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Independent financial advisor dublin – What is Lifestyle Financial Planning?

What is Lifestyle Financial Planning? 

Independent financial advisor dublin

Independent financial advisor dublin

Lifestyle Financial Planning has become popular in the UK over the last number of years, mainly because of the changes brought about by the banning of commission for any investment products. With similar changes being mooted for Ireland shortly, more Financial Advisers will switch to this new model of financial advice.

Before the arrival of Financial Advisers, life insurance and pensions were sold by insurance salespeople, with very little attention paid to the suitability of the product for the end customer. This led to some serious cases of miss-selling and damaged the reputation of the life assurance industry in general.

About 25 years ago, in an attempt to clean up its reputation, the industry introduced the “fact find”.
This document ensured that the insurance salesperson had to obtain a minimum amount of information about the customer before they could sell them any product and that product had to be suitable to their needs in accordance with the facts gathered in the fact find. Although this went some way to improving the process, it didn’t stop the sell at all costs practices that were rife, brought about by the commission only system.


pearce financial planning

Lifestyle Financial Planning goes much further than the fact find. As well as gathering all the hard facts about someone’s finances, it also finds out what is important to the client, what type of life the client wishes to achieve in the medium term and after they stop working. Lifestyle Financial Planning will help the client to establish life goals and assist in achieving those goals, as opposed to finding a gap and selling a product to fill that gap.

A Lifestyle Financial Planner should carry out an in depth audit of your current financial situation, then, based on that information, produce a lifelong cash flow forecast. My experience is that this helps the client to understand its importance and empowers them to make the right decisions so as to ensure they can live the life they desire without the fear of running out of money. Some people find that they can actually enjoy a few more luxuries, whilst others may have to take action to improve their situation.

Once all this has been done, recommendations are made as to how best to arrange the client’s finances and investments in order to achieve their goals. This should be done on a fee basis only without charging commission to ensure unbiased advice is given. Once implemented, the service will include regular reviews. These reviews are essential as circumstances will change over time, as will your plans, and it is essential to continuously adapt the plan to any such changes.


Are you in need of an independent financial advisor dublin? Why not get in touch with Joe Pearce,


You can call him directly at: +353 (1) 298 1008 or email at:

For more information on Independent financial advisor dublin, why not contact Joe today?

Investment Advisors or Financial Advisers and Planners?

What is the difference between Investment Advisors or Financial Advisers and Planners?

investment advisors dublin financial
financial advisor dublin ireland

When considering who can best assist you to achieve everyone’s ultimate goal of financial independence, who gives better value for money, Investment Advisors or Financial Planners.

A recent article in the Huffington Post was quite certain in its opinion on this subject, namely that you are better off seeking holistic financial planning advice from a Financial Advise

They stated that an Investment Advisor normally only gave investment advice without taking into account the client’s circumstances and future financial and life goals. By contract, a Financial Adviser who gives comprehensive lifestyle financial planning advice concentrates on a wide number of areas which are important factors in the client’s medium and long term financial plans towards achieving financial independence, specifically:

  1. Financial Analysis including a report on your current financial situation and forecasting of your cash flow into the future.
  2. Budgeting to assist you in achieving your financial goals
  3. Advice for SME owners in relation to their employee benefits
  4. Advice for SME owners on the most tax-efficient exit from their business
  5. Investment advice and planning
  6. Tax planning
  7. Retirement planning
  8. Estate planning

This analysis by the Huffington Post is accurate. Investment Advisors will normally ask you a few questions about your investment goals, will calculate your risk tolerance and then recommend a portfolio from a number of off the shelf portfolios which they normally recommend to their clients.

A good Financial Advisor who practises Comprehensive Lifestyle Financial Planning will indeed give you investment advice, but it will only be a small part of their service, which is to give you holistic financial advice based on you, your circumstances and your life goals with a view to you achieving total financial independence, this being able to live the life you want without the fear of running out of money. As an existing client, the Financial Adviser, who should be fee based will transact your investment needs for a fee which is only a fraction of that paid to commission based investment advisors.


Get in touch today – Click here 

Financial Advisors in Dublin

Phone: +353 (1) 298 1008

A1, Nutgrove Office Park,
Meadow Park Avenue
Dublin 14,