Financial Planning Services
|Core Service||Base Cost Plan €1,500 plus VAT||Additional Fee||Service Selected to determine fee estimate|
|Financial Personality Assessment and Report||Complimentary||N/A||✓|
|Online Fact Find||Complimentary||N/A||✓|
|AML Identity verification||Complimentary||N/A||✓|
|Lifetime Cash-Flow Analysis: to define and help to meet your primary objectives. Co-ordination of your total net worth to your objectives including savings, investments and your current defined contribution schemes.||Complimentary||N/A||✓|
|Family Risk Audit: Comprehensive family protection analysis including review of your existing Life Assurance and income replacement policies and review of your employment contract.||Complimentary||N/A||✓|
|Retirement Planning Strategies: Review of your current retirement provision for adequacy and tax efficiency including review of your current occupational pension scheme and recommendations for AVCs / added years||N/A||€200 per scheme|
|Debt analysis||N/A||€200 per loan|
|Planning for school fees||N/A||€200 per child|
|State Pension: Benefits analysis and recommendations for strategies to potentially improve State Pension Benefits||N/A||€200 per client|
|Review of deferred Irish Defined Contribution Schemes: Consideration of adding to current scheme, remaining as a deferred member or transferring to a Buy-Out Bond or PRSA. Note additional fees are payable for international pension transfers and advice in respect of incorporation of a sole trader and or establishing an Executive Pension.||N/A||€500 per scheme|
|Helping relatives into property: Helping children and/or grandchildren to get a foot on the property ladder||N/A||€200 per purchase|
|Gifting: Gifting money through the generations to provide rewards now and reduce inheritance tax.||N/A||€200 per client|
|Income Planning: Designing an income strategy in retirement using guaranteed income, annuities, ARFS and other strategies||N/A||€1,000 plus VAT|
|Tax Planning: Arranging your savings and investments in a tax efficient manner.||N/A||€1,000 plus VAT|
|Investment Portfolio Asset Allocation Strategies||N/A||€1,000 plus VAT|
|Review of deferred Irish Defined Benefit Schemes||N/A||€1,000 + additional fee to Actuary|
|Review of deferred UK Defined Benefit Schemes||N/A||€1,000 + additional fee to a UK pension specialist|
|Irish Estate Plan: including Family Partnerships/Irish Wills/Enduring Power of Attorney and Living Wills/Advance Healthcare Directives||N/A||€1,000 plus VAT|
|Resident Non-Domiciled Planning Strategies||N/A||€1,000 plus VAT|
|US Citizens and US planning issues||N/A||€500 plus VAT|
|International Pension Transfers||N/A||€1,000 plus VAT|
|Corporate Restructuring: Coordinating with tax consultants, lawyers and accountants as necessary to restructure your business for tax efficiency, succession, retirement and other planning relating to business as district from personal assets||N/A||€1.000 plus VAT|
|Charitable Gifting and Philanthropy: Turning your success into significance through the use of planned giving, donor advised funds or charitable foundations||N/A||€1,000 plus VAT|
|Catastrophe Planning: Ensuring your family could cope with the loss of a spouse (password recovery, legal and financial documentation)||N/A||€1,000 plus VAT|
In all cases our minimum planning fee is €1,500 plus VAT. Implementation & Ongoing Advice Fees are set out under Schedule 2 below. Please note that this fee illustration is only for advisory costs.
Fund management, custody and dealing charges and taxes will be payable in addition. We cannot estimate the likely portfolio fees at this stage as they are dependent on the actual funds that will make up your portfolio. We will however, set these out in detail in our statement of advice to you.
