PRSA setup with no trailing fee/ commission?

[doranalex1]

Hi All, I want to set up a private PRSA, using a financial broker, for a one-time upfront commission. Is this commonly available?
I want to avoid an ongoing Trailing Fee or Trailing Commission as I don't intend making changes once it is in place.

Alternatively, are there pension funds/ index funds that I can access directly and avoid using an intermediate broker altogether?
(i.e. a Vanguard fund/ S&P 500/ Standard Life index etc.)

Thanks for any advice.

 

[Protocol]

AFAIK, all pension firms pay the brokers something out of the AMC.

Simply look for the best combination of allocation and AMC.

There are loads of threads on AAM about these issues.

 

[Protocol]

Read this:

Probably the best (cheapest) PRSA in the world?

The launch of Royal London Ireland's new pension product in late November 2024 seems to have finally offered customers accessible, lost-cost PRSAs. Through an execution-only broker, it is relatively easy to access a passive fund AMC of 0.55% or significantly lower on larger transfers. Taking...

www.askaboutmoney.com

Maybe post there instead?

 

[doranalex1]

Thanks, Protocol

 

[GSheehy]

I want to set up a private PRSA

What type of PRSA? With what provider? What level of contribution? In what funds and do you know if those funds are availble on the exact PRSA product from on the provider that you've chosen?

using a financial broker

You want the broker to select/recommend the type of PRSA and provider/funds?

for a one-time upfront commission

What do you consider to be a fair fee for the transaction you want to do?

I want to avoid an ongoing Trailing Fee or Trailing Commission as I don't intend making changes once it is in place.

You want the broker to resign from the transaction after it's set up and you expect who to service the contract for it's duration? A regulated entity has to be attached to the plan. Someone has to take ownership/responsibility for it.

Alternatively, are there pension funds/ index funds that I can access directly and avoid using an intermediate broker altogether?

Yes, you can deal directly with a product provider like Irish Life, Zurich Life or Davy's. Will they do it for a fee? No.


If you want to avoid all the fees (bar a base AMC) you could get a QFA qualification, set up a business, get regulatory approval from the Central Bank, apply for an agency with the product provider you want to set up the PRSA with and then submit the application.