Frequently Asked Questions
There are several definitions for financial planning, and many advisors work to different frameworks, depending on what suits a) their style of work and b) the financial needs of the client.
At Walfrid Private we are dedicated to helping our clients identify whether they are receiving or need to receive financial planning services. We simply call it the formula for financial planning.
We believe that financial planning, when done correctly to optimise your finances, needs to be based on facts, but also includes a conversation on your feelings about money.
In addition, conversations around financial stability and peace of mind around items such as protecting loved ones, protecting your income and protecting your legacy are critical elements that need to be woven into the financial planning stage of your wealth management journey.
Walfrid Private does not prepare taxes because we want to be dedicated all year round to the financial planning needs of our clients. As changes occur in the financial lives of clients, it is important to compare and contrast the impact taxes will have on relevant financial decisions. By utilising your previous year’s tax return, we can run what-if financial scenarios on our planning software.
While we don’t offer this service, we can recommend other trusted service providers, based on your needs as a valued Walfrid Private client.
We believe that client review meetings are equally as important as the initial financial consultation. We start every review with a wealth management update. We’ll ask questions about any financial circumstances or issues that that have occurred. Hopefully all of your financial information will be aggregated through our Wealth View program by your first review meeting. This will allow us to have up-to-date information on all aspects of your financial journey and we can be prepared to offer expert financial feedback to you.
Additionally, we will review the overall asset allocation, risk tolerance, performance and projections designed to help you achieve your financial goals. Most clients tell us that each time they visit the office they not only learn something more about their personal finances, but they wish they had begun a relationship with us much sooner.
At Walfrid Private the number of meetings and reviews is left to the discretion of the client. Oftentimes we find that clients prefer to meet 2-3 times during the first year, and then 1-2 times in years that follow. However, every client is different and every financial plan is tailored, so we work with clients to find what suits them best. Clients usually prefer the opportunity to meet rather then the obligation to.
Our contact management system insures that we schedule an appointment with you at least annually so that we can both review your personal financial state, and also learn about fiscal changes that may have occurred in your life and have an impact on your overall wealth management journey.
There are a range of efficient ways to manage tax for professional services. We will advise you on the most tax efficient options to suit your financial needs and objectives.
From your first deposit into your account, the financial performance of your investment account is maintained. We can produce performance reports for any time period you’d like and measure your account against several benchmarks of financial success and prosperity that align with your personal finance goals, whether that be early retirement or securing the best pension in Ireland, we work with you to maximise your wealth.
Your financial portfolio is independently examined at a minimum of twice annually. Areas such as rebalancing considerations, tax strategies, and continued alignment to your overall investment objective are part of this financial examination. Throughout the year, your portfolio may experience changes in allocation or holdings as Walfrid Private consider new additions, replacements or removals of funds from client portfolios, always keeping your financial wellbeing at the forefront of our strategy.
If you want to grow, maintain or reimagine your portfolio, get in touch here (HYPERLINK) to speak with one of our experts.
Your ongoing financial wellbeing is important to us so performance is tracked daily. Portfolios are rebalanced on a quarterly basis.
Clients often ask how we’re able to manage so much money AND maintain such personal relationships with our clients. We are able to do it because of the strength and expertise of our financial planning team and portfolio managers.
The Walfrid Private research process allows us to custom construct financial portfolios. In addition, we can include exchange traded funds, stocks, and individual bonds. As independent representatives we are free to select from companies that best serve our client’s interests without showing favouritism to any one specific provider. Your financial interests are at the heart of our research protocols.
After the completion and presentation of a comprehensive financial analysis and bespoke plan, clients may choose to hire Walfrid Private as investment advisory representatives. Those who do will continue to receive ongoing updates, regular monitoring and periodic reviews that address their overall financial objectives. We do not accept investment advisory clients without first knowing our client’s overall financial situation. This allows us to truly place the client financial interests first and align with our company ethos and code of ethics.
Unfortunately, this is not a service that Walfrid Private supplies. We are committed to the full journey of wealth management on behalf of our clients. Without initially capturing both a snapshot of a client’s financial well-being, as well as a clear analysis of financial goals and objectives, we don’t believe the client can get the most out of our services.
