Business Ireland: Guide to Accountancy & Financial Services Firms

Profiles, views and news from some of Ireland’s leading companies

www.pwc.com/ie/ceo

Stepping up growth July 2014

Contact:

Irish businesses are stepping-up growth* with robust plans for expansion across all areas of business. This includes investing in talent, leveraging export markets as well as capitalising on digital efciencies. Are you stepping it up? *PwC 2014 CEO Pulse Survey

Rónán Murphy E: ronan.murphy@ie.pwc.com Kevin Egan E: kevin.egan@ie.pwc.com Feargal O'Rourke E: feargal.orourke@ie.pwc.com Paul Tuite E: paul.tuite@ie.pwc.com

© 2014 PricewaterhouseCoopers. All rights reserved. PwC refers to the PwC network and/or one or more of its member rms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. 05190

Business Ireland: Guide to Accountancy Firms

Pulse of the Nation PwC’s 2014 CEO Pulse Survey showed that confidence in Ireland’s economy is up, while the increasing tax burden, rising labour costs and availability of key skills are the main concerns.

Confidence in Ireland’s economy has almost trebled since last year: 86 per cent of Irish CEOs are positive about the outlook for Ireland’s economy, 77 per cent are expecting revenue growth and 69 per cent expect profit growth, according to PwC’s 2014 CEO Pulse Survey of 256 of Ireland’s top CEOs. 58 per cent of respondents report their businesses to be in better financial health now compared to the period prior to the financial crisis. 23 per cent feel they are in a worse position.

The challenges cited are the increasing tax burden, rising labour costs and the availability of key skills.

Ronan Murphy, Senior Partner at PwC, says: “The survey shows that the pendulum has swung with levels of confidence across many areas of business now higher than pre-recessionary times. Substantially more CEOs expect revenue and profit growth and confidence amongst MNC CEOs has also improved.”

Concerns The tax burden is the greatest economic threat for business growth, likely to

reflect Ireland’s high levels of personal tax. Over half of Irish business leaders are calling for Government to prioritise reducing personal tax. Rising labour costs reflect concerns around wage inflation as CEOs strive to attract and retain talent. The survey found Irish CEOs are more concerned than their global counterparts in both of these areas and over a quarter said talent constraints have significantly impacted their company’s performance.

Concerns about finance availability have fallen – nearly a third said finance is more readily available now compared to a year ago, up from 16 per cent last year.

Nearly two-thirds of Irish CEOs are of the view that the international tax system is in need of reform and report that the current international tax system does not meet the needs of multinationals.

Meanwhile, 92 per cent of responding MNC CEOs confirmed that their company’s investment in Ireland is considered to be a success. Nine out of ten currently plan to increase or maintain their investment in Ireland, with the ability to

Launching PwC’s 2014 CEO Pulse Survey (l-r) Paul Tuite, PwC Advisory Leader; Minister for Jobs, Enterprise and Innovation Richard Bruton TD and Ann O’Connell, Partner. access highly skilled people the most critical factor for investment. Competitive wage rates and improved cost competitiveness are also key. The retention of the current corporate tax rate was cited as important for over two-thirds of respondents.

In terms of exports, a third expect exports to grow and results reveal heightened interest in the UK and Western Europe with a third more CEOs targeting these markets compared to last year.

There’s also greater interest in emerging markets such as China, Brazil, Japan and Africa.

Irish CEOs lag behind their global counterparts in terms of capitalising on global change: While 60 per cent said technological advances will impact their businesses, only 16 per cent have initiated or completed programmes to become more innovative. Only a

How we capitalise on changing global trends and the opportunities brought about by digital technologies

will be critical for our long term success.

quarter have altered their technology investment.

Paul Tuite, Head of Advisory at PwC, concludes: “How we capitalise on changing global trends and the opportunities brought about by digital technologies will be critical for our long term success. This includes being exceptionally competitive, using innovation and minding our key talent as we grow markets and customers.”

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When You Want Peace of Mind Company Secretarial, Compliance and Corporate Governance obligations can be onerous.

To find out more about how we can help you meet your responsibilities contact Salvador Nash +353 1 410 1226

kpmg.ie

© 2014 KPMG, an Irish partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. The KPMG name, logo and “cutting through complexity” are registered trademarks of KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

Business Ireland: Guide to Accountancy Firms

The future is almost here Salvador Nash, Director, Legal Services and Head of Company Secretarial, KPMG Dublin, looks at the possible implications of the Companies Bill 2012.

