Financial planner - recommendations

James5

Registered User
Messages
22
I'm looking to hire the services of a financial planner for the purpose of;
- assisting me with defining & prioritising my short & long term financial goals
- reviewing my current & projected financial health (cashflow modelling & analysis) to identify gaps/weaknesses
- identify opportunities to optimise my current savings & investments approach

I've briefly looked at AskPaul & Moneycoach.ie & both seem to offer mostly similar services. I could see potential pros & cons of both in regards to communication style, pragmatism, fees etc but I haven't yet employed the services of either to judge properly. To help me decide between the two, has anyone here experience of employing the services of either & would you mind sharing your experience with me directly via direct message please?
 

Sue Ellen

Moderator.
Messages
8,617
To help me decide between the two, has anyone here experience of employing the services of either & would you mind sharing your experience with me directly via direct message please?

Please refrain from making this type of private message request as it is far better that contributors avail of this type of experience/advice also and it prevents further spam.

Key Post: where can I find an Independent Financial Advisor

This previous thread might give some general advice also The risks of going to a financial advisor
 

ClubMan

Registered User
Messages
45,797
You could always also submit a "money makeover" post here to get some comments/food for thought in advance of or in addition to seeking individual professional advice...

 

Beyond our Ken

New Member
Messages
1
My first post on AAM is to recommend a financial advisor familiar to this parish - Marc Westlake of www.globalwealth.ie - as it was thanks to this forum that I first came across him.
Nearly two years ago I sat down to plan what's left of my future - I was approaching retirement and in the process of selling my limited company which carried with it a substantial amount of accumulated profits.
I had meetings and 'phone calls with a number of financial planners all of whom seemed very similar - displaying a willingness to blind me with acronyms, a reluctance to be upfront about exactly what the costs were and what their vested interest was in promoting certain products along with, on at least one occasion, an ignorance about current financial and Revenue guidance that was almost as poor as mine.
I chanced upon this website and was impressed with Marc's obvious knowledge but also because, like me, he's a UK blow-in in similar circumstances.
We set up a one-hour Zoom call and from that point until today Marc, liasing with my accountant, has guided me through the whole process of setting up a company pension which is exactly the tax-efficient and sensible retirement planning I was looking for.Even after a nasty bout of Covid which nearly killed him he was back on my case within a matter of weeks.
I like dealing with him because his advice is research-based and essentially risk-averse as well as being totally upfront about his agreed fee which was very reasonable for the amount of money, work and knowledge involved.
My accountant - who has a finely-tuned spoofer antennae - was also sufficiently impressed to recommend other clients to him.
Full disclosure - Marc has no idea I'm writing this and we've never actually met in person which, with today's technology, really isn't necessary.
 
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Aoibheann

Registered User
Messages
10
I'm looking for recommendations for a financial adviser/planner for a family member who is taking voluntary redundancy. He is currently looking for another job. He is single, in his mid 40's, lives in rented accommodation, doesn't own any property and hasn't any debt. He has some other savings in a deposit account, not sure how much, but enough to keep him afloat for a couple of months. In essence he needs advice on what is in his best interest to do with the money he gets on voluntary severance - €62,000.

The advisers mentioned above all seem to cater for relatively wealthy individuals not people of modest means like my relative.
 

cremeegg

Registered User
Messages
3,888
I'm looking for recommendations for a financial adviser/planner for a family member who is taking voluntary redundancy. He is currently looking for another job. He is single, in his mid 40's, lives in rented accommodation, doesn't own any property and hasn't any debt. He has some other savings in a deposit account, not sure how much, but enough to keep him afloat for a couple of months. In essence he needs advice on what is in his best interest to do with the money he gets on voluntary severance - €62,000.

The advisers mentioned above all seem to cater for relatively wealthy individuals not people of modest means like my relative.
Unfortunately your family member has few options. The return on money invested with out much risk is effectively zero.

After any income tax on the severance pay your relative will not need to pay tax, so tax planning is not relevant.
 

Aoibheann

Registered User
Messages
10
He was wondering if he should buy an AVC or put it into his current pension (if that's possible) or if there is something apart from An Post saving bonds/certs where he could invest the money. He's interested in investing it for his future and isn't totally risk averse. He cannot see himself able to afford to buy himself a home in the foreseeable so he'd prefer to potentially maximise his income when he retires.
 
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