Advocate Financial Services – Scale of Fees

Effective as of 21st August 2018

Registered Business Address: 44 College Square, College Road, Kilkenny. Email: info@advocatefinancial.ie

Web: www.advocatefinancial.ie Ph: +353 56 775 6425

Micheál Kelly and Dermot Hoare trading as Advocate Financial Services and www.incomeprotection-ireland.ie are regulated by the Central Bank of Ireland.

Scale of Fees

Advocate Financial Services is remunerated by commission and other payments from product producers on the completion of business. You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of the remuneration for initial advice provided. We reserve the right to charge additional fees if the number of hours relating to on-going advice/assistance exceeds 4 hours.

In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below for life, non-life business and Standard PRSAs. In other circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we will notify you in writing in advance and agree the scale of fees to be charged if different from fees outlined below.

If we receive commission from a product provider, this may be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission may become the amount payable to the firm unless an arrangement to the contrary is made.

Life, Pensions & Life Wrapped Investment Fees

You may elect to deal with us on a fee basis and the minimum rates applicable are outlined below:
Principal @ €250 per hour Support staff @ €50 per hour

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We also reserve the right to charge a Fund Based Renewal Commission (FBRC) of up to 1.0% of Funds Under Management (FUM) where we will be providing ongoing service, advice and valuations as required.

Personal Retirement Savings Accounts (PRSAs) – Fees

Where advice is requested for PRSAs, the following hourly fees will apply:
Principal @ €250 per hour Support staff @ €50 per hour

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We will give an estimate of this rate in advance of providing you with services. If we receive commission from a product provider, this will be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission may become the amount payable to the intermediary unless an arrangement to the contrary is made.

Non-Life Remuneration

Advocate Financial Services are remunerated by commission from insurers on completion of business. Details of this remuneration are available on request. Where an override commission is received, this will be disclosed to you in general terms. Other fees that may apply are as outlined below:

Brokerage fee: Up to €75 Cancellation or Mid Term Alteration fee: Up to €40

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