It has never been more important for Finance Directors or owner managers of Irish businesses to be aware of legislative change and how new laws impact their business. Staying apace with a company’s legal obligations can be a challenge, however it is vital all businesses operating in Ireland understand the possible implications new regulation poses for their business.

The Companies Bill 2012 has been in the pipeline for more than a decade and is expected to be signed into law this Autumn.

Commencement of this Act is due to take affect during the first quarter of 2015. It represents the most significant overhaul of Irish company law in 50 years and consolidates primary and secondary legislation into one single Companies Act. While largely a consolidation Bill, the Companies Bill 2012 does contain radical reforms, the most ambitious of which is to place private companies at the centre of the Irish company law code, shifting the emphasis away from public companies.

What this means for Irish Business During the transition period, existing private companies will have to decide whether to become a Company Limited by Shares (new simplified entity) or a Designated Activity Company. The conversion steps then need to be taken, which may include a change of name as it would be unwise to assume that the default form of company is suitable. This could have serious cost implications for Irish businesses.

A CLS, expected to be the most common type of company, will no longer have an objects clause, thereby giving it the same contractual capacity as a natural person. Additionally, a CLS may elect to avail of less onerous requirements under the Bill (e.g. a CLS may have a sole director, but the same person cannot be the secretary, and may have a written form AGM). The introduction of a one document constitution for a CLS, instead of the existing two document Memorandum and Articles of Association, will necessitate review to ensure specific provisions

are contained in the new constitution.

Directors’ common law fiduciary duties are codified and explicitly stated in the Bill, helping directors to understand their duties. There is a new requirement for directors and the company secretary to make a declaration on their appointment, acknowledging their legal duties under the Companies Acts, other statutes and common law.

A new duty has also been imposed on directors to ensure that the person who is entrusted with the role of company secretary has the necessary skills or is sufficiently resourced to discharge their duties under the Bill.

There will also be a new classification of company law offences making it easier for directors to identify if they are in breach of the law and the penalties that might incur. Reforms also include a new requirement to register, on public record, persons authorised to bind a company, the use of service addresses by directors and secretaries in lieu of residential addresses, domestic mergers and divisions,

Salvador Nash, Director, Legal Services and Head of Company Secretarial, KPMG Dublin. the extension of the audit exemption provisions to include group companies and a validation procedure for certain types of transactions, all designed to streamline and simplify commercial transactions and reduce costs.

The Bill aims to simplify existing company law, reduce the administrative burden for companies and introduce some overdue modern concepts into Irish company law. While the new legislation is welcome, it does compel business people to make decisions about the future structure of their company.

As ever in a competitive world procrastination is not an option.

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Business Ireland: Guide to Accountancy Firms

Smith & Williamson Smith & Williamson are the leading independently-owned providers of investment management, accountancy, tax, corporate and financial advisory services to private clients, corporates, professional practices, and non-profit organisations.

Smith & Williamson Dublin has over 70 staff which comprises financial and business services professionals, tax advisors, private client investment managers and support staff. With 11 principal offices in the UK and Ireland, 1,500 people and an international capability in over 100 countries, Smith

& Williamson’s aim is to provide an innovative global service, a unique blend of business and personal financial services ranging from tax, audit and corporate finance to personal financial planning and investment management.

Since its foundation over a century ago, Smith & Williamson has been

managing the financial affairs of private clients and their business interests.

They are one of the top ten largest firms of accountants in the UK and the investment management business has over £15 billion (a18.7 billion) of funds under management and advice.

People may ask what sets Smith & Williamson apart from its competitors; put simply, it’s their people – ambitious, talented and enthusiastic professionals who enjoy what they do and relish the opportunity to work together and with clients.

Name: Paul Wyse Title: Managing Director Practice Area: Corporate finance and business advisory services Email: paul.wyse @smith.williamson.ie

Your trusted adviser Local presence, national reach

Tax Planning and Compliance Corporate Recovery and Insolvency Audit and Assurance Services Corporate Finance Forensic Accounting and Litigation Support

Smith & Williamson Freaney Limited Authorised to carry on investment business by the Institute of Chartered Accountants in Ireland A member of Nexia International

For information: Paul Wyse t: +353 1 6142500 e: Paul.wyse@smith.williamson.ie www.smith.williamson.ie

Business Ireland: Guide to Accountancy Firms

Deloitte Ireland Deloitte Ireland provide audit, tax, consulting, and corporate finance services to both public and private clients across a range of industries.