Unfortunately, we’ve witnessed too many advisors focus first on YOUR INVESTMENTS before ever considering how they weave into your overall financial circumstances. We believe this approach is quite dangerous, and oftentimes leads to changes to your portfolio that could have been avoided had the advisor better known your overall financial objectives first.
We are a fully integrated financial service advisory firm, so we believe in fully integrating your finances to optimise your financial state and prosperity.
Walfrid Private above all else is a dedicated financial advisory firm. We are committed to delivering the same depth of analysis and reporting to clients throughout our journey with them that we develop for an initial financial plan. We regularly review and update the progress of your goals and make financial advisory recommendations as needed. In addition, our clients continuously turn to us for advice on the following throughout the duration of their wealth management journey.
Topics that frequently come up include; advice and analysis on larger purchases, refinancing, mortgages, reallocation and management of retirement and pension funds, corporate benefits such as stock options and ongoing analysis on estate planning and life, disability and long term care insurance.
We are 100% committed to the lifelong journey of our clients and their financial wellbeing.
Step 1: Each client relationship is unique, yet in general, we first construct a comprehensive net-worth statement that details assets and liabilities as well as ownership of each item. Other financial documents may be prepared depending on the financial circumstances of the client e.g. cash flow statement. We do this to insure that our analysis is based on quantified financial data and our understanding that your financial snapshot is accurate.
Step 2: Our findings e.g. your net worth will be sent to you for your review prior to more detailed financial analysis.
Step 3: Upon receipt of your approval of the net worth statement, we will begin our comprehensive financial analysis which will include a review of multiple documents. Each case is unique so documents may include but not be limited to; previous tax returns, pay slips, benefits booklets, investment, retirement and bank statements, insurance documents and more.
Step 4: During the second stage of the financial analysis phase, we will identify your monetary strengths and your areas of financial vulnerability. Each area will be reviewed, with supplied feedback if needed. In addition, using advanced financial software, we will develop models, projections and what-if scenarios that showcase how likely you are to achieve your personal finance goals.
Step 5: The findings from analysis are compiled into a fully comprehensive financial plan and recommendations, which you may activate yourself. It’s important to note that you are under no obligation to implement any financial planning strategy through our office. As multi agency intermediaries we are obligated to deliver an objective representation of your financial situation and empower you with a financial and investment based road map that can be implemented anywhere you see fit.
Step 6: At this stage, financial plans are presented to the client at our office or a location of the client’s choosing. You should allocate 1 – 2 hours for our highly interactive financial presentation. Many of our strategies are presented through our state of the art wealth view software program which allows us to play what if scenarios while we collectively discuss your financial situation. We utilise a combination of financial planning software, spreadsheets, research and our personal expertise as tools that guide us towards our financial recommendations for the future of your wealth.
Step 7: The final stage is implementation. At the conclusion of our financial planning presentation you will be provided with an actionable financial plan tailored specifically for your needs. This document will serve as a timeline and guide that prioritises items of importance and issues you need to consider for moving forward in your wealth management journey.
Walfrid One is our state of the art, fully integrated financial planning software system.
All clients who, after completing a financial plan and maintain advisory accounts are eligible to participate in our single-access point, integrated software.
This web-based, highly secure solution allows clients to view their overall net worth on a single page, while having their financial data updated automatically on a daily basis. Access to investment reports, financial planning progress, realised gain and loss statements and snapshots of your insurance and liabilities are accessible at your fingertips.
A fully integrated, comprehensive and simple to use financial planning system, Walfrid One is like nothing else on the market.
The Walfrid Private formula of financial planning is in-depth but mainly focuses on the belief that in order for someone to say they received financial planning, the client must feel confident that their financial planner:
- Asked questions about their financial goals, challenges and successes (we call this discovery)
- Explored how effectively the client has elected to protect their family, their health, their life and their legacy (we call this capital protection)
- Discussed issues that impact the quantitative elements of their financial life with particular attention to how changes in cashflow, market volatility, inflation and other factors will impact the client’s expectations and personal finance goals (we call this wealth management)
Most financial advisors provide advice on the following areas:
- Investments – monetary or assets
- Insurance and associated financial risk factors
- Model portfolios
Some financial advisors may create a financial plan or roadmap for clients taking their goals (financial independence, retirement planning etc) into consideration along with associated risk factors. Often financial advisors will look at one or two areas of a clients finances.
