• Skip to content
  • Skip to primary sidebar
  • Skip to footer

Jigsaw Financial Solutions Ltd.

Financial Solutions

  • About Us
  • Services
  • Featured Businesses
  • Our Remuneration
  • Blog
  • Testimonials
  • Contact Us

Our Remuneration

We, Jigsaw Financial Solutions Ltd act as intermediary (Broker) between you, the consumer, and the product provider with whom we place your 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 producers.

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 remuneration and different commission models:

Single commission model: 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/amount borrowed.

Trail/Renewal commission model:  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.

General Insurance Products

General insurance products, such as motor, home, travel, health, retail or liability insurance, are typically subject to a single or standard commission model, based on the amount of premium charged for the insurance product.

Profit Share Arrangements

In some cases, the intermediary may be a party to a profit-share arrangement with a product provider and will earn additional commission.  Any business arranged with these product providers on a client’s behalf will be placed with the product provider because that product provider is at the time of placement, the most suitable to meet the client’s requirements, taking all the client’s relevant information, demands and needs into account.

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, flat commission 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.

Credit Products/Mortgages

Commission may be earned by intermediaries for arranging credit for consumers, such as mortgages. The single, or standard, commission model is the most common commission model applied to the sale of mortgage products by mortgage credit intermediaries (Mortgage Broker).

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.

Jigsaw Financial Solutions Ltd Fee Information

MORTGAGES

Jigsaw Financial Solutions Ltd is a leading mortgage intermediary. We will advise you on the best options to suit your needs and we will work with you through the entire mortgage process.  We will source you the most suitable and competitive mortgage with the bank(s) with whom we hold mortgage agencies.

Your mortgage is the biggest financial decision you will make during your lifetime and therefore it is essential that you choose the right professional adviser to guide you through this process.

Mortgage processing fees ranging from €350 – €500 are charged on all applications.

This is to cover small percentage of the time administrating the application. Fees will vary depending on the mortgage requirements, complexity, and specialist skills.

FINANCIAL SERVICES

We will review your current financial position, listen to what you want to achieve and provide you with expert, impartial advice tailored to your individual needs and circumstances.

Full Financial Review fees starting from €350. This includes recommendations for product placement with no obligation to proceed with any of the products recommended.

All the fees will be provided and discussed in advance of proceeding with the services.

Other Fees, Administrative Costs/ Non-Monetary Benefits

The firm may also be in receipt of other fees, administrative costs, or non-monetary benefits such as:

  • Attendance at product provider seminars
  • Assistance with Advertising/Branding

Click on a link below to access a list of the providers that our firm deals with.

Life Insurance Providers:

  • Irish Life
  • Royal London Income Protection
  • Royal London Life cover and Specified Illness Cover
  • Aviva
  • Zurich Life
  • Standard Life Synergy Products
  • Standard Life Top Up only Product Range
  • New Ireland

Lender Providers:

  • Bank of Ireland
  • Haven
  • Permanent Tsb
  • KBC Bank
  • ICS Mortgages
  • Finance Ireland

Investment Providers:

  • BCP
  • BlackBee

Primary Sidebar

Search

Facebook

Jigsaw Financial Solutions Ltd

Footer

Site Links

  • About Us
  • Services
  • Featured Businesses
  • Our Remuneration
  • Blog
  • Testimonials
  • Contact Us

GET IN TOUCH WITH US TODAY

   01 2839360
   lorraine@jigsawfinancialsolutions.ie
  • Privacy Policy
  • Cookies Disclaimer
  • Sitemap
Made by Friday.

Jigsaw Financial Solutions is Regulated by the Central Bank of Ireland. Registered Office: 1A The Cranford Centre, Montrose, Dublin 4. Registered in Ireland. Company Reg. 502527

Cookies & Privacy
We use cookies on our website to give you the most relevant experience. By clicking “Accept” you consent to the use of all cookies.
Visit Cookie settings to control consent.
REJECTACCEPT
Cookie Settings

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non Necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

Analytics

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

Advertisement

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

Performance

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

Save & Accept