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INVESTMENTS

Welcome to Finlay-Mulligan Investments Services your trusted partner for pensions and investment solutions.

 

Navigating the world of pensions and investments can be complex, but it doesn't have to be. We specialise in providing tailored advice and solutions to help you secure a financially stable future. Whether you’re just starting out, planning for retirement, or looking to grow your wealth, our expert team is here to guide you every step of the way.

 

Explore our range of services and discover how we can help you achieve your financial goals with confidence and clarity.

Our Remuneration

We, Finlay-Mulligan & Co act as intermediary between you, the consumer, and the product provider with whom we place your business.

The background

Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.  

What is commission?

For the purpose of this document, remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer.   The amount of remuneration is generally directly related to the value of the products sold. 

Details of Commission Range

Our firm’s commission options are displayed as a range, showing the maximum amount which can be received. The level of commission depends on individual circumstances, based on the following factors:  

  • The firm’s discretion

  • Whether the level of commission is negotiable

  • Client relationship

  • Length / Term of the policy or contract

  • Size of the investment

  • Commercial decision

  • Complexity of the case

  • Product constraints / rules set by the product provider

There are different types of remuneration/commission models:

 

Single commission model: where payment is made to the intermediary shortly after the sale is completed and is based on a percentage of the premium paid/amount invested/amount borrowed.

 

Trail/Renewal commission model: Further payments at intervals are paid throughout the life span of the product.

 

Indemnity commission

Indemnity commission is the term used to describe a commission payment made before the commission is deemed to be ‘earned’. Indemnity commission may be subject to a clawback (see below) if the consumer lapses or cancels the product before the commission is deemed to be earned.

 

Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.

 

Sustainability Factors- Investments/IBIPs/Pension Advice

We take due care so that our internal remuneration policy with respect to investment or insurance advice on insurance-based investment products (‘IBIPs’) promotes sound and effective risk management in relation to sustainability risks and does not encourage excessive risk-taking with respect to sustainability risks.

 

When assessing products, we will consider the different approach taken by product providers in terms of them integrating sustainability risks into their product offering. This will form part of our analysis for choosing a product provider.

 

Life Assurance/Investments/Pension products

For Life Assurance products commission is divided into initial commission and renewal commission (related to premium), fund based or trail (relating to accumulated fund).

 

Trail commission, bullet commission, fund based, flat commission or renewal commission are all terms used for ongoing payments. Where an investment fund is being built up through an insurance-based investment product or a pension product, the increments may be based on a percentage of the value of the fund or the annual premium. For a single premium/lump sum product, the increment is generally based on the value of the fund.

 

Life Assurance products fall into either individual or group protection policies and Investment/Pension products would be either single or regular contribution policies. Examples of products include Life Protection, Regular Premium Life Assurance Investments, Single Premium (lump sum) Insurance-based Investments, and Single Premium Pensions.

 

Investments

Investment firms, which fall within the scope of the European Communities (Markets in Financial Instruments) Regulations 2007 (the MiFID Regulations), offer both standard commission and commission models involving initial and trail commission. Increments may be based on a percentage of the investment management fees, or on the value of the fund.

 

Clawback

Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.

 

Fees

The firm may also be remunerated by fee by the product producer such as policy fee, admin fee, or in the case of investment firms, advisory fees.

 

Preferred Provider Rate

We don't have a preferrred

 

Other Fees, Administrative Costs/ Non-Monetary Benefits

The firm may also be in receipt of other fees, administrative costs, or non-monetary benefits such as: We don't receive non monetary benefits from product producers

