Schedule of Fees and Charges



The full advisory service generally relates to a comprehensive review of existing financial assets and liabilities. A comprehensive review, much like legal and taxation consultancy, costs money, meeting the costs of travel, research, meetings, reports and administration and, typically, involves several hours of work. Hobbs Financial Practice Limited offers new clients two options to pay for our services, to be selected at outset. These are Pure Fee Only and Fee-Based advisory services. Unless Pure Fee Only is specifically opted for by the client, Fee-Based service will apply.

Higher fees usually relate to very detailed research into the complex affairs of an individual client or when detailed corporate work is required like reviewing a large staff pension scheme. In all cases we make our fees known upfront and agreed with our clients in advance of any engagement. Unless stated otherwise our Pure Fee Only hourly rate is €400 plus Vat and which includes cost recovery for travel, meetings, research, analysis, reports, executing instructions, administration and compliance and a profit element. Any additional expenses related to overseas travel, etc., will be separately receipted and billed.



The Fee-Based service is not time-based. A lower fee is charged for research and analysis, typically between €400 and €1,000 plus VAT, depending on the complexity of the client position. This fee part covers several hours of travel, meeting, analysis, reporting, administration and compliance costs, and represents a discount to true costs. Subsequent initial or sales commissions earned by Hobbs Financial Practice Limited ore used to subsidies advisory costs, which would otherwise be billed on the Pure Fee Only basis.

Where initial commission falls short of advisory costs no fee will be charged to the client. All sales commissions received by Hobbs Financial Practice Limited will be retained by Hobbs Financial Practice Limited. As a matter of practice policy we ovoid sales commission or reinvest initial or sales commissions for client investments where possible, instead benefiting from a share of the fund management charge by the asset manager as a rebate of its standard fees or as an addition.

We outline overleaf our commission and fee charging structure tor the Fee-Based service and which will apply to client investments unless otherwise stated. This includes all executive-only transactions.



Pure Fee Only means the client pays Hobbs Financial Practice Limited exclusively for time expended on client affairs. Subsequent investment products, if any, will typically be invested on a nil commission’s basis. Hobbs Financial Practice Limited’s fees will be debited against the client account at a rate of €400 per hour plus VAT.

Hobbs Financial Practice Limited’s authorisation means it can deliver broad advice on many of the investment instruments ranging from deposits to complex financial products.

A comprehensive analysis and report for a new client will typically cost between €2,000 and €4,000 plus VAT to complete, depending on the complexity of client affairs. Hobbs Financial Practice Limited will provide a fee indication after initial examination of the client position, and fees may vary from the above. Fees are payable after the completion of agreed analysis and reporting unless otherwise stated.



For simple advisory services Hobbs Financial Practice Limited may charge a part-hourly rate for and/or collect disclosed commission earnings from product providers depending on the circumstances and often dependent on client choice. This relates to single transaction or advice on matters like mortgages, savings, pension funds, etc. Hobbs Financial Practice Limited also provides advice services at no cost where we can do so but our scope due to regulation is increasingly limited as a consequence of rules that require deep analysis of client’s financial affairs, attitudes, objectives and experience before giving advice even of a simple nature.



Outlined below are the maximum advisory commissions under Hobbs Financial Practice Limited’s Terms of Business. Unless stated otherwise, Hobbs Financial Practice Limited does not charge for arranging investment, pension and savings schemes on nil initial commission terms, earning instead a rebate of the fund management charge typically of 0.5% p.a. In the case of JPMorgan we are rebated half its annual management charges. Total fund management charges usually range between 1.0% to 1.5% p.a. depending on fund type. Highly specialised funds including geared property funds may have higher charges including incentive fees.


Protection Products

Initial commission is typically payable by the insurer to Hobbs Financial Practice Limited related to the possible policy term on the basis of 9% per possible policy year usually subject to a maximum of 90% of the year one premium; although in some instances it may be higher. Protection products include term assurances and health insurance.


Life Office Products

Life offices, distributing through the intermediary sector, engage in making override payments from central marketing budgets. These are not, typically, deductions from products and may be paid to Hobbs Financial Practice Limited. These are subject to statutory disclosure under the European Communities (Insurance Mediation) Regulation 2005.



Hobbs Financial Practice Limited will charge 1% of the mortgage raised to the client, unless paid by the lender as introductory commission. This is subject to a minimum fee of €1,200 plus VAT, less credit for any commission paid by the lender.