Implementation fee scale depending on amount invested in total
|Investment amount||Implementation Fee|
|Between €2,000,000 and €5,000,000||0.75%|
|Between €5,000,000 and €10,000,000||0.65%|
|Between €10,000,000 and €15,000,000||0.55%|
|Between €15,000,000 and €20,000,000||0.45%|
|Between €20,000,000 and €25,000,000||0.35%|
|More than €25,000,000||0.35%|
Ongoing Investment Intermediation Fees
We will keep your portfolio under review to afford you the best chances of meeting your requirements. We will provide you with a summary valuation at least every twelve months. On an annual basis, we will offer you the opportunity to confirm if there have been any changes in your objectives and recommend any changes to your portfolio as necessary. Ongoing remuneration will be paid to us on the basis of all cash and investments that are being used to satisfy your requirements as valued by the third-party custodian in accordance with their term of business. Our ongoing fees comprise our Portfolio Monitoring and Reporting Fees. Our Portfolio Monitoring and Reporting Fee is 0.5% of your assets. This is capped at €30,000 per annum. Where applicable we charge an Investment Advisory Fee. Our Investment Advisory Fees are as set out in the table below:
|Between €2,000,000 and €5,000,000||0.25%|
|Between €5,000,000 and €10,000,000||0.25%|
Ongoing charges will be deducted from your account on a quarterly basis.
Our typical hourly charges for individual consultancy are:
|Investment amount||Annual remuneration|
|Director||€350 per hour|
|Certified Financial Planner||€200 per hour|
|Trainee Financial Planner||€150 per hour|
|Customer Service||€100 per hour|
Consultancy fees are calculated on the basis of the time spent on the work and the charging rate depends upon the complexity of the task and the seniority, qualifications, knowledge and experience of the individual advising or assisting you.
Before commencing additional work, you will be notified of the level of fees in your case. Some fees are subject to VAT where appropriate. At your request, we will provide an estimate of the likely fee in advance of carrying out any chargeable work.
Our fees will be charged and due whether or not a transaction completes or a matter is brought to a successful conclusion. Our charge out rate is as described and the staff providing the service will be selected at our absolute discretion.
The time to be subject to this rate will be all the time which the advisers involved in the engagement spend during the course of our engagement, including, without limitation, writing letters and other correspondence, drafting, reviewing and amending documents, attending meetings, making and receiving phone calls, reviewing the subject matter of the engagement, researching issues arising, discussing an matters with other members of staff and external consultants, liaising with you, your employees, your other advisers and with other third parties, making file notes, arranging meetings, file administration, dealing with all compliance issues, preparing and agreeing invoices and carrying out all work subsequent to completion of the subject-matter of the engagement.Any fee estimate provided is not an agreement to perform the services within a fixed time or for a fixed fee. It is a preliminary approximation based on the facts currently available and the amount of time currently envisaged to be spent. If either of these factors changes, our fees will differ from the estimate.
If we engage other service providers, including professional advisers, on your behalf we do so as your agent and their fees and expenses shall be for your account. You will reimburse us for all and any disbursements incurred in connection with and during the course of our engagement, including any payments made by us to such providers. These disbursements include but are not limited to other professional advisers fees, courier fees, and printing and photocopying fees.
We may ask for a payment on account of our fees and/or disbursements or an advance retainer, either at the outset and/or during the course of an engagement. Upon receipt of such payments, we will draw on such sums for our fees and disbursements as they become due. In certain circumstances we may ask for the provision of security for payment of our fees and/or disbursements.
All fees and disbursements are exclusive of all applicable VAT or other appropriate local taxes, which will be added if applicable.
The final fee may be adjusted at our discretion to reflect certain specific factors such as the urgency of the transaction, substantial periods of work outside normal business hours and the value of the transaction. Where any such factors might be applicable we shall Endeavour to inform you in advance.
Terms & Conditions
Payment of Fees
Financial Planning Fees will accrue from the commencement of the engagement and are due on presentation of the initial report and at quarterly intervals thereafter and invoiced accordingly. Implementation fees will be due for settlement when the initial actions agreed have been completed. However, in the event of circumstances beyond our control resulting from third party delays, we will present an invoice on a pro-rata basis for work completed after 3 months and 6 months.
Ongoing fees will be charged and collected by the independent custodian.
Period of this Agreement
This agreement shall continue in force until determined by either party giving immediate notice to the other in writing. Determination may be at any time without prejudice to the completion of transactions already initiated on your behalf. After termination of this agreement Everlake will complete any transactions in progress but will not execute any further transactions, nor provide any further advice on existing or proposed investments. You will remain liable for payment of any fees due to Everlake prior to termination of this agreement and the due proportion of any periodic payment.
