How we Charge:

Our Fee Structure

We can be remunerated by way of a Fixed Monetary Fee (one-off for a fixed project or an annual retainer), a Funds Under Management (FUM) %-based fee (for Pension or Investment Portfolios) or by way of Commission for a product from a third party provider with whom we facilitate Investment and Insurance based Investment transactions on your behalf.

In obtaining these fee payments we consider how the Product Producers and Insurers have integrated sustainability risks into their investment product offerings prior to making our recommendations to our clients.

How do we decide how to Charge?

The nature of the service being provided, the complexity of the solution we provide and the tax implications to you will all dictate the most appropriate way for us to be remunerated for our services.

As a client, will will have the option for our remuneration to be structured in a manner that is preferential to you.

Why not have one simple pricing structure ?

This would be administratively easier for us for sure!

However, the nature of our service is that we provide bespoke, tailored solutions to our clients, so it is not practical or feasible in our opinion to have a ‘one size fits all’ fee structure. Instead, we focus on:

  1. Providing clients with choice

  2. Always demonstrating full transparency, both at the outset and on an ongoing basis, as to what our remuneration is

What do we typically charge?

For our Funds Under Management Model, our percentage fee ranges from 0.50% p.a. to 0.75% p.a. Note that this is before any third party fees. For Portfolios larger than €5m, we may reduce this percentage. We may also charge an implementation fee for Pension or Investment portfolios, which will depend on the size of the Portfolio & the amount of work involved.

For Protection policies, our remuneration will generally be limited to the commission payable to us which is in-built to the premium the client pays

For time-based Consultancy Engagements, we bill on a half-daily rate (4 hours) and this will depend on the type of work being provided and whom within Compass Private Wealth.

We also offer a fixed annual financial ‘retainer’ for certain Families & Charities that we provide ongoing consultancy to. This fee will completely depend on the level and extent of the work provided. This can be quite popular as clients do not feel that they are ‘on the clock’ at all times.

Regulatory Disclosure on Fees & Charges:

From April 2020. as per Central Bank of Ireland regulations, the page below is dedicated to outlining all of the possible commission options available to Compass Capital Solutions Ltd.

We, Compass Capital Solutions Ltd. act as intermediary (Broker) between our consumers and the product provider with whom we place business.

The Background: Pursuant to provision 4.58A of the Central Bank of Ireland’s September 2019 Addendum to the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its Product Providers. 

What is Remuneration? Remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of remuneration is generally directly related to the value of the products sold.

What is Commission? Commission is payment that may be earned by an intermediary for work undertaken for both provider and consumer. There are different types of renumeration and commission models:

  • Single Commission model: Single Commission is where payment is made to the intermediary shortly after the sale is completed and is based on a percentage of the premium paid/amount invested.

  • Trail/Renewal commission model: Trail / Renewal are further payments at intervals are paid throughout the life span of the product.

  • Indemnity commission: Indemnity commission is the term used to describe a commission payment made before the commission is deemed to be ‘earned’. Indemnity commission may be subject to a clawback (see below) if the consumer lapses or cancels the product before the commission is deemed to be earned.

Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.

Life Assurance/Investments/Pension products: For Life Assurance products commission is divided into initial commission and renewal commission (related to premium), fund based or trail relating to accumulated fund.

Trail commission, bullet commission, fund based or renewal commission are all terms used for ongoing payments. Where an investment fund is being built up though an insurance-based investment product or a pension product, the increments may be based on a percentage of the value of the fund or the annual premium. For a single premium/lump sum product, the increment is generally based on the value of the fund.

Life Assurance products fall into either individual or group protection policies and Investment/Pension products would be either single or regular contribution policies.  Examples of products include Life Protection, Regular Premium Life Assurance Investments, Single Premium (lump sum) Insurance-based Investments, and Single Premium Pensions.

Investments: Investment firms, which fall within the scope of the European Communities (Markets in Financial Instruments) Regulations 2007 (the MiFID Regulations), offer both standard commission and commission models involving initial and trail commission. Increments may be based on a percentage of the investment management fees, or on the value of the fund.

Clawback: Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be ‘earned’ until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.

Fees: The firm may also be remunerated by fee by the product producer such as policy fee, admin fee, or in the case of investment firms, advisory fees.  Include arrangements etc

Other Fees, Administrative Costs/ Non-Monetary Benefits: The firm may also be in receipt of non-monetary benefits such as:

  • Attendance at product provider seminars

  • Assistance with Advertising/Branding

Sustainability Factors: We take due care so that our Internal remuneration policy with respect to Investment or Insurance advice on Insurance-based Investment Products (‘IBIPs’) promotes sound and effective risk management in relation to sustainability risks and does not encourage excessive risk-taking with respect to sustainability risks.

Click on a link below to access a list of the providers that our firm deals with, which for ease of reference is in alphabetical order.

Life Insurance Providers

Investment Article 3/MIFID Providers