Complexity Does Not Add Value When Investing
I had quite a reaction to Peter’s story last week, so much so that I thought I would look a little more deeply at the questions it raised and specifically at how a life company can afford to pay an intermediary €27,300 for Peter’s business. In so doing, I am touching on just one of the many conflicts of interest that are a feature of the financial services industry.
Increased Standards in Financial Services Start With You
I came across a case two and a half years ago that crystallised my view that the financial services industry is made up of product sellers acting in their paymasters interests in the first instance. Let me tell you about Peter, who got a 20-minute meeting with a broker about one of the most important decisions in his life. Nothing has changed in my mind since then. Stick with this, it’s a long one today.
Beat the stockbroker at his own game
You may have noticed the absence of The Sunday Supplement on Sunday morning. We had a technical glitch, so here it is two days later! This week I explain why the stockbroker model for long term investing is flawed. If you have shares, or want to invest in shares, there is a far more fundamental thing you need to do before you open an account with one of the stockbroking firms in Dublin 2.
Lost at sea
- September 2, 2017
- Bob Quinn
I talk a lot about the importance of clearly understanding your objectives when it comes to effectively managing your financial affairs. Sometimes though, we cling to a goal without really thinking it through. We may not give any thought to what achieving this goal will actually do for us. This morning I’m sharing a simple story I came across, which illustrates the benefits of thinking through goals.
Intergenerational tax bills are an actual thing. Do something about yours.
Have your parents talked about leaving money to your children? Perhaps you’re a (young) grandparent yourself and are thinking about how you might help your grandchildren on their way. This week’s supplement suggests a way to make sure the grandchild benefits more than the taxman. If you have any questions, get in touch with me tomorrow.
Two dates for your finances
There are two dates that are on my radar in the next 80 days – and no, they are not my wife’s or mother’s birthdays. As a business owner or senior executive, you should also have them marked in your mental calendar because if you don’t get your act together, you and your family could lose out.
Reduce the possibility of investment losses by making this one change
Have you ever lost money on an investment? How did you react? Today I’m going to talk about the inevitability of losses, how to minimise them and one good thing that can come out of declaring a loss.
Top six questions you need to ask before you invest
Have you ever been on the receiving end of an investment proposal, whether it was at your behest or the banker or broker’s? You’re not alone if you came out of the meeting kicking yourself for not asking all the great questions that were an afterthought.
This morning, I’m giving you an investment checklist; the questions you should get answers to before making a decision about an opportunity.
Run for the hills when you pay off your mortgage
As AIB introduces Máire, another happy person who’s made it to the end of her mortgage, I wonder what the transition will be like from having no choice over where that money is going to having total discretion. Having been tied to a bank for 20 plus years, I only hope she hasn’t developed Stockholm Syndrome.