Remuneration Policy
SproutPlans is typically remunerated by commission from product providers and insurers when we arrange investment, pension or insurance‑based products on your behalf. We apply a consistent commission structure across all providers, and our advice is never influenced by the commissions received.
Furthermore, SproutPlans conducts a fair market analysis before making any product recommendations i.e. we review the market to arrive at what we believe is the best solution for the particular client circumstances.
For most investment, savings, and pension products, SproutPlans receives an annual commission of 0.25% from life companies. We believe this is competitive and fair, and it allows us to actively monitor and review client portfolios.
Our priority is always the client’s long-term financial wellbeing, and we stand behind our advice with transparency and trust.
In advance of implementation of a specific recommendation we clearly set out the commissions that will be paid by our regulated product providers in implementing such an arrangement for you.
Advisory Fees
You may also wish to seek general advice independent of products provided by any of our partners and we can do this on a fee basis as set out below.
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Life Cover Advice only – €500 & VAT
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Investment Advice only – €750 & VAT
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Pension Advice only – €750 & VAT
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Full Financial Plan – €2,500 & VAT
Commission Structures
We, MyRoboFP Limited/ T/A SproutPlans act as intermediary between you, the consumer, and the product provider with whom we place your business.
Pursuant to provision 458A 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 Commission?
Commission is the payment an intermediary earns for work carried out on behalf of both the product provider and the consumer. It’s typically based on the value of the product sold.
Types of Commission Models
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Single Commission: A one-time payment made shortly after the sale, based on a percentage of the premium, investment amount, or loan value.
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Trail/Renewal Commission: Ongoing payments made at regular intervals over the life of the product.
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Indemnity Commission: An upfront payment made before the commission is fully earned. If the product is cancelled early, this may be subject to a clawback.
Some indemnity commissions may also be advanced against future sales to support setup costs or business development.
Life Assurance/Investments/Pension products
Commission for Life Assurance products is typically split into:
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Initial and Renewal Commission – based on the premium
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Fund-Based or Trail Commission – based on the accumulated fund value
Terms like trail, bullet, flat, and renewal commission all refer to ongoing payments. For regular contribution products, commission may be a percentage of the annual premium or fund value. For single premium (lump sum) products, it’s usually based on the fund value.
Product Types
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Life Assurance: Individual or group protection policies
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Investment/Pension: Single or regular contribution policies
Examples include Life Protection, Regular Premium Life Assurance Investments, Single Premium Insurance-Based Investments, and Single Premium Pensions.
Clawback
If a product is cancelled or lapses within a specified period, the provider may reclaim part of the commission paid to SproutPlans. This is known as clawback. We will always inform clients if a product carries a clawback risk and how it may affect them.
Encashment Penalties
For some plans, if a product is cancelled or lapses within a specified period, early encashment penalties may be applied to the surrender value - typically during the first five years. Where these penalties apply, they will be fully disclosed to clients in advance, including how they reduce over time and the potential impact on their plan.
Sustainability
We evaluate how product providers integrate sustainability risks into their investment offerings before making recommendations. This ensures our advice supports both financial and ethical goals but very much tailored to your own preferences.
Transparency and Disclosure
Before any product is arranged, we will provide:
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A breakdown of fees and/or commission
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Details of any ongoing remuneration
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Information on clawback provisions
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A written summary of the costs and benefits of the product
Commission Transparency
The commission tables below show the maximum commission SproutPlans may receive across all product providers and products we advise on. These figures are indicative and may change. In most cases, we take less than the maximum shown.
We’re committed to full transparency. You’ll receive a clear breakdown of any commission paid to SproutPlans for your specific policy, in line with the Central Bank Consumer Protection Code.
For ongoing management of pensions, investments, and savings, we apply a charge of 0.25% per annum based on the value of your plan for any plan we arrange. Insurance company charges may vary and will be outlined clearly.
Further details on the providers we work with, the products we offer, and the maximum commissions available to us are listed below.
Maximum Commission Rates
Regular Contribution Products
Investments Bonds
Single Contribution Pension Products
Annuity