Deloitte, one of Ireland’s leading business advisory firms and a global leader in professional services, collaborates with public and private clients to provide audit, tax,

consulting and corporate finance services across multiple industries. Our objective is to work with our clients, providing them with long term value, to help them succeed.

What’s different about Deloitte is our people.

With over 1,300 people in Dublin, Cork and Limerick and over 200,000 people worldwide we are unified by a collaborative culture that fosters integrity, outstanding value and forward thinking. Our unique, multidisciplinary approach brings world class capability and deep local expertise across a range of

integrated services to help our clients succeed wherever they choose to operate.

For further information please contact: Website: www.deloitte.com/ie Twitter: @DeloitteIreland LinkedIn: www.linkedin.com/ company/deloitte-ireland Telephone: Dublin: +353 1 417 2200 Cork: +353 21 490 7000 Limerick: +353 61 435500

Forward thinking.

Deloitte is one of Ireland’s leading business advisory firms, providing audit, tax, consulting and corporate finance services to both public and private clients spanning multiple industries. Our collaborative approach combines deep business experience and industry knowledge to deliver innovative solutions, helping our clients succeed.

Dublin: +353 1 417 2200 Cork: +353 21 490 7000 Limerick: +353 61 435500 Visit: www.deloitte.com/ie © 2014 Deloitte Touche Tohmatsu Limited

Name: Brendan Jennings Title: Managing Partner Email: info@deloitte.ie Brendan is responsible for driving the firm’s growth strategy, ensuring client service excellence and cementing Deloitte’s position as a leading business advisory firm. He also represents Deloitte Ireland within the Deloitte Touche Tohmatsu global network.

Business Ireland: Guide to Accountancy Firms

EY

Appointed almost five years ago as Managing Partner to EY, Mike McKerr tells Business Ireland about how EY survived the recession, investment and Ireland’s economic recovery. Many professional services firms proved resilient during the downturn in Ireland and now EY’s Irish workforce is higher than it was pre-crisis.

Like many organisations, EY had to make various changes across our business resulting from the economic crash. Since becoming Managing Partner, I wanted to ensure that we retained jobs and improved cost competitiveness and our market presence. The approach we took as a firm meant we had no redundancies during the recession, in fact we grew our headcount by 18 per cent in the last two years to just under 1,500 people working across our Dublin, Belfast, Cork, Limerick and Waterford offices. We aspire to create further jobs as evidenced by our recent announcement of 500 additional people in Belfast.

In addition, EY has experienced sustained growth over the last three years, increasing revenue by over 20 per cent, with almost half of this coming in financial year 2013.

In our latest financial year 2014, we will report double digit growth.

This demonstrates that we are winning in the market and that our investment programme is paying dividends – we have consistently performed at the top of our industry in the last three years.

Attracting top talent EY’s success depends on attracting the best people to our organisation.

We invest in nurturing their natural talent and helping to develop them into our next generation of leaders. At the beginning of July we announced seven new partner promotions, bringing the total

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Mike McKerr, Managing Partner, EY Ireland. number of partners in Ireland to 57. Each of them has a track record of delivering exceptional client service and they bring great ambition to grow our business and strengthen our brand.

We have seen strong growth across each of our service lines – and made bold investments in areas such as our Performance Improvement Advisory Practice led by Partner, Frank O’Dea. We continue to attract top talent including Directors, Niamh O’Beirne and Justin Hayes from Accenture and Director, Carol Murphy from PWC.

Funding Domestic Business Our investment in people is as a result of increased demand for services but it’s also a signal of our confidence in Ireland’s future economic growth. Our latest EY Economic Eye report forecasts

GDP growth to increase from -0.3 per cent in 2013 to 2.0 per cent in 2014. Domestic demand is expected to contribute positively to economic growth in 2014 – for the first time since before the recession started. Exports are forecast to rise to 3.7 per cent in 2014. The strength of the UK and US economies in 2014 and an improvement in both Eurozone and Ireland’s competitiveness have fuelled optimism for stronger performance this year.

While there are long term opportunities in emerging markets, rising risk profiles and growth forecast downgrades in those economies mean that traditional sources of export success (UK, US, Eurozone) should remain a high priority for exporting businesses, with a more cautious short term approach adopted towards emerging markets.

