I started my working life in 1998 and as an advisor in 2000. This was about the time when disclosure regulations came in and financial advisors had to disclose the commissions they were being paid by insurance companies. Back then, advisors took 50% of the first years contribution as commission for pension plans. I had […]
The odd time I get a call from someone enquiring about a pension, investment or risk benefits. They are a bit standoffish and by experience you know they are looking for free advice before they go off to do their own thing. They think if they go directly to the insurance company, they will get […]
I was updating our Conflicts of Interest policy today and it got me thinking of how the financial advisors compare to other industries when it comes to conflicts of interest. First of all, I’ll start by outlining our own policy. Bluewater’s potential conflicts of interest We may receive commission from a provider which business is […]
On 22 July 2013, I posted my first blog on this website. Here we are just over 4 years later, posting my 200th blog post. So this week, I am going off topic and I am going to talk about blogging and whether I have found it to be beneficial. Library of Information People ask me […]
The screen on my iPad cracked and I needed to get it repaired. I wanted somewhere close to where I work in Sandyford and Expertech in Foxrock was recommended. I gave them a call and the guy giving me the quote told me that they wouldn’t be the cheapest price out there. I didn’t want the […]
Speaking to a lot of people over the years about personal finance, not everyone needs or wants to use a financial advisor. You can generally be classed in one of three different categories. These categories can apply to almost everything. DIYers The DIYer is happy look after their personal finance themselves and can’t see the […]
The Central Bank published their Review of the residential mortgage lending requirements last Wednesday. This was a review of the mortgage lending restrictions that they introduced in January 2015. They were under a lot of pressure from all sides to review these rules and make changes to them. The biggest change is the 10% deposit for […]
Buying a new home is a very emotional time for people. It is such a huge event, especially for first time buyers who are going to get their own place for the first time. The problems arise when you try to get a mortgage. It’s not easy. The banks hold all the cards and they […]
The Central Bank published a Discussion paper on the payment of commissions. They are looking for people’s opinions on the payment of commission to intermediaries. This is a topic that is always hotly debated. I am going to look at some of the problems with commissions and some solutions. The problems with commissions 1. Too […]
This week, the Central Bank issued their Consumer Protection Outlook Report for 2016. It is always interesting to read what concerns the Central Bank regarding the advice given to people and what areas they are going to target for their inspections during the year. Cultural Changes The Central Bank see the absence of a consumer […]