Financial Service Provider
Learn More About Us
Moneywise:
A Financial Service Provider With A Trusted Reputation Built Over 50 Years
Our Background & What We Do:
A Reputation For
Telling It Like It Is
Moneywise celebrated its 50th year in business in 2022 (trading as Owen Morton & Associates from 1972 to 1990). Moneywise enjoys and is protective of a reputation for “telling it like it is”. We are a boutique provider of financial service to a small cohort of clients. We have a focus on the financial needs of small business owners and investors in pension funds, pre and post retirement. The ARF market is a core activity and specialty. Moneywise also holds the Revenue-appointed Pensioneer Trustee status and offers Small Self-Administered Pension Schemes to a small number of customers.
Our service package includes periodic reviews at mutually agreed and remunerated intervals. Some clients are happy with an annual report; others seek monthly updates. Ireland operates a high taxation regime in the asset accumulation; tax planning is central to all interactions. The two current executive directors, Alan & Richard Morton, have almost 40 years’ experience of managing personal, company and pension monies with the company. We are committed to best of corporate and social responsible practices and donate generously each year to various charities. We are unashamedly a “lifestyle” business. We are not about maximising profits and building up the value of the business for a future disposal.
Our investment approach tends to be conservative. In our experience, the fear of losing money is a stronger impulse than achieving large profits. We are not convinced that recent moves to Multi Asset Funds based on a short risk profile questionnaire will serve investors well over time. A patient and disciplined approach to investing is central. To borrow from a former UK Prime Minister, our investment philosophy can be summed up in three words: “Diversification, Diversification and Diversification”. We promote investing in asset appropriate to the timeframe involved, always keeping in mind the occasional potential for asset price bubbles. We tend to favour passive investments as opposed to active. The earliest timeframe for investment is 5 years. Otherwise monies should stay on deposit, even if rates are close to zero. Moneywise turned away significant new lump-sum investment business in 2017 due to unfavourable taxation and market conditions; and continues to do so into the present day.
Services Provided
We will offer advice on a fair analysis basis in relation to all classes of insurance policies. This means we will research the market place and providers and recommend the best product to suit your own needs, based on the information provided to us by you.
We will identify and select a suitable product producer and on receipt of your instructions we will transmit orders on your behalf to one or more product producers (a list of which is available on request).
This firm does not have ‘tied’ relationship with any institution that would compromise our ability to offer you advice and choice.
The services which the firm is authorised to provide are advising you in relation to the nature of each of the products set out below and advising you as to which product is suitable for your needs.
- Identifying and selecting a suitable product producer;
- Receiving and transmitting orders on your behalf for a product(s) to one or more product producers.
- The products for which Moneywise has appointments to act in relation to are all life assurance products and these include life assurance policies, specified serious illness and other protection type policies, pension policies (including PRSAs), savings plans, tracker bonds, deposits, investment life assurance policies shares in a company that are listed on a stock exchange, prize bonds and units or shares for collective investment schemes including unit trusts and UCITS.
Remuneration & Fees
Moneywise Financial Planning Ltd. is remunerated by a professional fee for the work and time spent in seeking the best terms, advice, product and product producer for your specific needs.
We are usually remunerated by commission payment received from the product producers for the work involved in placing business and finalising the product with them on your behalf. We also offer a fee-based remuneration service for those who prefer this method, costing €250 plus VAT per hour.
We reserve the right to amend these fees should the complexity of the advice or product require a higher fee. We will confirm and agree this fee with you prior to any increased charge being applied.
Where Moneywise Financial Planning Ltd is remunerated by receipt of commission, full disclosure of the commission and/or fees payable will be provide to you in writing in advance of any business written. It will also be a central aspect of the Statement of Suitability. This is a legal requirement for all transactions.
Conflicts of Interest
It is the policy of the firm to avoid any conflicts of interest when providing business services to its clients. However, where an unavoidable conflict may arise, we will advise you of this in writing before proceeding to provide any business service. If you have not been advised of any such conflict you are entitled to assume that none arises.
Vulnerable Clients
Moneywise operates very strict and ethical policy in relation vulnerable clients. Family members and/ or close friends or legal advisers are brought into the process of managing the client’s financial affairs.
Why Trust Us?
A Financial Service Provider With A Difference!
We offer full transparency on coats and seek to provide, and be seen to provide, value for money. In an industry not well established at timeliness, this is a big part of what we are about. In short, we come back to your queries and service requirements in a timely manner. Honesty in all of your dealings with the company is a given. Trust can only grow over time; and our promise to act with integrity in every aspect of the business tends to generate trust quicker than might be expected.