Business Ireland: Guide to Accountancy Firms

The availability of funding for SMEs has improved over the last 12 months with greater commitments to fund the SME sector and also new equity funds being set up. However, the diversity and quantum of supply of bank funding has shrunk as foreign banks retrench with the pillar banks being essentially the main providers.

In general, well performing businesses continue to have access to funding, albeit with tougher terms and conditions than they would have been used to. Those businesses that are already highly geared or struggling to perform find accessing new credit tough.

In order to foster an indigenous economic recovery it is vital that the SME sector continues to be

strongly supported. In this regard perhaps an opportunity may exist for a new entrant or the State to set up an SME development bank.

The pragmatism with which banks can approach restructuring is limited by balance sheet solvency considerations and although sentiment is improving it will take some time for this to translate into positive action.

Is this the end of Austerity?

The Stability Programme Update by the Department of Finance in April also reflects increased optimism for 2014 and beyond. Ireland has been seen somewhat as the ‘poster child’ for austerity measures and hopefully the most austere budgets are now in the past.

Despite this stability, economic recovery is still fragile and depending on the nature of any further cuts or tax increases there is a very real possibility that the nascent consumer recovery could be adversely affected. It is important to show to markets (domestic and international) that Ireland is not deviating from its recent path and that it is still on track to reach its goal of fiscal balance and resolve its other structural challenges. Finding the right balance of savings and cuts will prove challenging and in October’s budget, Government must avoid damaging consumer confidence and continue to focus on the job creation measures that will accelerate recovery.

WHAT IS THE DIFFERENCE BETWEEN GOOD AND GREAT? At EY we believe it’s the focus to win.

We’re always pushing ourselves to achieve more, go further and reach higher. Because our high performance for our clients starts with giving our very best effort.

Visit ey.com/ie.

© 2014 Ernst & Young. All rights reserved. 6168.indd 08/14 ED None

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GO TO: WSJ.COM/TECH ©2014 Dow Jones & Company, Inc. All rights reserved.

@WSJD

Business Ireland: Guide to Accountancy Firms

Baker Tilly Ryan Glennon We are Baker Tilly Ryan Glennon – a leading mid-tier firm of accountants and business advisors in Ireland. We are also independent members of the eighth largest international accountancy firm in the world.

Since we formed in 1987, we have grown to be a top ten practice in Ireland. We are known for building long term, personal relationships with our clients. We know that our success is measured by our clients’ success, if they are achieving their goals we know we’re doing our job.

As a top ten firm, we offer access to service line specialists, sector specific experience and can leverage true international expertise

through our membership of the Baker Tilly International network. We recognise the importance and value of sector specific knowledge and we offer solutions.

With substantial experience in both the public and private sectors, we offer a comprehensive range of business consultancy and accounting services to our clients. In all areas of the practice, we provide clients with pragmatic, expert led, personalised advice and

insights that help them succeed, grow and prosper.

Our client’s requirements are our strategic drivers. They keep us striving to do more, to go further, to realise the very best outcome for their business challenges. In turn, we deliver hard-working solutions, innovative strategies and expert advice, borne of industry experience and rigorous thought.

We give advice we believe in.

Name: John Glennon Title: Managing Partner Email: jglennon @bakertillyrg.ie I am a passionate advocate for achieving accountability through great people and aligning strategy with measurable outcomes. As our client, your success is a measure of our own which is why we take your business personally.

Group

For all your financial needs, we’re ready and waiting to help.

South Quay Group  

Accountants Consultants

 

Auditors Corporate Capital

Contact us now at www.southquaygroup.com

Download Aurasma and Follow SouthQuayGroup

Business Ireland: Guide to Financial Services Firms

South Quay Group South Quay Group offer a full spectrum range of financial services for small and medium enterprises from planning, through capital procurement and reporting, enabling them to grow and prosper at home and abroad.

Financial success doesn’t usually happen by accident.

In large, successful organisations, the person in charge typically enjoys the support of an inhouse team of financial experts, whose job it is to help them make the right decisions for the business.

Most small to mediumsized businesses cannot afford to have a fulltime financial expert in-house. For many, company finances are an afterthought, considered only in terms of their immediate impact on cash flow and the day-to-day running of the business.