At Walfrid Private we do so much more. We like to look at every area of your financial wellbeing and plan to maximise with you and reach your financial goals in a realistic way. We do this using smart technology, investment approach and cashflow modelling.
We look at everything, including but not limited to:
- Your cashflow and liquidity
- Your debt and relevant risk appetite
- Economics & investments landscape
- Retirement options and pension planning
- Education planning and estate planning
- Charitably giving
- Retirement relief
- Entrepreneur relief
- Business relief
Professional advice from an experienced, well-informed adviser can help people save money, protect against risk, manage debts, grow assets, reduce tax liabilities, plan for early retirement, identify entitlements for government benefits, and plan what inheritance is to be left to the next generation.
The Walfrid Private six step process to financial planning is implemented with all clients when they work with our qualified financial experts:
- Gather all relevant financial information from the client – income to pension and everything in between
- Identify lifestyle and financial goals with the client
- Identify any financial issues and risk factors
- Prepare an in-depth, actionable financial plan with realistic financial outputs
- Implement the financial plan
- Constant revision of plan and adjustments in line with financial changes
To speak with a member of our financial advisory team, click here
The Walfrid Private disclosure kit is comprehensive and will provide you with a thorough overview of Walfrid Private’s background, services, the experience of our financial experts and how to prepare for a complimentary consultation with us.
At the conclusion of your financial consultation with one of our advisors, you can expect:
- A review of your financial goals, objectives and expectations
- A review of our process for your personalised financial plan and associated costs – you should know what you’re getting as part of working with a leading financial consultancy
- Minutes/memo from the meeting recapping the consultation and ensuring we’re on the same page when it comes to the future of your wealth management.
- A personalised thank you note, recapping our conversation. Depending on the next steps, we made need to gather more information from you, this may include:
- Your signature and agreement to the outlined, bespoke financial plan
- Statements from various financial institutions
- Ad-hoc / other items of financial relevance
You can expect our meeting to be an informal conversation assessing your needs in a streamlined approach. The meeting will mostly be about getting to know one another and telling you about all that our firm has to offer. During our meeting, we will seek to understand your unique financial objectives by asking questions that cause you to think about money in new ways. Of course, we will also briefly review details pertaining to your assets (what you own), liabilities (what you owe) and your insurance (what protects you and your family from risks).
Phone our office on +353 1 458 4327 or get in touch via our Contact Form.
It is best to briefly speak with one of our financial experts prior to scheduling a full consultation to gauge your suitability for our financial services and to gauge if Walfrid Private is the best placed to meet you financial needs.
The initial financial planning consultation will last anywhere from 45 to 90 minutes. The disclosure kit we send you will include what you need to bring to our meeting so you’re prepared to make the most of the time with our experts.
We meet clients at our offices in Ballymount, Dublin 12, or at venues suitable to the client and their schedule.
The short answer is yes. We mostly bring in new clients through recommendations from our many satisfied clients, but we also take on those who reach out to us and are ready to engage in a lifelong financial planning service.
Walfrid Private offers a fully integrated financial plan, that assimilates all areas of financial investment, asset optimisation and future planning e.g. retirement / pension funds to maximise your full financial future into one streamlined process.
From tax planning and preparation, estate planning, and investment advice, no stone is left unturned or disregarded in the Walfrid Private approach.
We offer a wide range of services, all part of the overall financial and wealth management journey. We understand that our clients need different financial and investment services to align with their financial circumstances.
Walfrid Private offers the entire journey from an initial complimentary consultation right through to the extensive Walfrid Private wealth management program.
We work with you to focus on your personal financial priorities.
The financial needs and goals are unique to every client. We cost on a per case basis, so depending on your needs you can be assured that Walfrid Private will tailor a plan and budget to work to your specific set of financial circumstances. This is similar to a construction company building a house, each house is different in aspect, design and cost.
