23 September 2011
IN THIS ISSUE
Quintas Quarterly Newsletter - Autumn 2011
Introduction
Quintas Wealth Management team up with IFG Corporate Pensions to become Munster’s principal indigenous Corporate Pension Provider
Why blanket debt forgiveness is the last thing we need
Quintas Quarterly Economic Review
Property Tax Incentives – Now is the time
Recent News
latestofferings
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Quintas Quarterly Newsletter - Autumn 2011
Introduction
by Noel Creedon, MD, Quintas Wealth Management
 
Noel Creedon, MD, Quintas Wealth Management
Noel Creedon, MD, Quintas Wealth Management

Welcome to the autumn edition of the Quintas newsletter.  We continue to journey through challenging, often very difficult times and in as much as we can we endeavour to strike a balance in these bulletins between opinion, advice and news.  This quarter we cover the much debated topic of ‘Debt Forgiveness’ and how careful management of this process is important for an orderly and beneficial rebalancing of our banking and mortgage system. 

In our ‘Quarterly Economic Review’ we provide you with insightful and useful context to the current economic issues as well as our own perspective on what the future may hold.

As ever in these communiqués we aim to update you on events that are ongoing in our own business as well as highlight the social and personal side of what we’ve done in the last 3 months around recruitment, social and corporate responsibility and business development.  In this regard the most significant development in the quarter has been the announcement of a new exclusive partnership between Quintas Wealth Management and IFG Group to jointly provide an enhanced range of products and services in Munster and Dublin.


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Quintas Wealth Management team up with IFG Corporate Pensions to become Munster’s principal indigenous Corporate Pension Provider
by Quintas Wealth Management
 
Noel Creedon, MD, QWM & Gary Owens, CEO, IFG Ireland

Quintas Wealth Management will be working in partnership with IFG Corporate Pensions, a subsidiary of IFG Group plc.  This partnership will enable Quintas to become Munster’s largest indigenous provider of retirement and investment solutions to both individual and corporate clients.

Under the deal, Quintas Wealth Management will be able to offer companies in the Cork and broader Munster area access to IFG’s web-based corporate pensions platform, the IFG Pension Portal which enables pension users to think and plan years ahead.

At a breakfast briefing hosted on Friday 9th September 2011 the region’s top business people discussed the future of the Irish Pension Landscape. 


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Why blanket debt forgiveness is the last thing we need
by Paul O'Connell, Finance Director
 
Paul O'Connell, Finance Director

With all the discussion and debate around introducing a debt forgiveness scheme of some sort, it is incumbent on the government to make a clear statement as to precisely where it stands on debt forgiveness and in doing so clear up the ever-growing confusion that they themselves have contributed to. Failure to provide clear leadership and a definite plan of action could well result in a renewed banking crisis for the Irish banks.

There are two types of mortgage borrower in today’s Ireland. A large number of people cannot meet their obligations in full, principally because their incomes have dropped significantly since their mortgage was taken out. There are also many who can pay but would naturally prefer not to.


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Quintas Quarterly Economic Review
by James McCarthy, Investment Analyst
 
James McCarthy, Investment Analyst

While there has been a well publicised emphasis on a smart economy in Ireland, exporting traditional goods are not to be overlooked. High enrolment levels at universities is not necessarily required for a country to be economically successful. Germany has far fewer graduates than France yet has a higher GDP per capita. Many countries leading the way out of current financial difficulties have been countries such as China and Germany who have a strong manufacturing base. Those in most trouble are countries such as the US, the UK and Ireland all of whom concentrated on building jobs in the services sector over the past decade and outsourced many low to high-end manufacturing jobs. In Ireland, with spiraling wage costs during the past decade, we became uncompetitive and lost large parts of our manufacturing capabilities, which we are now trying to recreate to drive an export led recovery.


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Property Tax Incentives – Now is the time
by Sean McSweeney, Director - Tax
 
Sean McSweeney, Director - Tax

It is fair to say that Property Tax Incentives were left in place for too long, which resulted in an oversupply of certain properties or in certain areas.

However, the original principal of property tax incentives was correct – identify key areas where standards needed to be improved for the benefit of the overall economy and provide an incentive for development and expenditure to take place. For example, the hotel sector to improve tourism facilities; student accommodation to increase & upgrade student accommodation; Urban renewal; Nursing homes; were all a success except they were allowed continue for too long resulting in over supply.


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Recent News
by Sarah O'Neill

EVENTS:

  • September 2011 - Quintas and IFG hosted a breakfast seminar entitled - A New Reality for Retirement Planning in Ireland?

As detailed in our article above Quintas Wealth Management have joined forces with IFG Corporate Pensions.  If you would like to view the video of the presentations or download copies of them please click on the links below.

A New Reality for Retirement Planning in Ireland? - Video of Presentations

Presentation Downloads:

David O'Shea, Director - Investments, Quintas Wealth Management


Gary Owens, CEO, IFG Ireland


Samantha McConnell, CIO, IFG Ireland

l-r Tara McCarthy - TDR, Brendan Cunningham - McNulty Boylan, Tim McCarthy - Quintas, Alf Smiddy - Quintas

l-r Tara McCarthy, TDR, Brendan Cunningham, McNulty Boylan, Tim McCarthy, Quintas, Alf Smiddy, Quintas

l-r Eoin Gunn - AIB, Vicki Crean - AIB

l-r Eoin Gunn, AIB & Vicki Crean, AIB

  • July 2011 - Coffee Morning for Breast Cancer Awareness

Our social committee organised a coffee morning to raise funds for Breast Cancer Awareness in July.  They raised a total of €170 for this worthy cause.  The social committee members are Margaret Goggin, Fiona Kavanagh, Lynda McAuliffe, Derek Murphy & Abina Kenneally.

Social Committee 4

NEW PRODUCTS ON OFFER FROM QUINTAS:

A review of your financial affairs should be carried out once a year or at least whenever there is a significant change in your circumstances.  Quintas Wealth Management is now offering a free financial review which will assist you to identify areas that may need attention or rebalancing.  If you are interested in availing of this service please contact us on 021 4641480.  Click here to view our Financial Health Check brochure.
  • Special Offer for All Protection Cases

To view details of the special offer which is currently available please click here.  

RECENT APPOINTMENTS:

Quintas are delighted to annouce the following appointments -


NEWS FEATURES:

  • Following our successful run of articles in the Cork Independent this time last year we are once again doing a weekly column entitled 'Money Matters'.  To view our most recent articles which have appeared please click on the links below:

2011 Sept 15 - Cork Independent

2011 Sept 22 - Cork Independent

  • Mark Ryan, Director, was approached by Sage to participate in a social media campaign called Sage Business Tips which it is using to promote the launch of its new Sage One accounting package. To view the video in which he appeared please click on the image below:

Mark Ryan, Sage Presentation

  • Mark was also profiled in the September Edition of Accountancy Plus magazine.  To view his profile piece go to page four on this attachment.


Quintas Blog:

To view recent Quintas blog posts please click on the links below:


Tax Deadlines:

We issued a flyer this week to all our subscribers advising them on upcoming tax deadlines.  To view details of these deadlines please click here.



 



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