Ireland enters Personal Retirement Savings Account market'

jjquinn said:
You have access to all Royal London Irelands funds - list on t
Click to expand...
Not necessarily through all execution only brokers though?
daenaethra said:
is that blackrock developed world equity the only passive equity fund available through execution only?
Click to expand...
In particular www.execution-only.ie ?

Their website is not exactly clear - e.g. why does this explicitly list the BlackRock Developed World Equity Index Fund?

Products | Execution-Only.ie

www.execution-only.ie www.execution-only.ie
Funds Available

If your transfer is substantial and there are 5+ years to go to the selected retirement age we may be...
Click to expand...
 
I don't understand why it explicitly mentions one BlackRock index fund in the bullet points and wondered if that's also why this poster seemed confused and asked this question:
daenaethra said:
is that blackrock developed world equity the only passive equity fund available through execution only?
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ClubMan said:
I don't understand why it explicitly mentions one BlackRock index fund in the bullet points and wondered if that's also why this poster seemed confused and asked this question:
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I explained why in my reply. So you're saying that you don't understand the reply either?
 
I find it confusing that a single index fund is listed explicitly. I suspect that @daenaethra did too but I'll let them clarify if necessary.
 
For me at least when I signed up through executiononly.ie I understood the call out of that particular fund as just flagging the one that most people end up choosing. Also that it is one of the eight passive funds benefiting from 0.6% AMC.

  • Blackrock Developed World Equity Index Fund (Article 6)
  • AMC is 0.60% on 8 Passive Index Funds (Multi-Asset Funds AMC is 0.65%)
 
thanks for the explanation all. i've only started a deep dive into products and finding it quite difficult. i can see why novice's just pay for advice

the only all world equivalent seems to be with Davy but the fees are high. the highlighted product on execution-only.ie seems to be one of the best options for a reasonably cheap pure equity "set it and forget it" type setups, especially if i can figure out % split between that and their emerging markets fund.
 
The split moves over time but from the link above it is approximately 90% Developed / 10% Emerging Markets.
 
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Corola said:
is developed and emerging market countries.
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thats interesting Russia, much of ME and Africa not even included in EM markets and some of them meeting in China thinking they are creating an alternative world order, not in the money markets they ain't
 
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