Royal London Ireland enters Personal Retirement Savings Account market

ClubMan said:

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?

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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.

ClubMan said:

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.

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Either RL pay the broker or I pay the broker.

ClubMan said:

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

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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.

DualPublicPriva said:

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.

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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.