Eamon’s Financial Blog

 

Eamon Porter, trading as Aspire Wealth Management, is regulated by the Central Bank of Ireland.

The Real Need For A Financial Planner

  When I meet a prospective client one of the first areas to be discussed is what financial products they currently hold. While many people will know that they have a mortgage and its broad details, less will know about what their pension fund and investments are applied to and even fewer again will know what level of life assurance they hold. Most people usually do  not give time to, never mind arrange, either their Will or

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Investing For Retirement

The best way to grow your retirement savings is to invest them intelligently. Putting money in a bank deposit account will, after deduction of DIRT, more than likely not earn you enough to even cover inflation.  In order to beat inflation you have to invest in such a way that your rate of return goes above and beyond inflation. The best place to to use what are referred as “real assets”. In essence, this would historically have meant

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The Case For Managing Financial Clients Rather Than Their Assets

Financial history is peppered with stock market crashes, property market booms and busts and a vast array of stories of individuals who have either made or lost fortunes, or even both. Irrespective of the past, a financial adviser deals with the here and now as well as the future, keeping one eye on clients’ possible expenditure requirements. In doing this, giving the right advice is a subjective process in terms of possible investment portfolio construction

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Learn From History And Plan For Tomorrow.

Some years ago I became involved in using psychometric tools to analyse human behaviour in a financial context. Since then I have been more watchful of both individuals and group dynamics as people go about their daily routines. The skipping of breakfast, grabbing a coffee on the way into work, eating a sandwich at the desk, playing 5 a side football on the way home or the 9 holes of golf on early spring evening. Indeed, we all have our

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Speeding Fines and Investment Risk

As an investment adviser, the starting point for all investment advice is understanding each client’s tendency to take risk as well as their tolerance in accepting possible losses. From an adviser’s perspective the nightmare scenario is a client who tells you that he/she is prepared to take risk in order to possibly get large gains yet is the first to complain when markets go in reverse. As could be seen from the demise of the

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Why It’s Important To Diversify

We all know the phrase of “not putting all of your eggs in the one basket” but when it comes to investing especially if an investor has not experienced poor investment returns in a while (or possibly, even ever) this approach gets consigned to the category of applying to other people only. If it’s the one thing that a lifetime of being invovled in investments has taught me is that poor returns always follow good

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Investors Can Be Crazy

As someone who has been advising investment clients for over 30 years I’m something of an elder lemon, to coin a phrase. Some people may call me experienced but experience is usually borne out of your own suffering or watching others suffer. Looking back on the trends of investing over those 30 years, an experience which started when I was a stockbroker brings the phrase to mind of “the more things change, the more they

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The Cat’s Butler. How Behaviour Influences Our Financial Thinking.

If you don’t have a cat as a pet and even if the next two paragraphs might not mean much to you please persevere with me. I should add that I am not a natural animal lover but am more of an assistant to those around me that are. Nevertheless I find myself catering to every whim that our cat meows. This includes opening the front door to let him look out before he decides

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Why Financial Planning Is Not The Same As Financial Advice

A little over nine years ago a new personal financial qualification, the Graduate Diploma in Financial Planning was introduced by University College Dublin in conjunction with support from the Life Insurance Association, the Institute of Bankers and the Institute of Taxation. Those who successfully completed this program were then able to sit a further exam with a view to obtaining the international accreditation Certified Financial Planner™ (also referred to as CFP®). This accreditation is regarded

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Why You Need To Understand The Language Of Investment Marketing

From my experience, most investors are very trusting of whoever is advising them about where to place their money for a long term return. While a growing number of such investments are placed into international UCITs the majority of such monies are placed in the unit funds of either life assurance companies or unit trusts operated by private bankers or stockbrokers. In reaching a decision to invest in any fund, investors normally make decisions on

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