When you buy an insurance policy or a savings policy (such as an Endowment, Mortgage Protection Plan, Investment Bond, PEP, ISA or Unit Trust), the IFA who sold it to you receives a commission taken as a percentage of your original investment. Fair enough.
But did you know that...
The IFA continues to receive renewal commissions from your policy over the life of that policy?
If that IFA leaves, the successor inherits these trail commissions although they may have no contact with you whatsoever?
The same potentially applies to every policy and savings plan you have?
goFIFTY50 returns 50% of the ongoing commissions from existing policies (Endowment, Protection Plans, Investment Bond, PEP, ISA, Unit Trust). But not Pensions.
You still continue to receive information as normal from your policy provider. Through My Portfolio, this is a secure database for listing all your financial policies. We give you summary information about your type of policy, your policy provider and policy number.
Furthermore you will have visibility of how much you have in commissions against each policy.
You will be rebated commissions at the end of each October and April. After you log in, your My Portfolio database will show your cumulative commission due to you.
At this time you will have an opportunity to have your rebate sent to a registered charity with gift aid should you so choose, and you will have confirmation of the transaction. When you give your 50% to charity so does goFIFTY50.
Specialties
Trail Commissions, Commission Share
