Remuneration and Fees

Gramayre Ltd T/A Gallivan Financial are remunerated by commission and other payments from product producers or lenders on the completion of business. You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of the remuneration for initial advice provided. We reserve the right to charge additional fees if the number of hours relating to ongoing advice/assistance exceeds 2 hrs.

In certain circumstances, it will be necessary to charge a fee for services provided. These are listed below for life, non-life business and Standard PRSA’s. In other circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we will notify you in writing in advance and agree on the scale of fees to be charged if different from fees outlined below.

If we receive a commission from a product provider, this will be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission will become the amount payable to the firm unless an arrangement to the contrary is made.

Life Fees

You may elect to deal with us on a fee basis.

Principles / Directors €100 per hour

Senior Advisers €75 per hour

Associates €50 per hour

Support staff €30 per hour

Personal Retirement Savings Accounts (PRSAs) – Fees

Where advice is requested for PRSAs, the following hourly fees will apply:

Advisor fees: €75 per hour.

Support staff: €30 per hour.

Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency.

We will give an estimate of this rate in advance of providing you with services. If we receive a commission from a product provider, this will be offset against the fee which we will charge you. Where the commission is greater than the fee due, the commission will become the amount payable to the intermediary unless an arrangement to the contrary is made.

Mortgages

We may receive up to 1% (or whatever maximum is applicable) of the loan for arranging mortgage finance. This commission is paid by the mortgage lender.

In the event of our firm producing a loan offer that is not drawn down, we charge the client €250.00 to cover our overheads i.e. telephone calls, time, paper etc. If a mortgage is redeemed within a 3-year period, a fee will apply. This will cost €500.00 in year one and will reduce in years two and three accordingly. This fee is to cover expenses and loss of commission. If however, you come back to us for further mortgage business this fee will of course be refunded. After year three there will be no fee if the mortgage is redeemed.

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