Our Remuneration and Commission Arrangements
We DNG Financial Services Ltd t/a DNG Mortgages, DNG Life & Pensions act as intermediary (Broker) between you, the consumer, and the product provider with whom we place your business.
The Background
Under Provision 4.58A of the Central Bank of Ireland’s Consumer Protection Code 2012 (as amended), all intermediaries must make available in their public offices — or on their website — a summary of the details of all arrangements for any fee, commission, or other remuneration agreed with their product producers.
This document outlines how DNG Financial Services Ltd is remunerated for the services we provide.
What is Remuneration?
Remuneration refers to the payments or benefits earned by the intermediary for work undertaken on behalf of both the product provider and the consumer. The level of remuneration is usually linked to the type and value of the product arranged.
What is Commission?
Commission is a form of remuneration that may be earned by an intermediary for arranging a financial product or service.
There are several types of commission and remuneration models, including:
• Single Commission Model
A once-off payment made to the intermediary shortly after a sale is completed, usually based on a percentage of the premium, investment amount, or mortgage loan.
• Trail / Renewal Commission Model:
Ongoing commission payments made at intervals throughout the lifespan of a product.
• Indemnity Commission:
Commission paid in advance of being “earned”. It may be subject to a clawback if the policy is cancelled, lapsed, or withdrawn within a specified period.
In certain cases, providers may also offer advance commissions to assist intermediaries with setup or development costs.
Sustainability Factors- Investments/IBIPs/Pension Advice
When providing advice on investments, insurance-based investment products (IBIPs), or pensions, we take due care to ensure our internal remuneration policy supports sound and effective risk management and does not encourage excessive risk-taking in relation to sustainability risks.
We consider how product providers integrate sustainability factors into their offerings, and this forms part of our analysis when selecting a suitable provider for each client.
Life Assurance, Investments, and Pensions
For life assurance products, remuneration typically includes:
• Initial commission — related to the initial premium, and
• Renewal / trail commission — related to ongoing premiums or accumulated fund values.
For single premium (lump-sum) investments or pensions, ongoing increments may be based on a percentage of the fund value.
Examples of such products include life protection, regular or single premium investment policies, and pension contracts.
Investment Firms
Where business falls under the scope of the Markets in Financial Instruments Regulations (MiFID), intermediaries may receive both initial and trail commissions.
Ongoing payments are often based on a percentage of the investment management fee or fund value.
Credit Products and Mortgages
For mortgage business, DNG Financial Services Ltd may receive commission from the lender after successful drawdown.
The standard commission model for mortgage intermediaries is typically a single payment from the lender based on a percentage of the loan amount.
Clawback
“Clawback” refers to the obligation to repay unearned commission if a product is cancelled or withdrawn within a certain period.
If this occurs, we may be required to refund the relevant portion of commission to the product provider.
Fees
In some cases, DNG Financial Services Ltd may also be remunerated by way of fees — either from a product producer (e.g. policy or administration fees) or directly from clients for specific services.
Our current fees are:
• 30-minute General Consultation: €100
• 60-minute General Consultation: €200
• Full Financial Plan: €850
No other fees, mortgage consultation charges, or ongoing adviser fees apply.
Commission Ranges and Factors
Throughout this summary, certain commission ranges or maximum percentages may be shown.
The actual commission received can vary based on factors such as:
• The product type and term
• The level of premium or investment
• Provider commission structures
• The complexity of the advice or service
• Our time spent in research, recommendation, and ongoing servicing
List of Providers
Please see the lphabetical list of the product providers below with whom DNG Financial Services Ltd hold an appointment.
Avant Money by bankinter
Aviva
Haven
ICS
Irish Life
Moco
New Ireland
Nua Homeloans
PTSB
Royal London PRB and ARF
Royal London Protection
Royal London PRSA
Standard Life
The Mortgage Store / Bank Of Ireland
Zurich Life
Regulatory Statement
DNG Financial Services Ltd t/a DNG Mortgages, DNG Life & Pensions, DNG Financial Services is regulated by the Central Bank of Ireland.