Fair point. I should have made it clear that I'm happy to pay 'normal' commission rates for buy and sell transactions, which I think are always a percentage. What bugs me is having to pay an arm and a leg for basic bookkeeping: accounting for transactions, transferring a regular 'pension' to my personal bank account and remitting the PAYE deductions (as my 'employer') to the Revenue Commissioners. Have you any names forThere's two jobs in your query,
smaller self-administered ARF firms
“I want to squat on someone’s regulated platform but I don’t want to pay for the privilege”
What?
It seems more like
"I don't want a chauffeur driven Rolls Royce. I want to drive myself around in an Opel Corsa."
Brendan
Suppose I have a €2 million ARF, do you think it's worth €10,000 a year (actually €12,300 including VAT) for a payroll service (probably outsourced) and a bit of straightforward bookkeeping? I don't understand what you mean by "squatting on a regulated platform".Personally, I’d be happy enough to pay up to 0.5% per annum for QFM plus investment services.
Suppose I have a €2 million ARF, do you think it's worth €10,000 a year (actually €12,300 including VAT) for a payroll service (probably outsourced) and a bit of straightforward bookkeeping? I don't understand what you mean by "squatting on a regulated platform".
My bank is far more heavily regulated than either of those and far more transactions go through my bank account each year than would ever to through my ARF. If banks tried to charge anything close to that for their services, there would be a revolution - quite rightly.Being a Qualifying Fund Manager (QFM) for ARFs and being an investment manager/stockbroker are heavily regulated activities. And heavy regulation means heavy costs.
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