Legacy Advisory Group acts as an intermediary between clients and product providers in relation to the financial services and products we arrange.

This document outlines the remuneration arrangements that may apply to services provided by Legacy Advisory Group and is published in accordance with the requirements of the Consumer Protection Code and related regulatory requirements.

Background

Pursuant to Provision 4.58A of the Central Bank of Ireland's September 2019 Addendum to the Consumer Protection Code, intermediaries are required to make available, either in their public offices or on their website, a summary of all arrangements for any fee, commission, reward or other remuneration agreed with product providers.

What is Commission?

For the purposes of this document, remuneration is the payment earned by an intermediary for work undertaken on behalf of both the product provider and the client. The amount of remuneration is generally linked to the value of the product arranged.

There are several forms of remuneration:

Single Commission

• A one-off payment made shortly after a product is established. This is typically calculated as a percentage of the premium paid, amount invested or amount borrowed.

Trail / Renewal Commission

• Ongoing payments made throughout the lifetime of a product.

Indemnity Commission

• A commission payment made before it is deemed to have been fully earned. Such payments may be subject to clawback if the product is cancelled, surrendered or lapses within the specified clawback period.

Profit Share Arrangements

• In certain circumstances an intermediary may participate in profit-share arrangements with product providers and may receive additional remuneration.

Where such arrangements exist, recommendations will continue to be made solely on the basis of the client's circumstances, objectives, financial position, risk profile and requirements.

Life Assurance, Investments and Pension Products

For Life Assurance products, remuneration may be paid by way of initial commission, renewal commission, trail commission or fund-based commission.

Where an investment fund is being built up through an insurance-based investment product or pension arrangement, remuneration may be based on:

• The value of the accumulated fund;

• The annual premium; or

• The value of a lump-sum investment.

Products may include:

• Life Protection

• Regular Premium Life Assurance Investments

• Single Premium Insurance-Based Investments

• Pension Products

• Personal Retirement Savings Accounts (PRSAs)

• Approved Retirement Funds (ARFs)

Investments

Investment firms regulated under the Markets in Financial Instruments framework may operate both initial and trail commission models.

Remuneration may be based on:

• Investment management fees;

• Fund values; or

• Other agreed charging structures.

Clawback

A clawback is an obligation on the intermediary to repay commission previously received.

Commission may be paid shortly after a policy or investment is established but may not be regarded as fully earned until after a specified period. If a client cancels, surrenders or withdraws from a product during that period, all or part of the commission may be repayable to the product provider.

Fees

In addition to commission, Legacy Advisory Group may receive fees from product providers where permitted by regulation, including policy fees, administration fees or advisory fees.

Where a fee is payable by a client, details will be agreed and disclosed in advance.

Preferred Provider Arrangements

Legacy Advisory Group does not operate any preferred provider arrangements.

Recommendations are based on a comprehensive assessment of each client's individual circumstances, objectives, financial position, risk profile and requirements.

Other Fees, Administrative Costs and Non-Monetary Benefits

From time to time, Legacy Advisory Group may receive non-monetary benefits associated with the provision of financial services, including:

• Attendance at educational or technical seminars;

• Product provider training events;

• Industry conferences;

• Assistance with advertising or branding initiatives.

These arrangements do not influence our commitment to acting honestly, fairly and professionally in the best interests of our clients.

Commission Schedules

The following commission schedules apply to products arranged through product providers and should be read in conjunction with the explanations above.

Single Contribution Products