Most of us lead busy lives and must juggle multiple priorities and demands on our time. However, at the end of the working day, each of us is responsible to our families for making the decisions that will determine whether we will achieve our financial dreams.
To do so successfully, you need what the head of every successful company has: a sound understanding of the challenges you face and a comprehensive approach for addressing those issues.
However, being a stranger in a strange land can make this process even more complicated.
Let's look at some of the key things you need to consider...
For people living in Ireland we believe that there are five major areas of financial concern:
None of these five areas of concern stands in isolation from the rest. To be most effective, you need to deal with each area systematically while maintaining an integrated approach to your overall financial picture. We call this comprehensive financial planning.Find Out More
As you may have noticed, many financial firms these days say that they offer wealth management and financial planning services.
The challenge for you is to ensure that you’re not just being sold investments or protection products. Instead, you require comprehensive financial planning that recognises your specific circumstances. This requires particular attention; whether for example it’s co-ordinating pension benefits in multiple jurisdictions or where best to purchase and retain assets.
Our Managing Director, Marc Westlake has first-hand experience of these challenges, having moved to Ireland from UK in 2008. As a Chartered Financial Planner, Marc has extensive experience advising clients in both the UK and Ireland, and uniquely understands the challenges of foreign nationals in Ireland.
We define comprehensive financial planning as
Comprehensive Financial Planning = Investment Consulting + Advanced Planning + Relationship Management
The list of potential issues and solutions is long, and many solutions are quite complex. You should conduct a methodical financial-planning process that includes these steps:
Each step is carefully constructed to uncover and then address the specific challenges that you face.