However, businesses can’t afford to be without expert financial planning and management. South Quay Group provide affordable and sound financial planning to underpin your business activities, and keep you on track to achieving the success that you have mapped out for your business. At South Quay we think of ourselves as your outsourced Chief Financial Officer, leaving you free to do what you do best – managing key activities of your business.

South Quay Group offer the following services: • Accounts – Preparing timely accounts on a monthly basis for you and your finance providers.

• Capital – Finding the capital, loan finance, grants and tax credits for you.

• Knowledge – Planning the future of your business; monitoring activity, recording performance; interpreting the results.

• Audits & Compliance – Keeping the authorities at arm’s length by filing returns on a time basis.

As a business owner you already know the nuts and bolts of your product or service, but with the help of an outsourced Chief Financial Officer, you can take your business on to the next level by availing of the financial expertise and insight that you lack – through no fault of your own.

South Quay Group is a future-focused firm of qualified business

professionals providing a value-for-money financial information planning, monitoring and control support for business on the model of an outsourced CFO. We will assist with everything from business planning and budgeting, capital raising, grants and tax credits to enable your company to grow, succeed and prosper.

For more information on any of our services please contact us for a discreet conversation. We are here to help.

South Quay Group T: 01 613 9880 F: 01 613 9885 E: knowledge @southquaygroup.com www.southquaygroup.com

Name: Patrick Lane Title: Chief Financial Officer for Entrepreneurs and Managing Director of South Quay Group Email: patrick.lane @southquaygroup.com Patrick Lane is a fellow of the Institute of Chartered Accountants in Ireland and has 30 years of experience in business growth consultancy, auditing, accounting information systems and taxation.

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Asset Services

Delivering a range of services to businesses in Ireland

www.capitaassetservices.ie

Our services

Financial strength and remit

We offer a range of outsourced service solutions for clients across diverse sectors. Our services include, but are not limited to, corporate, treasury and debt solutions. For a more detailed overview visit www.capitaassetservices.ie

In addition to our substantial Irish presence we offer services to clients through our operations in Amsterdam, Budapest, Jersey, London, Luxembourg and Zurich. We also have representative offices in New York and Singapore.

Our services are flexible and designed to scale up alongside your business expansion and growth.

Capita Asset Services is a division of Capita plc - a FTSE 100 company and Ireland and the UK’s leading provider of business process management and integrated professional support solutions.

For further information about the services we provide, please contact: Fergal Molony - Head of Business Development - T: +353 (0) 1 224 0337 | E: fergal.molony@capitaifs.com Joanne McEnteggart - Director, Debt Solutions - T: +353 (0) 1 654 8865 | E: joanne.mcenteggart@capitaassetservices.ie Neil Fleming - Director, Treasury solutions - T: +353 (0) 1 224 0333 | E: neil.fleming@capitaifs.com Sinead Keaveney - BD Manager, Corporate Solutions - T: +353 (0) 1 224 0316 | E: sinead.keaveney@capitaifs.com Capita Asset Services is a division of Capita plc and a trading name of the companies in the division that provide corporate, treasury, debt, shareholder, fund and private client solutions. For further information about Capita Asset Services, including the regulatory status of these companies, please visit www.capitaassetservices.com

Business Ireland: Guide to Financial Services Firms

Capita Asset Services (CAS) Ireland CAS Ireland is a leading provider of innovative outsourced service solutions for clients across a range of sectors. we use our professional expertise and experience to deliver an efficient, accurate and reliable service to individuals, companies and institutions around the world. Our service solutions and record of consistent operational delivery have helped to fuel our growth and maintain our position as the leading provider of outsourced and professional support services in Ireland.

We operate through multilingual teams based in safe, stable and well regulated jurisdictions.

Our success stems from our people and the partnerships we establish with our clients. By working closely with our partners, we have the knowledge, insight and understanding to implement our solutions efficiently and effectively.

Financial and accounting services We offer a range of services tailored to meet your business requirements.

Through working with small businesses and large corporates, we recognise

the need for the flexibility to scale up alongside your business expansion and growth strategy. With this in mind our offering includes full accounting back office service encompassing payments, invoices and file returns, and financial reporting.

We will provide you with cost effective and reliable support, through our range of financial and accounting services that will create efficiencies and allow you to concentrate on managing your core business. They are backed up by a clear cost structure and pre-agreed service levels, all delivered via our independent and qualified accounting team based in Ireland.