Maximum Commission Rates
Single Contribution Products
Initial Commission
Clawback Period
Trail Commission
Single Contribution Pension
Acorn Insurance
5
5
1
Aviva
5%
1% p.a.
Friends First
5%
0.75% p.a.
Irish Life
5%
0.75% p.a.
New Ireland
5%
5 Years
1% p.a.
Standard Life
5%
1% p.a.
Zurich Life
5.5%
0.5% p.a.
Single Contribution PRSA
Acorn Insurance
5
5
1
Aviva
4%
0.5% p.a.
Friends First
7.5%
0.25% p.a.
Irish Life
5%
0.75% p.a.
New Ireland
7%
5 Years
0.5% p.a.
Standard Life
5%
0.5% p.a.
Zurich Life
5.5%
0% p.a.
ARF
Acorn Insurance
5
5
1
Aviva
5%
1% p.a.
Friends First
5%
0.75% p.a.
Irish Life
5%
0.75% p.a.
New Ireland
5%
n/a
1% p.a.
Standard Life
4%
1% p.a.
Zurich Life
5%
0.5% p.a.
Annuity
Acorn Insurance
5
5
1
Aviva
3%
n/a
Friends First
3%
n/a
Irish Life
3%
n/a
New Ireland
3%
n/a
n/a
Zurich Life
3%
n/a
Investment Bond
Acorn Insurance
5
5
1
Aviva
5%
1% p.a.
BCP
2.1%
BlackBee Investments
3%
Broker Solutions
2.5%
Cantor Fitzgerald Ireland Ltd.
2.25%
Friends First
4%
0.75% p.a.
Investec Europe Limited
2.25%
Irish Life
3%
0.5% p.a.
New Ireland
4%
3 Years
1% p.a.
Standard Life
4%
1% p.a.
Zurich Life
5%
0.5% p.a.
Regular Contribution Products
Initial commission
Clawback Period
Renewal / Flat Commission
Trail commission
Regular Contribution Pension
Acorn Insurance
5
5
1
1
Aviva
15%
1% p.a.
Friends First
25%
0.75% p.a.
Irish Life
17.5%
5%
0.5% p.a.
New Ireland
25%
5 Years
8%
1% p.a.
Standard Life
25%
5%
1% p.a.
Zurich Life
20%
4 Years
3%
0.5% p.a.
Regular Contribution PRSA
Acorn Insurance
5
5
1
1
Aviva
22.5%
0.5% p.a.
Friends First
17.5%
0.25% p.a.
Irish Life
17.5%
5%
0.5% p.a.
New Ireland
25%
5 Years
6%
0.5% p.a.
Standard Life
5%
5%
0.5% p.a.
Zurich Life
5%
4 Years
5%
0% p.a.
Savings
Acorn Insurance
5
5
1
1
Aviva
15%
1% p.a.
Friends First
10%
0.75% p.a.
Irish Life
5.5%
5.5%
0.5% p.a.
New Ireland
10%
5 Years
2.5%
0.5% p.a.
Standard Life
15%
5 Years
n/a
1% p.a.
Zurich Life
10%
4 Years
1%
0.5% p.a.
Individual Protection
Yr1
Yr2
Yr3
Yr4
Yr5
Yr6
Yr7
Yr8
Yr9+
Clawback Period
Aviva
200 %
30%
30%
30%
30%
30%
30%
30%
30%
2 Years
Irish Life
120 %
28%
30%
28%
28%
30%
28%
28%
28%
New Ireland
225 %
50%
20%
20%
20%
12.5 %
12.5 %
12.5 %
12.5 %
5 Years
Royal London
225 %
0%
0%
0%
0%
3%
3%
3%
3%
5 Years
Zurich Life
100 %
12%
12%
12%
12%
12%
12%
12%
12%
1 Year
Group Protection
Death in Service
Clawback Period
Permanent Health Insurance
Clawback Period
Acorn Insurance
5
5
5
5
Aviva
6%
12.5%
Irish Life
6% p.a.
12.5% p.a.
New Ireland
15%
1 Year
20%
1 Year
Zurich Life
6%
n/a
12.5%
n/a
Mortgages
Commission
Clawback Period
Finance Ireland
1%
3 Years
Haven
1%
3 Years
ICS
1%
3 Years
KBC Bank
1%
3 Years
PTSB
1%
3 Years

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