OUR REMUNERATION
We, Wallpin Limited t/a Wallace Financial act as an 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.
HOW WE ARE PAID FOR THE PROFESSIONAL EXPERTISE WE PROVIDE TO YOU OUR CLIENT.
Financial Services: Investment Intermediary and Insurance Intermediary
We will be remunerated for the financial services we offer you our client, in a number of ways:
- By commission, fee, and other types of remuneration earned from Insurers and Product Producers to whom orders are transmitted.
- This payment is earned by us for the work we undertake on behalf of the Insurer and/or Product Producer and by you our client as we offer advice and facilitate transactions on your behalf with the Insurers and Product Producers
What is Commission?
Commission is the payment which may be earned by us for the work we undertake on behalf of the Insurer and/or Product Producer and by you our client as we offer advice and facilitate transactions on your behalf with the Insurers and Product Producers. Commission is usually paid as a percentage of the premium paid or amount invested.
For more information please download the attached Commissions Schedule