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Goodbody/ISEA INFORMATION EVENING OCTOBER 2014. MARIA ANGELES PONS Financial Planning Manager  Introduction/Welcome October 2014 Goodbody/ISEA.

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Presentation on theme: "Goodbody/ISEA INFORMATION EVENING OCTOBER 2014. MARIA ANGELES PONS Financial Planning Manager  Introduction/Welcome October 2014 Goodbody/ISEA."— Presentation transcript:

1 Goodbody/ISEA INFORMATION EVENING OCTOBER 2014

2 MARIA ANGELES PONS Financial Planning Manager  Introduction/Welcome October 2014 Goodbody/ISEA

3 URSULA TIP President ISEA  Introduction/Welcome October 2014 Goodbody/ISEA

4 DERMOT O’LEARY Chief Economist Goodbody  Economic Prospective October 2014 Goodbody/ISEA

5 Spain & Ireland Europe’s growth beacons? Economist: Dermot O’Leary Tel: +353 1 641 9167Email: dermot.c.oleary@goodbody.ie 23 October 2014

6 The euro area crisis – the never-ending story? Spain & Ireland – brothers in arms Ireland – Europe’s growth beacon Budget 2015 – Growth allows prudence to slip 6 Agenda

7 From sovereign crisis to deflation concerns 7 Greek Bailout I Irish Bailout Portugal Bailout Greek Bailout II Draghi – “Whatever it takes”

8 8 Growth disappointing expectations

9 9 France & Italy are the culprits

10 10 Current a/c positions in the euro area

11 11 Rebalancing Act

12 12 Becoming competitive again

13 13 External assistance required

14 14 Ireland – Europe’s growth beacon

15 15 Government debt levels remain high

16 European crisis is not over, but concern is very much focused on France & Italy – there is value in an economic adjustment programme Fiscal leniency bargain in return for structural reforms ECB is likely to respond with further action, but will likely fall short of full-blown QE Stress tests will be important milestone – particularly for Spain and Ireland In Ireland, a broad-based and sustainable recovery now in evidence Danger that fiscal policies will be determined by politics rather than economics “We all know what to do, we just don't know how to get re-elected after we've done it”, Jean- Claude Juncker 16 Key conclusions

17 ALISON MANLEY Director of Product Solutions QIAIFS October 2014 Goodbody/ISEA

18 Everyone is moving to Ireland Alison Manley 22 October 2014

19 What do these properties have in common? 19

20 QIFs become QIAIFs Qualifying Investor Alternative Investment Fund Tax efficient investment vehicle, particularly for real estate. Few investment restrictions. Non-Irish resident investors receive their gains gross. Regulated by the Central Bank of Ireland. Subject to the European Alternative Investment Management Funds Directive. 20

21 Alternative Investment Fund Managers (AIFM) Investment Managers Legal Advisers Tax Advisers Administrators Custodians Valuation Agents Auditors Company Service Providers Property Managers Regulators Dublin is a global centre of expertise QIAIF service providers 21

22 Alternative Investment Fund Managers (AIFM) Investment Managers Legal Advisers Tax Advisers Administrators Custodians Valuation Agents Auditors Company Service Providers Property Managers Regulators Dublin is a global centre of expertise QIAIF service providers 22

23 22,000 The number of people providing services to funds €2.9tr The total net value of funds administered in Ireland 40% Ireland’s market share of AIF administration 1,848 The number of QIAIFS regulated in Ireland €1.7bn The gross value of property assets we manage in QIAIFs Some big numbers 23

24 BRENDAN MCGINN Director of Pensions Pensions October 2014 Goodbody/ISEA

25 Goodbody and Pensions ISEA October 2014 Brendan McGinn, Director of Pensions

26 Trends Funding levels increasing. – Tax shelter or replacement income? Property back on the agenda IPUT REITs Direct DB schemes – Closing – Voluntary transfers out of Defined Benefit schemes by former members Overseas transfers. Social Welfare pensions 26

27 Goodbody Pensions Business Wish list Budget 2015 – Stability – Certainty – Removal of levy Re-establishment of trust?

28 28 Pillars of retirement provision 1. State Pension (Contributory) 2. Private pension 3. Savings & investments 4. Earned income in retirement

29 Service to pension clients Small Self Administered Schemes/ARFs Investment management, reporting and tax compliance services as an approved Pensioneer Trustee and Qualifying Fund Manager Personal Retirement Savings Account Goodbody Stockbrokers are approved by Pensions Board and Revenue to provide a non standard, self directed portfolio based PRSA Self Directed Pensions Through our product alliance with Zurich we provide the full range of Self Directed insured pension products for Self Employed, Directors, PRSA, Buy Out Bonds, ARF and AMRF own

30 OWEN REDMOND Head of Financial Planning Financial Planning October 2014 Goodbody/ISEA

31 Goodbody Financial Planning Current trends in financial planning:  Safeguarding current & future income  Assets  Income protection  Life cover  Pension provisions  Education Funding for 2 nd & 3 rd Level fees  Managing “Tax Alpha” – this is the yield added to your investment return by good tax management.  Deposit vs Gross roll up  Direct holdings (Capital Gains) vs Fund (Exit tax)  US ETF vs European ETF  Pension vs Personal

32 Goodbody Financial Planning Current trends in financial planning:  Asset migration  Annual Gifts to beneficiaries – A couple can pass €6,000 per year  Over 10 years the €60,000 could be worth c.€68,780*  If passed outside a structured plan the Gift tax would reduce this by c.€22,690  Inheritance Tax management  Lifetime tax exempt limits have fallen  High (2009) - €542,544  Currently - €225,000  Tax rate has increased from 20% to 33% *Growth rate of 3% net of costs rolled up to year 10

33 October 2014 Goodbody/ISEA

34 Questions ?

35 Thank you

36 REFRESHMENTS & TAPAS Enjoy!!!


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