Broker fees

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ccraig

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I invested in a commercial project through an Irish stockbroker before christmas. Their return was based on performance fees. They have recently requested payment of a management fee which wasnt mentioned before.

Just checking if anyone else had come across this as I dont plan on paying it seeing as its the first ive heard of it
 
Hi
It gives an IRR and says performance fee is x% of anything over y% but no mention of an upfront fee
 
Just in addition, i received a letter to explain that this is a recent management fee (6 months fee) . I spoke to someone else who did anothe rproject with them who has just paid it but I see no reason to seeing as it was never mentioned before. Any thoughts?
 
Sounds like a very odd way of setting out and dealing with charges. Is the firm regulated by IFSRA? Can you name the broker? Can you post specific (verbatim) details of the terms & conditions that deal with charges? If you object to the charges on the basis that they are not divulged in the contract terms & conditions then query them in writing with the company. If necessary make a complaint. If you get nowhere then get a final response letter from them once you have exhausted their complaints process and take the matter to the [broken link removed].
 
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