Termination of the relationship
We may terminate the Agreement at any time, in our absolute discretion, on giving you 6 months’ notice.
You may terminate the Agreement at any time on giving us 6 months’ notice.
We may terminate the Agreement immediately
For any of the following reasons:
(a) Your death;
(b) Your bankruptcy or other act of insolvency; or
Termination of the Agreement will lead to termination of all Everlake services that you have availed of, and will be without prejudice to liabilities incurred prior to termination. All costs that we have to bear on a termination are for your account.
If the Agreement is terminated, you may exit the relationship immediately. The custodian will calculate fees due with reference to their terms and conditions.
Following termination, we will place your credit balances (after deduction of our costs) at your disposal in the manner deemed most suitable by us and settle all outstanding transactions as quickly as is reasonably possible, having regard to all relevant circumstances.
Billing Procedures and Payment Terms
We will be entitled to issue invoices for our services provided and disbursements incurred on a monthly or more frequent basis as the work progresses.
All invoices are due for payment on presentation to you. If an invoice remains unpaid after 10 working days we may, without limiting our remedies:
- Not perform any further work for you until the invoice and any interest which may have become due is paid in full and/or;
- Charge penalty interest in accordance with the European Communities (Late Payment in Commercial Transactions) Regulations 2012 whether or not this engagement is a commercial transaction with the meaning of those regulations.
Assistance, Provision of Information and Instructions
You will assist and cooperate with us, as appropriate to enable us to provide the service described in this letter of engagement.
You will provide us with complete and accurate instructions in writing and provide such information and documentation and disclose to us all facts that may be relevant to the engagement or that we may otherwise request, and you will undertake to keep us appraised of all developments relating to the engagement.
Where written instructions are received which differ from telephone or other oral instructions previously given, we will carry out the written instructions as and from the date of their receipt.
Copyright etc and Documents
We retain all copyright and other intellectual property rights in everything generated by us during the course of this engagement, including without limitation, all reports, documentation, written advice or other materials.
We will provide our services to you in connection with this engagement with reasonable skill care and subject to the limitations in these terms of engagement.
Our advice and other services are provided to you for the sole purpose of this engagement. They do not constitute advice or services to any third party to whom you may communicate them. We will not be liable to any third party of for the use of our advice for a different purpose or in a different context to that for or in which it was given.
We will not be liable for any loss caused by acts or omissions of any person other than Everlake or its employees, whether we act as such persons agent or otherwise.
We will not be liable for any loss caused in whole or in part by your failure to assist or co-operate with us or by the provision to us of inaccurate, misleading or incomplete information or by the failure to bring or any delay in bringing information or documentation to our attention or by your failure to act on our advice.
No claims or proceedings of any sort whatsoever arising out of or in connection with this engagement will be brought personally against any persons involved in the performance of this engagement, whether or not our actual or deemed employees or agents, or against any company that is a member of the same group of companies as our company or any employee thereof.
We disclaim to the maximum extent permitted by law any indirect, special, incidental or consequential losses or damages of any kind and (whether or not included within such losses or damages) any loss of revenue, data, profits, goodwill or reputation.
If we are liable to you in connection with this engagement our entire liability to you, whether in contract, tort, under statute or otherwise and including legal and other fees and expenses arising therefrom for which we are liable, in connection with all our work done for you will not, unless we have been fraudulent, exceed the lower of ten times the fees paid to us in connection with the engagement and €1,500,000 (one million five hundred thousand euro) If we are engaged by more than one party for the same work, such limit of liability shall, in the absence of our express written agreement, be shared equally between such parties.
Governing Law and Jurisdiction
These Terms and all aspects of the provision of our services to you are governed by the laws of Ireland. You irrevocably submit to the exclusive jurisdiction of the courts of Ireland.
If any provision in these Terms is held to be invalid and unenforceable, such provision will be severed (but only to the extent necessary to make such provision valid and enforceable) from these Terms shall not affect the validity or enforceability of the other provisions in these Terms.
Everlake Services & Fees May 2022