I've been reading the forum for quite a while now, but this will be my first post. Hi!
Having moved to Ireland relatively recently, I'm looking to set up a PRSA. I'm relatively young (early 30s) so I have a long time horizon, and I won't be investing any particularly big sums initially. I'll continue putting money into this though, of course. I'm in decent employment, but my employer doesn't have any pension plans, so it's left to me to set something up.
I don't believe that actively managed funds can "beat the market" to such a big extent, and over as long time periods as I'm looking at, that they're really worth the additional charges that they cost. Instead, ETFs are interesting; cheap, and I'd imagine that as long as they're sufficiently broad, they should also be reasonably safe, considering the long time spans.
As far as PRSA providers go, having looked at a bunch of different ones, I'm currently leaning towards Davy Select's execution-only PRSA (100% allocation rate, 0.75% AMC (+ the cost of the ETFs themselves - I think this will be 0.15%, but will need to verify)). It's a non-standard PRSA, which makes me feel slightly uncomfortable, but my understanding is that standard PRSAs won't offer ETFs. Assuming that the costs of the ETFs themselves are not too crazy (which I'll need to verify), the overall cost should be ok, I think. Their availability of funds and platform seem good, and I was impressed by the person I spoke on the phone with.
Basically, I'd like some general feedback on this. Does it sound ok? Is there some alternative PRSA provider that may be better which I should check out? Any feedback and advice at all would be very welcome.
Having moved to Ireland relatively recently, I'm looking to set up a PRSA. I'm relatively young (early 30s) so I have a long time horizon, and I won't be investing any particularly big sums initially. I'll continue putting money into this though, of course. I'm in decent employment, but my employer doesn't have any pension plans, so it's left to me to set something up.
I don't believe that actively managed funds can "beat the market" to such a big extent, and over as long time periods as I'm looking at, that they're really worth the additional charges that they cost. Instead, ETFs are interesting; cheap, and I'd imagine that as long as they're sufficiently broad, they should also be reasonably safe, considering the long time spans.
As far as PRSA providers go, having looked at a bunch of different ones, I'm currently leaning towards Davy Select's execution-only PRSA (100% allocation rate, 0.75% AMC (+ the cost of the ETFs themselves - I think this will be 0.15%, but will need to verify)). It's a non-standard PRSA, which makes me feel slightly uncomfortable, but my understanding is that standard PRSAs won't offer ETFs. Assuming that the costs of the ETFs themselves are not too crazy (which I'll need to verify), the overall cost should be ok, I think. Their availability of funds and platform seem good, and I was impressed by the person I spoke on the phone with.
Basically, I'd like some general feedback on this. Does it sound ok? Is there some alternative PRSA provider that may be better which I should check out? Any feedback and advice at all would be very welcome.