We can support your accounting requirements whether they are local or on a global scale and we offer a ‘pick and mix’ or a full service offering where you can decide what business accounting support is required.

For further information on our services in Ireland visit www. capitaassetservices.ie or contact a member of the team opposite.

Our People

Name: Neil Fleming Title: Director Practice Area: Accounting, Treasury, Global Finance Email: neil.fleming @capitaifs.com

Name: fergal molony Title: Head of Business Development Practice Area: Corporate solutions, Debt solutions Email: fergal.molony @capitaifs.com

With 20+ years of panEuropean experience, Neil Fleming heads up the Treasury function in Ireland, working with local and global corporates across a range of services.

Fergal Molony has responsibility for business development, sales and key relationship management across Corporate and Debt solutions in Ireland and UK.

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Are you investing in Ireland?

TMF Group is here to help you expand more quickly, more safely and with more control.

We have a proven track record of successfully partnering with foreign companies who have decided to set up an operation in Ireland. Our expert accountants, corporate secretarial, and HR and payroll professionals help clients to operate their corporate structures, finance vehicles and investment funds in different geographical locations. In Ireland, our comprehensive range of services include : Set-up services

Ongoing services

Incorporation and filing of documents

Provision of registered office and named

with the companies registration office Registration with the Irish revenue commissioners Opening bank accounts with domestic and international banks Payroll system set-up Accounting system set-up Invoicing system set-up

company secretary

Contact TMF Group’s Irish team: Ronan Reilly Managing Director +353 1 614 6247 ronan.reilly@tmf-group.com Kevin Butler Director of Client Services +353 1 611 4012 kevin.butler@tmf-group.com

Directorship services - provision of qualified,

independent directors Board support services Accounting and reporting services: management accounts and annual statutory accounts preparation under Irish GAAP and IFRS Tax filing and regulatory compliance services, including corporation tax and VAT Cash management services Payroll services Government grant application assistance

Ireland is one of the most popular locations for multinationals to invest in Europe. We have an attractive tax rate, a talented and highly-skilled workforce, and sound technology capabilities. It’s already home to FDI operations from a wide range of industries - including IT, pharmaceutical, software development, digital media, financial services and life sciences - that have found plenty of success.

tmf-group.com

Business Ireland: Guide to Financial Services Firms

Harvest Financial Services After over 20 years in business, Gerry Devitt, Managing Director of Harvest Financial Services shares his experience of the top five misconceptions business owners have about pensions.

direct property with the funds they have built up in the pension.

I will lose all the money saved if I die early If you die before you draw down your pension benefits all or the majority of your fund may be paid tax free to your estate.

For many of us post draw down of our pension the balance may pass to our spouse or estate. Only in the case of an annuity purchase or payment of pension from a defined benefit scheme would you ‘lose the fund’ and even then a spouse’s pension may be paid.

The State will provide my income in retirement

Gerry Devitt, CEO Harvest Financial Services Ltd.

Once my money goes into a pension I have no control over where my funds are invested With self administered pension schemes the member has complete control over the

investments within their pension, for example property, international funds with a fund manager of your choice, individual shares and deposits. One investment trend we are currently seeing is clients identifying and acquiring

According to a recent report from the Department of Social Protection the shortfall in the social insurance fund which pays the state pension will be two per cent of GNP in 2019, increasing to 6.4 per cent by 2052 (Source: The Actuarial Review of the Social Insurance Fund, 31st December 2010). In my view a rise in PRSI contribution rates, reduction in state pension payments or significant Exchequer subvention will be required to meet ongoing

payment of the state pension. It is not a stream of income we advise clients to rely on in retirement.

I have a defined benefit scheme so my pension income is guaranteed Pensions have been making the headlines over the last couple of years for all the wrong reasons! Many defined benefit schemes are insolvent or in wind up and are paying out benefits significantly less than promised. For those close to retirement age this can have a devastating impact on their financial plans. Advice for anyone with accrued pension in a defined benefit scheme is crucial.

I can figure out this pension stuff myself There have been significant changes to pensions law and regulations over the last ten years and the implications of making poor choices in relation to one of the single biggest financial decisions of your life can be significant.

Hence, it has never been more important to speak to a financial advisory firm that offers both pensions and investment expertise. www.HarvestFinancial.ie

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An executive night with a difference. You could call it a networking event for Ireland’s business leaders. Except that instead of dinner and speeches, it’s sleeping bags and conviviality in the unique surroundings of the Dublin’s Iveagh Gardens or Cork’s historic City Gaol. It’s a night to raise funds and awareness of homelessness.

