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Presentation on theme: "Goodbody/ISEA INFORMATION EVENING OCTOBER 2014."— Presentation transcript:


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

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

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

5 Europe’s growth beacons?
Spain & Ireland Europe’s growth beacons? Economist: Dermot O’Leary Tel: 23 October 2014

6 Agenda 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

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

8 Growth disappointing expectations

9 France & Italy are the culprits

10 Current a/c positions in the euro area

11 Rebalancing Act

12 Becoming competitive again

13 External assistance required

14 Ireland – Europe’s growth beacon

15 Government debt levels remain high

16 Key conclusions 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

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

18 Everyone is moving to Ireland
Alison Manley 22 October 2014

19 What do these properties have in common?

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.

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

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

23 Some big numbers 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

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

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

26 Funding levels increasing. Property back on the agenda
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

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

28 Pillars of retirement provision
4. Earned income in retirement 3. Savings & investments 2. Private pension There are four pillars of provision to deal with this income drop: The State Pension (Contributory) Private pension provision Personal savings and investments Earned income in retirement, where individual works for a period, possibly part time, in retirement. 1. State Pension (Contributory)

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

31 Goodbody Financial Planning
Current trends in financial planning: Safeguarding current & future income Assets Income protection Life cover Pension provisions Education Funding for 2nd & 3rd 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 Goodbody/ISEA October 2014

34 Questions ?

35 Thank you


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