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Informed Decisions Independent Financial Planning & Money Podcast

If you are looking for Independent voice on Investing, Retirement Planning & Financial Planning Podcast in Ireland, you may have just found it! Join me, Paddy Delaney as we talk straight and steer you towards a better financial future. Take control of your financial future and develop successful habits with your money. Join Paddy Delaney on Ireland's award-winning Personal Finance & Financial Planning Podcast & Blog. He aims to cuts through the sometimes confusing jargon of financial products and services, to help you make informed financial decisions, for you........No nonsense, straight up fact, and a little bit of a laugh at the same time! The Podcast is on a mission to enable it's listeners provide themselves with better financial futures, and ultimately to make a positive difference in the lives of listeners. Thanks so much for checking out the show! You can get in touch by email: admin@informeddecisions.ie Paddy Delaney Qualified Financial Advisor Qualified Retirement Planning Advisor Qualified General Insurance Practitioner Qualified Executive Coach
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Now displaying: Page 1
Oct 8, 2018

If you have ever invested money in a fund or collective fund with a 3rd party, either through a pension or through an investment structure (product or platform) you will most likely have already completed a 'Risk Questionnaire' or 'Risk Survey'. It may have formed part of the bigger conversation about your investment goals, or it may have been the sole basis on which you made your investment decision. If it was the latter than there may be cause for some concern.

Welcome to Ireland's only dedicated and straight-talking Personal Finance Blog & Podcast, and thanks for reading! If you want to gain some insights about money, hear from some super guests and to help yourself to make financial decisions which benefit you, then you are in the right place! We are always keen to hear from readers so please do send me a mail with any ideas, suggestions or feedback, you can mail me here.

The Conflict:

If an individual seeks financial guidance they generally do so in good faith that the person they seek it from will have their best interests at heart. In a recent interview with Eric Brotman we explored what the term Fiduciary meant, and it means. In essence it relates to the relationship between a financial advisor and a client as being one established on trust, and where the advisor is bound by a responsibility to act in the best interests of a client. That is to say that they place the client's interests before their own......which for many people in Ireland will seem like a strange idea.

When we seek any help, whether it is to buy a car, have some domestic appliance fixed, book a holiday, visit a physio, hire a painter, as a nation we expect that the person(s) providing the product or service to be acting in their best interests and will perhaps try to sell us or charge us more than may perhaps be strictly necessary.....it is a cultural thing, perhaps in every corner of the globe.

To suggest then that a 'financial advisor' would not act in their own best interests, to act in a fiduciary manner, seems almost alien, and totally counter-intuitive! Yet this is a formal means of working for a small yet growing population of financial services professionals in the US. I, for one, am looking forward to the growth of such a population in Ireland....perhaps it starts right here.

Need Versus Wants:

You are perhaps wondering what any of this has to do with Risk Questionnaires, thanks for bearing with me. Lets image a scenario where you are a 60 year old with €250,000 sitting in deposit accounts but who now needs to generate an income of €15,000 per year (6% of fund) from your investment in order to pay for the lifestyle you maintain. In addition you want to have that income increase in line with inflation each year, your circumstances demand it.........Listen to hear more!

Or check out our Blog here.

Thanks,

Paddy Delaney

QFA | RPA | APA | Qualified Coach

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