Cork Fee based financial adviser sought

J

Jeremiah

Registered User
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Hi All,

Would be grateful if anyone could recommend a solid, reliable, fee-based (ie. independent) financial adviser in the Cork area.

Many thanks
 
I just read this post now. I would also be interested in getting advice/name also. I don't want to get someone though who ends up telling me to move this policy or whatever to another company so he/she can get commission. I just need someone who is independent to go through all my bits and pieces e.g insurances, pensions, life insurance....none of these are for large amount believe me. I am unemployed at minute just hoping to get few days a month work but I am struggling to pay bills which is priority to me. I want to see what I am worth financially, will I have any kind of a decent pension when 66 arrives, am I entitled to state pension as I was self employed for good few years. Just need someone to take the file of all that and go through it and cull it...I have policy documents going back years and I prob don't need half of them at this stage they are obselete. I need someone to trawl through all this and advise me and hopefully put my mind at ease for my future. I won't be loaded I know that for sure but will I be able to live in a little comfort that is ...eat, pay bills, run a car, have a life, paint my ol house etc. The everyday things and east of mind.
 
It's not uncommon to see this type of thread where someone is seeking out a truely independent financial advisor. The problem here is cost. A good and reputable independent financial advisor will have a charge out rate of 100 euro per hour +. If the assignment takes 10 hours work, then the fee is 1000 euro. Add in VAT and then you are at 1230 euro. Are the people seeking out an independent financial advisor willing to pay this. Most of them are not.

@Midleton - The best thing you can do is try to trawl through your files yourself initially and do a preliminary cull. The less work that the advisor needs to do, the lower the cost will be. PM me if you need further help on this.
 
Hi. I'm in a somewhat similar position to the person above, except that I am not currently unemployed, but for health reasons, I am considering giving up my job to try to find something less stressful. I have already put together the details of my current financial status & outgoings, but I don't know where to look for an independent financial advisor - someone who can give me an idea of the best way to deal with some of my existing investments, savings & insurance policies. And someone who can give me an indication of how much money I need to be earning to continue to live relatively comfortably. Is there a list of people who have achieved CFP certification available somewhere? By coincidence, like the person above, I am also looking the Midleton area.
 
Hi again. Sorry for answering my own post, but I think I found a listing - it's on the Financial Planning Standards Board website (I'm a newbies, so I can't post weblinks). It was difficult to find - I couldn't find a way to navigate to it via the site, but a Google search ("certified financial planner ireland list") pulled it up. I don't know how extensive a membership this grouping has in Ireland & whether it covers everyone with the qualification. I was a bit disappointed that a lot of the people listed work for financial or insurance institutions, which presumably means that they would not give independent advice.

I also tried the Society of Financial Planners Ireland website as it was mentioned another thread by one of its founders who appears to be a regular contributor to AAM - but I couldn't see a listing of qualified people there.

I guess I'll start with the list I did find & try to pick someone from that. Unfortunately nobody in Midleton though - will have to go to Cork city based on the addresses given.
 
The FPSB list isn't up to date. People on that list have moved and there are lots of qualified CFP's who are not on it.

Try City Life in Blackrock in Cork.

A proper financial plan takes a lot of time and is not cheap. Expect to pay anywhere from €1,500 to €5,000 for a comprehensive financial plan.

But what you do get, is a roadmap for your future. Can you afford to do the things you really want to do. What is the financial implication if you spend money on this instead of that. What do I need to do so I can achieve and maintain my desired lifestyle.


Steven
www.bluewaterfp.ie
 
Thank you Steven. Had a preliminary meeting with City Life on Monday & was pleased with how it went.
 
conastatu said:
Thank you Steven. Had a preliminary meeting with City Life on Monday & was pleased with how it went.
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Hello, I am thinking of going to City Life as well. Could you give a rough outline of the type of fees they charge for personal (non-business) planning?
 
It is quite amazing that the posters who are willing to pay don't run the figures, details, plans and policies via this website first. It's free and you never know what you might pick up in tips.

By all means go to a financial advisor and that is a good idea, but also be careful. Very careful.
 
It would be impossible to do a proper financial plan on this forum Bronte. Lifelong cash flows incorporate all assumed expenses for the rest of your life and use a number of different scenarios. A good plan takes me 20 hours from start to finish, usually including 3 client meetings.
 
SBarrett said:
It would be impossible to do a proper financial plan on this forum Bronte. Lifelong cash flows incorporate all assumed expenses for the rest of your life and use a number of different scenarios. A good plan takes me 20 hours from start to finish, usually including 3 client meetings.
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I realise that SBarrett. But there is no harm a poster running certain aspects on here. You know somehting like this - my advisor has recommonded x product at z cost to me, I'm married aged y and do you think it's a good idea.

I agree for a whole of life plan you'd need at least 20 hours and that is not going to be cheap, not if the advisor is charging properly for his time and not relying on selling products with all the downside to that as in incentives for financial advisors to sell certain products.

By the way it sounds like you do a thorough job so the posters looking for that might be advised to start with you. Everybody in any case should sit down every couple of years and see where they are going financially. I have my own financial plan for now to the 'end' on an excel.
 
Bronte said:
I realise that SBarrett. But there is no harm a poster running certain aspects on here. You know somehting like this - my advisor has recommonded x product at z cost to me, I'm married aged y and do you think it's a good idea.
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Yeah, I agree with that alright. Similar to that "is my life cover expensive" thread we were commenting on. How much is your cover and you can get an answer in two seconds!! :mad:

Steven
www.bluewaterfp.ie
 
A friend of mine who plans to put money into a low cost PRSA via an execution only broker was hoping to pay an independent financial adviser for an hour of their time to go over his questions/concerns. Could any AAMer recommend an adviser?
 
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He wants to pay someone for an hour of their time but not buy anything from them. Maybe things don't work like that, I dunno hence the query.
 
SBarrett said:
Why would an advisor give advice so he can go off and do it cheaper elsewhere?
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In exchange for money?

If an adviser or broker is making his nut on a kickback or a slice of the action, then I can't help but think of him as a salesman rather than my adviser. If an adviser gets paid a flat hourly rate, a share of my profits, and nothing else, then our interests are aligned and we can talk.

There's nothing personal in that, everything I've seen from you has been spot on. The world has made me profoundly hostile to conflicts of interest, and they seem to be endemic in this industry.
 
SBarrett said:
Who's talking about kickbacks?
Would you go to a mechanic and ask him to show you how to do something and then go do it yourself?
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I think most mechanics wouldn't refuse ten minutes of their expertise in exchange for an hour's pay.
I know some mechanics who will allow customers to supply their own parts (at their own risk). They will happily increase their labour rates to make up the lost markup/supplier discount.

Advice and execution don't necessarily need to go together, and separating them can remove conflicts of interest.
 
trasneoir said:
Advice and execution don't necessarily need to go together, and separating them can remove conflicts of interest.
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That's the nub of my query i.e. is paid for financial advice, without the prospect of execution, available. Not really seems to be the answer on this thread.
 
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