Wealth Management Summer 2018

As regular readers will be aware, we try to avoid paying too much heed to short-term market fluctuations. Our longer-term outlook remains positive, with global equity valuations being supported by another relatively strong corporate earnings season. There are, as always, issues which may cause volatility over the coming months – not least the potential for a trade war between the US and the rest of the world. Nevertheless,we remain focused on building high quality portfolios for clients which are designed to be able to weather the short-term gyrations of global markets and deliver performance over the medium to long term.
On the theme of taking the long-term perspective, our Head of Investment Strategy Ian Quigley certainly doesn’t mince his words on page 12; Ian reiterates our core message that our clients should take advantage of their ability to take a long-term investment view. In a related piece on page 32, Ian’s colleague on the Strategy team Daniel Moroney writes about how investors can be distracted by self-appointed experts obsessing about headline-grabbing events. We are also delighted to feature Investec Wealth & Investment’s Head of Collectives Research Andrew Summers, who tackles the hot topic of ‘passive vs active investing’ on page 4. On page 24, our Head of Tax & Financial Planning Andrew Fahy gives an overview of the ‘quirky’ tax treatment of the various investment structures in Ireland. On page 28, Andrew’s colleague on the Financial Planning team Brian Kingston highlights the important issue of Company Directors Insurance; an area that is often overlooked by business owners.

We address another important area on page 8, where Louise Savage discusses the particular financial planning challenges that are faced by women – not least the longevity risk that comes with women having a longer life expectancy than men. On page 16 our Chief Economist Philip O’Sullivan reminds us that Ireland’s recovery over recent years was not widely predicted just a few short years ago. Frances Daniel from the Specialist Lending team demonstrates how we can assist returning expats, many of whom have encountered some difficulty in securing finance for property purchases prior to returning home (page 20). Justin Doyle from Investec Treasury gives a fascinating overview of the ‘carry trade’ in currency markets on page 26.

Finally, as the GAA Championships really start heating up, we were delighted to have the opportunity to sit down with Dublin footballing royalty, in the shape of Bernard Brogan. Bernard gave us a fascinating insight into how a player adapts their game as they approach the latter stages of their career, and also how he is building a business in preparation for life after football (page 36).
I hope you find this edition an engaging read; as always, get in touch with your questions, opinions and feedback.

Download our PDF here.