Royal London Ireland enters Personal Retirement Savings Account market

[SPC100]

You mean so that the only charge is RL's 0.4% on the relevant funds (and maybe subject to some minimum transfer or ongoing contribution amount)? And no other charge?

Yes, from the document that lists all prsa products it's clear that RL have a product that only charges a 0.4 percent AMC.

I'm interested in trying to access that product.

How would the execution only broker make any money in that case? Unless you mean that they get some other "out of hand" commission from RL? I would expect an intermediary to add something on to the base AMC or charge a fixed fee up front in most or all cases.

Either RL pay the broker or I pay the broker.

Seems like it's early days for intermediaries with RL business so maybe things will become clearer as they ramp up in 2025?

Yes. I'm hoping others here are aware of deals from other brokers or have more insights on RL intermediary compensation model or on the 0.4% product.

 

[SPC100]

Are there any brokers or financial advisers who offer the Royal London PRSA on an execution-only basis, and who charge an initial flat rate set-up fee only? I would prefer this to an ongoing annual broker charge of circa 0.25%, which adds up to tens of thousands over time.

The only execution-only RL offer I'm aware of is at @GSheehy site: https://www.execution-only.ie/ which offers 0.6% AMC.

I think that's the current market leading offer rate for a PRSA to access passive tracking funds.