Since 2012, over 120 business leaders have slept out and raised over €675,000. Past participants include business leaders from Aviva, Deloitte, PayPal, Glanbia, Google, The Irish Times, KBC, BOI and Toyota. Please join us on Friday 17th October 2014 and give one night to change a lifetime. See focusireland.ie

SPONSORED BY

Call 01 881 5900 Visit focusireland.ie Find us on

Business Ireland: Guide to Financial Services Firms

Thinking of Investing?

With New Ireland, you can rest assured that you are investing with one of the best. With our wide array of investment funds, we ensure that we can cater for the needs of many different types of investors. You will also find up to date performance information to help you keep track of how your fund is performing and hear from our fund managers with their view of what’s happening in the markets.

With a constant stream of information from market experts and the financial media on stock market volatility, many people can feel daunted by the opportunity of investing.

At New Ireland we try to keep things simple to make sure our clients understand what their money is invested in and the risks involved.

Why invest in a fund?

As a personal investor the charges incurred in buying

and selling different assets can be costly. Many people lack the time or experience to give a portfolio of investments the attention it demands. Investing in a life assurance investment fund can help reduce the time and costs involved in investing in individual assets.

At New Ireland we have a wide range of life assurance investments which can be tailored to individuals needs. We also partner with some of the world’s leading fund managers to put investment expertise on our clients’ side.

years or more) to give your fund time to grow in value.

However, even medium to long term investing involves risk as values will fluctuate over time and most investments do not provide a guaranteed level of return or a promise that you will not lose money.

It is important to talk to a financial advisor about the level of risk you are prepared to accept and what it will mean to the returns you can expect.

This should then influence the type of funds that you invest in – funds that suit your appetite for investment risk.

Valuable advice Investing in a life assurance investment fund is usually for the medium to long term (typically, five to seven

Contact us For nearly 100 years New Ireland has been helping our clients find solutions

that meet their financial needs. New Ireland is one of the leading life assurance companies in the Irish market with over 500,000 policyholders and in excess of a13.4 billion in assets under management (February 2014).

You can find out more about investing by contacting us at New Ireland 11-12 Dawson Street Dublin 2 (01) 617 2000 www.newireland.ie Terms and conditions apply.

New Ireland Assurance Company plc is regulated by the Central Bank of Ireland. A member of Bank of Ireland Group.

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Business Ireland: Guide to Accountancy & Financial Services Firms

List of Member Companies Offering Accountancy Services Accountable 01 676 1777 www.accountable.ie Baker Tilly Ryan Glennon 01 496 5388 www.bakertillyrg.ie Barr Accountants 01 296 4488 www.barraccountants.ie Barr Pomeroy 01 676 1166 www.barrpomeroy.ie BDO 01 470 0000 www.bdo.ie Big Red Cloud 01 204 8300 www.bigredcloud.com BKRM Ltd 01 836 5522 www.bkrm.ie

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Evelyn Fitzpatrick Consulting 01 490 6540 evelyn.fitzpatrick@gmail.com EY 01 475 0555 www.ey.com/IE/en Grant Thornton 01 680 5805 www.grantthornton.ie Guardian Management Accounting 01 424 0519 www.guardianma.ie Hamble Corporate Services 01 661 8446 www.hamblegroup.com Irish Accounts 01 805 8839 www.irishaccounts.ie

Bradley Tax Consulting 01 400 4123 www.bradleytaxconsulting.ie

Kavanagh Fennell Limited 01 206 0800 www.kavanghfennell.ie

Byrne Curtin Kelly 01 676 5333 www.bck.ie

KPMG 01 410 1000 www.kpmg.ie

C F O’Flynn and Associates 01 668 0399 www.cfoflynnandassociates.com

Mazars 01 449 4400 www.mazars.ie

Crowe Horwath 01 448 2200 www.crowehorwath.ie

MCN Associates 01 230 9000 wwwmcnassociates.ie

Duignan Carthy O’Neill 01 668 2404 www.dcon.ie

McStay Luby 01 676 3566 www.mcstayluby.ie

Moore Stephens Nathans 01 888 1004 www.moorestephensnathans.com Ormsby & Rhodes Chartered Accountants 01 799 8300 www.ormsby-rhodes.ie OSK 01 439 4200 www.osk.ie Purcell McQuillan Tax Partners Ltd 01 668 7200 www.pmqtax.com RSM Farrell Grant Sparks 01 418 2000 www.rsmfarrellgrantsparks.ie SGK 01 687 7190 www.sgkaccountancyservices.ie Smith & Williamson 01 614 2500 www.smith.williamson.ie South Quay Group 01 613 9880 www.southquaygroup.com Wallace O’Donoghue 01 888 0830 www.wallaceodonoghue.ie Williams Merrigan 01 676 5800 www.williamsmerrigan.ie

