About Us

Ross Curran

Ross Curran

Curran Financial Services are a multi-agency, financial planning and advisory firm , serving clients around Dublin and Galway.

The managing director, Ross Curran, has over 15 years experience in the Personal Finance and Wealth Management industry, and has taken all the knowledge he gathered along the way, with some innovative ideas, to his business.

Ross explains his philosophy on Financial Advice:

“For too many years the term ‘Financial Advice’ has been used to disguise what is a Product Selling Industry. Too often advisors, whether based in a local bank branch and looking to up-sell deposit and mortgage customers, or high-net worth brokerages focusing on wealth management , rely on selling product to earn their income, and I strongly believe this leads to a conflict of interest.

For truly client-centered planning, it is necessary to establish a clear relationship from the beginning. This can only be done with a transparent declaration of fees. If a client is paying for my services, I no longer need to sell, and this means the advice moves beyond pushing product.

Louise Hodgins

Louise Hodgins

In the minds of most individuals, the likes of the accounting and legal professions have traded on a clear, ethical understanding of their role, and my goal is to provide the same for my Financial Planning clients.”

Curran Financial Services are first and foremost a Financial Planning Firm, with a clear philosophy on how to best treat their clients. To ensure consistency of service and appropriateness of the relationship, a number of issues must be raised with all potential clients. These are best summarised as a number of key points:

  • Why do you need Financial Planning?
  • What are your Goals?
  • What is your Attitude to Risk?
  • How much work are you willing to put in?

All clients of Curran Financial Services are asked these questions as part of an initial consultation and only those who are able to answer, or are at least interested in finding out, are seen as long term Financial Planning Partners to the firm.

We do of course appreciate that some people have very straightforward requirements, be they single pieces of advice around a particular topic, or the need for a financial product. While we would not expect them to undergo the full interaction of a Planning Client, any initial consultation will still cover ‘fees Vs commission’ and ‘Reasons Why’.

Curran Financial Services is a member of the Professional Insurance Brokers Association (PIBA) and the Life Insurance Association of Ireland (LIA).

Curran Financial Services holds agencies with a wide range of insurance and investment companies, including:

  • New Ireland Assurance
  • Aviva Life
  • Zurich Life
  • Friends First
  • Independent Trustee Company
  • Davy Stockbrokers
  • Wealth Options

A Note About Fees

CFS operate on a time-based fee system. This means that clients are only charged for the work done by us on their behalf.

Because The Financial Services Industry continues to operate in a ‘commission’ environment however, this can often result in CFS being paid directly by providers for placing the business with them. Our commitment is as follows:

  • Where possible, we will operate on a Fee-Only basis.
  • Where commission can be paid, but the option to refuse exists, we will discuss the impact of choosing one method over the other with the client. Some factors involved include:
    • Commission is payable from Pre-Retirement funds, so is more cost-effective than from net assets
    • There is no VAT charged on Commission Payments
    • Commission Payments are not based on time spent or work completed, but usually levels of client contributions. It is often difficult to reconcile the two.
    • Where commission is always paid, on protection policies and some lump sum investments, the commission received will be offset against the fees due (for work completed) and excess will be repaid to the client or held in credit for future work.

 

Fees on ‘Assets Under Management’ (AUM)

As part of our Investment Service, we create and manage risk-appropriate portfolios for clients. This includes choosing appropriate funds, ensuring that the assets within the portfolio are ‘rebalanced’ for consistency on a regular (6-monthly) basis, and meeting with clients to discuss their portfolio performance.

In lieu of upfront charges and ongoing invoices, we typically look to levy an annual percentage fee on the portfolio of between 0.25% and 1%, depending on the fund size. As with commissions, we attempt to reconcile this income with the rate of work performed (on an hourly, chargeable basis) and rebate if applicable.

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