Posts Tagged financial planning

The Society of Financial Planners of Ireland – Why It’s Needed!

As a founding member of the Society of Financial Planners of Ireland I am truly delighted to see increased media coverage of our fledgling organisation. This delight extends not from the ego trip that one might think such a name check might get but from the financial media’s recognition that far higher professional standards in the area of personal financial advice are needed in Ireland. Unfortunately the minimum standard that exists in Ireland to give personal

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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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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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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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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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Well what do you do?

Were you ever at some event or other which didn’t involve people who worked in your industry and you get asked by people who never met you before: “Well, what do you do?” I have to admit that, as someone who is not as outgoing as most people, I used to find this question somewhat awkward, even though I am self employed and my business depends on growth through new client relationships. Despite being involved

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The “What If” Scenarios? Financial Plans Are Far More Important Than Financial Products

As a financial planning firm we get involved in a lot of sophisticated financial analysis. We crunch numbers in spreadsheets and similar tools with the same passion as kids (and now more recently many adults) play video games. Sad you might say that we prefer Excel to the latest Playstation or Xbox release but the reality is this is what our clients expect. If we can’t get excited about our clients finances, then we shouldn’t

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