Trail Fees offer a regular source of income
People release equity from their homes for a variety of reasons - including maintaining or enhancing lifestyle, home improvements and helping family or friends. And, we recognise that releasing equity from property is not the end result but rather it could be seen as the start of a journey.
Future advice
Because our Open Options Property Plan is flexible and fair, your client may, in the future, seek your advice on a number of things, like extracting more equity, maintenance problems or even planning issues.
Long-term reward
In recognition of this ongoing involvement Retirement Plus will pay advisers an annual Trail Fee of 10 basis points (0.10%) on the original amount released*. This of course amounts to an additional 1% over 10 years, a valuable and regular source of income. This is over and above any additional fees you are entitled to when giving further advice.
*Please Note
Retirement Plus will pay the Trail Fee on the original amount released, on Plans where no notice of cancellation or a sale event as defined in the Property Plan has occurred on or before the 31st of December of that year subject to each Property Plan being older than 183 days. This Trail Fee will be paid before 31st January each year. It is the responsibility of the recipient of the trail fee to notify Retirement Plus Ltd of any changes to payment details. In the event that such changes are not provided to Retirement Plus Ltd within six months of a payment date falling due then Retirement Plus Ltd’s obligation to pay outstanding or future trail fees will cease.