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Our Remuneration

We, Fermat Point Ltd trading as Global Wealth act as intermediary between you, the consumer, and the product provider with whom we place your business.

The Background

Pursuant to provision 4.58A of 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 Remuneration?

Remuneration is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of remuneration is generally directly related to the value of the products sold and generally takes the form of a commission payment or profit share arrangement where the intermediary is paid a percentage or portion of the product value. The firm may also be remunerated by fee by the product producer such as policy fee, admin fee, or in the case of investment firms, advisory fees. 

Important

Fermat Point Ltd t/a Global Wealth does not intend to arrange any contracts with product providers via a commission-based payment as our fees are agreed individually with each consumer via our letter of engagement.

Fermat Point trading as Global Wealth, earns it’s income in the context of these regulations, in the form of advisory fees which can take the form of initial implementation fees payable when setting up an investment or pension product and ongoing advice fees payable each year for the ongoing servicing of the investment or pension product.

For more details, please see our Terms of Business.

Certain execution venues (collectively known as platforms) may facilitate the collection and payment of these fees on behalf of our clients but for the avoidance of doubt, these fees are all agreed with the consumer and are not under the control of the product provider.  

Other Fees, Administrative Costs / Non-Monetary Benefits

The firm may also be in receipt of other fees, administrative costs, or non-monetary benefits such as:

  • Attendance at product provider seminars (continuing professional development events) [please note that it is a requirement of the Minimum Competency Code that all advisers complete at least 15 hours a year of Continuing Professional Development]

Conflict of Interest

It is our policy to avoid any conflicts of interest when providing business services to clients. However, where an unavoidable conflict may arise we will advise you before providing any such service. If you have not been advised of any conflict you may assume that none arises.

PortfolioMetrix Asset Management 

Fermat Point Ltd trading as PortfolioMetrix Ireland is the distributing partner for PortfolioMetrix Asset Management in Ireland. PortfolioMetrix provides professional discretionary portfolio management services to financial advisers and private wealth managers including Global Wealth.

We therefore wish to disclose that there is a potential conflict of interest between the two trading names of Fermat Point Ltd.

However, Global Wealth is required to conduct a fair analysis of the market and will only introduce you to the PortfolioMetrix Asset Management Service where it is suitable for your requirements. In every respect Global Wealth will provide advice which is both suitable and appropriate for you.

In order to minimise the impact of this particular conflict, arrangements are in place which means that Fermat Point Limited t/a Global Wealth does not receive any additional benefit from any commission/fee or receive any other monetary benefit in relation to any recommendation which includes PortfolioMetrix services.

For the avoidance of doubt, Global Wealth reduces its fees to reflect the additional payment arising from PortfolioMetrix Ireland.

List of Regulated Product Providers that our firm deals with in order to provide Investment and Pension Services

Pension Trustee

  • Independent Trustee Company Ltd (PRSA) 

Platforms and location

  • Conexim (Ireland)
  • Charles Schwab (UK)
  • Capital International (Isle of Man)
  • Royal Bank of Canada (Channel Islands)
  • Moventum (Lux) 

Life Insurance Providers

To arrange a protection contract please see Fermat Point Ltd t/a Ethical Financial

CPC 4.58A version 2.0 31.3.2020