Change to Scale of Fees and Charges – 01/01/2024

Professional Fee

The McCarthy Insurance Group may also opt to charge a Professional Fee in certain circumstances paid directly by the Client for work carried out on the Client’s behalf. Our fees for providing the services covered by this Terms of Business Letter are based on a combination of; time spent researching the market, time spent on advice and consultation, the level of skill and responsibility required of the adviser in respect of the services provided and any expenses incurred during the process.  Where this applies, we will confirm the fee in writing prior to the completion of the business. 

The McCarthy Insurance Group provides a professional service to our clients and we incur levels of expenses and overheads similar to other professionals.  Our costs include light/heat, telephone/broadband, rent, rates, insurance, salaries/PRSI, motor, transport, postage, stationery, I.T. and software licence fees etc.  

Our current basic hourly Professional Fee rate is: €300 for Managers & Qualified Financial Advisers and €150 for support staff.  In determining the rate, any additional charging factors will be taken into account including; specialist skills required of the adviser, the complexity of the product or transaction concerned, the value of the transaction, the level of risk and the urgency with which the transaction must be completed.

Any Professional Fee levied by McCarthy Insurance Group will be charged in lieu of, not in addition to, any commission earned from Product Producers. 

Charges
Charges, as distinct from our Professional Fee, are levied to cover administrative costs incurred by McCarthy Insurance Group due to the actions of the client. Charges are levied in addition to any commission earned from Product Producers or any Professional Fee paid by the client.