LA Brokers Nil Commission Deals on Single premium Investments
LABrokers lump sum execution only investments from Ireland's leading insurance providers.
What is "execution only"?
We do not provide advice as to the suitability of a particular product for your own circumstances. You have previously researched and know exactly what you want: the product, the company you wish to use, which options to include or exclude and all other variables. We do not handle client funds. What we do is place the business on your instructions. The contract is between you and your chosen provider.
Our Execution Only service is perfectly suited to educated investors who are able to conduct thorough research at the time of making the investment and more importantly on an ongoing basis.
What value does the LABrokers service offer?
We charge you a one off fee instead of commission. This philosophy works to your immediate advantage now and in the years to come.
Normal commission on investment products consists of two elements. The first is called initial commission. Initial commission is paid in the first year -usually at the rate of 3 to 5% of the investment amount. The second element is called renewal commission and this is usually paid every year from the first anniversary of the policy at the rate of 0.5% of the fund value pa.
However, with an LA Brokers 'execution only' policy no initial and no renewal commission is paid. Because of this more of your money is available for investment.
In general our service will result in an enhancement in the region of 3 to 5% of the amount invested in the form of an increased allocation of units, an increased allocation rate, or a reduced annual management charge, which will be clearly stated on your policy document.
Who is this service not suitable for?
Should you feel in any way unsure about exactly what you require, then this service is not suitable for you. In this case we recommend that you seek financial advice to establish your needs, expectations and in the recommendation of a suitable product.
Which companies do LABrokers place business with?
Presently we offer this service for lump sum investments with Caledonian Life, Eagle Star, Friends First, Irish Life, Hibernian Life & Pensions, New Ireland and Standard Life.
How much do LABrokers charge for this service?
After your policy has been arranged Commission-Free and sent to you by the insurance company, we will invoice you for our one-off flat of €50 per policy irrespective of the amount you invested.
If you request us to obtain nil commission information for you then we will charge €25 per request to cover our time. (this amount is fully refundable should you decide to place the business through us).
How to apply?
You will need to (registered) post your application to LABrokers at LABrokers, Newcastle, Greystones, Co Wicklow with the following:
- Your fully completed proposal form.
- Your investment cheque must be made payable to the insurance provider. LABrokers do not handle client funds.
- A letter signed by applicant(s) covering the following four points requesting LABrokers to place the business on (a) nil commission and confirming that you have (b) received no financial advice from us, that (c) you want us to act on an execution only basis and (d) that you understand investments can fall as well as rise.
- A recent utility bill and photo ID for each applicant.
Any applications which are received incomplete or with any of the above missing will not be processed and will be returned to you.
If you need any assistance with the application process please contact LABrokers, Newcastle, Greystones, Co Wicklow on 01 2810577 (Mon to Fri 9am to 5pm) and we'll be glad to help in any way we can.
Once we receive your application, we acknowledge receipt to you, and send your file to the insurance providers for processing. Once your policy has issued, our one off fee of €50 is then due and you can pay by either cheque, draft, Visa, Mastercard or Laser.
Execution only is where you have obtained your own information elsewhere. However, if you would like us to obtain specific information for you (such as a proposal form, a brochure, a quotation) then please use the application form (link below) to contact us. We reserve the right to charge you a €25 fee for this service which covers our time. Should you decide to proceed with the investment then this amount comes off our one-off fee of €50. We do not handle client funds and the investment is between you and the insurance provider. We are just facilitating setting up the plan on nil commission. Please note LABrokers does not offer investment advice.