- 15% of gross commission/procuration fees received, inclusive of PI insurance.
- For those advisers that produced less than £2,250 of gross paid commission in the proceeding 3 month period, the charge for the next 3 months would be 30% (this does not apply to the first 6 months of joining us). The 15% rate will reduce to 10% on the excess above £40,000 net commission per adviser each year (re-set on 1st April each year). £2,250 is only £750 gross per month or £9,000 per year.
- Adviser will have to pay the FCA, FSCS and FOS individual annual fee (£250 approx in 2013).
- Plus all services outlined in the Services section are included within our standard percentage.
Independent Financial Adviser
- 19% based on the first £25,000 net initial commission /fees due to the Adviser and 12.5% on the excess.
- The rate and threshold are reset to 19% and £25,000 respectively on 31 March each year.
- Inclusive of PI insurance. Plus all services outlined in the Services section.
- Adviser will have to pay the FCA, FSCS and FOS individual annual fee (£1,600 approx pa).
- £95 monthly levy/administration fee - taken from the 1st of each month.
Please note that we apply penalties for the late submission of client files. The current rate of penalties are £20 if a complete case is uploaded onto our system more than 21 days after the application date and £40 if it is uploaded onto our system more than 60 days after the application date.
We cap the amount that we will allow an adviser/AR to take on an indemnity commission basis to £2,500 gross per plan. The balance is paid at the end of the indemnity period. For Protection only advisers, we limit indemnity commission to £350 gross per plan. We may increase this cap once we see good persistency.
Refer an IFA/Mortgage Adviser to join our network and receive £250 introducer fee upon joining (paid when when we receive the first commission for the referred adviser).
Click here for more information on joining our network
Before our Advisers conduct business, they will issue clients with an Initial Disclosure Document reiterating our status within the industry and confirming any charges that may apply. Any fees charged will reflect the amount of work involved in arranging financial services, mortgages and/or protection, and a fee agreement will be signed prior to any chargeable work becoming liable for payment.