Crucially though, the first consultation is at the expense of Walfrid Private, something we are proud to offer as an independent financial advisory firm. Secondly, before you activate financial planning services with Walfrid Private, you will understand fully the financial benefits and the costs associated with your tailored financial plan.
Leaving your hard earned wealth and investments unprotected is never advised. Working with a Walfrid Private certified financial advisor you can steer your assets safely through times of uncertainty.
Protecting your financial assets through appropriate insurance is a fundamental element of any strategic financial plan. The trauma of death, accident or serious illness can be devastating for you, your family and your financial plan, especially if you’re in a wealth accumulation phase of your financial plan – that is, investing to build your wealth during your working life. The right insurance advice can minimise risks, secure your family’s financial future and soften the blow of serious illness or injury.
Your Walfrid Private financial advisor will analyse your insurance needs and recommend wealth protection solutions. The same care and expertise your advisor applies to planning the affairs during your lifetime extends to planning the transfer of assets to family and / or other beneficiaries when you die.
Your Walfrid Private advisor works with you, your solicitor and / or an estate planning specialist to structure a tax effective estate plan using testamentary trusts and other financial / investment strategies to protect your assets from unnecessary taxation or unwelcome claims.
At Walfrid Private, we pass the risk of the unwanted or unexpected life evets away from your personal and business balance sheet and onto a life company.
A managed investment brings the assets of multiple investors into a single investment pool, with a common investment strategy or financial goal in mind.
There are many financial benefits to a managed investment:
- You have access to professional management
- Lower costs as a result of economies of scale
- Access to greater diversification
Walfrid Private is an independently owned and operated company. No investment or insurance provider has ownership or material interest in Walfrid Private. This means, for our clients, you can be assured that our advisors only recommend investments to suit your financial circumstances. The aim is always be to reduce costs, reduce tax, increase performance and optimise wealth.
The amount of cashflow / savings / assets you have doesn’t always matter. Each client is unique and their needs are tailored to with this in mind. A Walfrid Private financial planner will look at your financial circumstances and assist you with a wealth management strategy that is best for you.
The fundamental key to affluent wealth management is financial planning. Set clearly defined goals with your advisor and work towards these goals in a realistic way. Optimise your income and investments to work hard for you and to align with the parameters set as part of the financial advisory phase.
Your financial planner at Walfrid Private will curate a financial forecast, cashflow model and/or investment approach tailored to your circumstances. Every client has different needs. Some may be starting out in their investment planning others might be thinking “will I sell my business?” and what the potential benefits of that might be. We work with you to optimise your wealth.
If you want to accelerate your wealth journey, your advisor will work with you on options such as gearing or borrowing to invest while gauging where you can mitigate risk factors.
From tax-effective tactics to asset allocation strategies, Walfrid Private tailors your plan for you.
Speak to one of our advisors if you want to start your wealth management journey. Get in touch
Most people engage a financial advisor to start financial planning at a significant milestone within their life or change in finances. Although, we believe there is no bad time to start working with a financial planner, below are some key times that our clients come to us:
- Starting a new job or changing employment and looking at superannuation options
- Getting married to or separating from a partner
- Starting a family and / or saving for educational costs
- Buying a new home / property and / or paying off a mortgage
- Looking to invest for capital growth
- Planning retirement or pension financing
- Inheriting money, receiving redundancy or other lump sum payments
- Looking for a centralised wealth management system that works for you
- Finding pensions at home in Ireland or abroad
- Purchasing property with your pension
- Finding pensions from previous employment
Most of our clients come to us for one of two reasons:
- You have come to a place with your finances that you’re unsure how to proceed. You want to invest smartly, you want to make the most of your hard earned money, but don’t know what options to take. There are so many investment options within the market that it can be overwhelming to make the best financial decisions that align with your financial goals. That’s where we come in. Our expertise is second to none and the client’s success is always our top priority.
- You have invested in the wrong avenues and need assistance. Sometimes our clients find they have been sold the wrong type of package, pension or cover and it doesn’t align with their lifestyle and financial goals. This happens frequently and it’s a misstep many people make, which is understandable. Finance is complicated. We work with our clients to restructure their financial investments to plan for their future.
- Business owners come to us as we specialize in wealth protection, accumulation, enterprise extraction and wealth retention