Best AVC and Best Financial Broker currently available in Ireland - 2024?

The cheapest option is to use a discount broker, but that is execution-only, no advice.

Execution-only broker:

• limited choice of provider, e.g. www.labrokers.ie use Zurich
• you choose the monthly contribution
• you choose the funds

If you want advice, Cornmarket specialise in public service AVCs, they charge 595 set up fee.

I assume the OP wants to make contributions to an AVC via the payroll so s/he gets the tax benefit straight away. I'm not sure if an AVC scheme which is allied to your occupational scheme can involve any old supplier that you choose.

Check with your trade union. They usually have an arrangement with a broker, often Cornmarket, for reduced fees. Though it's always worth benchmarking these fees against other options available in the market.

One off set up fee. They charge a 10% fee on lump sum payments. If you decide to chuck an extra grand in one year, it'll cost you 100.

The typical fees on most (but not all) pension plans are as follows:

(1) charge on each contribution, e.g. 95% allocation, 97% allocation. 100% allocation means zero charges on the contribution

(2) AMC on each fund. These are often 1%, sometimes higher, you might be able to get 0.75%

(3) policy fees. These should be zero, but watch out.

Cornmarket charge a once-off 595 set-up fee if you want advice. They now offer execution-only set-up fee for 100 euro.

https://cornmarket.cdn.prismic.io/cornmarket/c8b0cfc4-e03e-4055-9be0-59b240663b2a_20016+Remuneration+Doc+04-24_FA_WEB.pdf

To be fair to Cornmarket, you can set-up an AVC for 100 euro with no advice, pay 0% contribution charge, and 1% AMC.

Single Premium is a once-off contribution.

Yes, you may need to mention the PRSA-AVC contributions in your annual Form 12 tax return.

Maybe just once, at the start, I'm not sure.

Or maybe each year.

What are you saying 'no' to? I said that any AVC scheme required Revenue approval. And that the employer had to agree to the setting up of such a scheme.

I accept your point about Cornmarket not being a provider, not sure how you took issue with anything else I said.

Is it not possible to set them up yourself and claim the tax relief manually after? Similar to a PRSA?

If you want the convenience of salary deduction Cornmarket / Irish Life is your only option. you don't need to orgainse the tax relief as it's automatically deducted at source. The €595 fee is tax deductable so if a 40% tax payer net cost to you is €357. 100% allocation with an annnual management charge of 1% is on par (or better) with cost structures of PRSA AVC's with other Life Co.'s. Any broker (except execution only) will charge a fee for their time/advice and will likely be more than €595 (ask a few brokers, no harm in doinf a bit of research…. Cornmarket are high volume / cheaper.

Me too, I find them very good to deal with.

Yip, that's it alright