Business Ireland: Guide to Accountancy & Financial Services Firms

List of Member Companies Offering Financial Services Abbey International Finance Limited 01 664 4090 www.abbeyintfin.ie

Capita Asset Services (Ireland) Ltd 01 654 8800 www.capita.co.uk

Acuvest Limited 01 634 4510 www.acuvest.ie

Chase Paymentech 01 726 2950 www.chasepaymentech.com

AEGON Ireland Plc 01 673 8800 www.aegon.ie

Citco Corporate Services (Ireland) Limited 01 636 7800 www.citco.com

Alvarez & Marsal 01 400 7522 www.alvarezandmarsal.com Arvato Finance Services Limited 01 704 9303 www.arvatofinance.com Bibby Financial Services 01 297 4911 www.bibbyfinancialservices.ie Blackall Financial 01 806 1400 www.blackallfinancial.ie Bluestone Asset Management 01 644 8900 www.bluestoneam.ie BNY Mellon Fund Services Ireland Ltd 01 900 3500 www.bnymellon.com/ie/en Cabot Financial Ireland Ltd 01 660 8011 www.cabotfinancial.ie Cantor Fitzgerald Ireland 01 633 3800 www.cantorfitzgerald.ie

City Trust & Corporate Services Limited 01 675 3140 www.citytrust.ie Cleere Financial Control 085 173 3454 www.cleere.ie Close Brothers Commercial Finance 01 901 5213 www.closecommercialfinance.ie Comgest Asset Management International Limited 076 688 6580 www.comgest.com Computershare 01 447 5566 www.computershare.com

Debtors Exchange 01 685 3600 www.debtorsxchange.com Deloitte 01 417 2200 www.deloitte.com/ie DEPFA Bank plc 01 792 2222 www.depfa.com FEXCO 01 637 3000 www.fexco.com Finance Ireland 01 400 4282 www.financeireland.cie Friends First 01 661 0600 www.friendsfirst.ie Genworth Financial 01 1 542 8400 www.genworth.ie GR-NEAM Limited 01 673 8500 www.grneam.com Harvest Financial Services 01 237 5500 www.harvest-financial.ie

Contracting PLUS 01 611 0707 www.contractingplus.com

Hayden Brown Chartered Accountants 01 677 1951 www.haydenbrown.ie

Danske Bank 01 484 0000 www.danskebank.ie

HML 1890 812840 www.hml.ie

Davy 01 679 7788 www.davy.ie

Holvi Payment Services holvi.com/en/

19

Business Ireland: Guide to Accountants & Financial Services

Hozart Ltd/Spectra Ltd/ Sotchem Ltd 020 793 84377 IFG Group plc (Ireland) 01 277 1800 www.ifg.ie IG 01 526 6050 www.ig.com Independent Trustee Company 01 614 8060 www.independent-trustee.com Interface Financial Group 01 801 5527 www.interfacefinancial.ie Invesco Ltd 01 294 7600 www.invesco.ie Ion Equity 01 611 0500 www.ionequity.com Irish Life 01 704 2000 www.irishlife.ie Irish Stock Exchange plc 01 617 4200 www.ise.ie KBC Bank Ireland plc 01 664 6000 www.kbc.ie KBC Fund Management Ltd 01 514 8800 www.kbcfm.ie

20

Link Receivables Management 01 897 6464 www.ie.linkfinancial.eu MasterCard Europe 01 217 8600 www.mastercard.com Mercer 01 603 9700 www.mercer.ie Merrion Investment Managers 01 670 2500 www.merrion-investments.ie Microfinance Ireland 01 260 1007 www.microfinanceireland.ie Moneycorp Ireland 01 901 5252 www.monyecorp.com New Ireland Assurance 01 617 2000 www.newireland.ie O’Driscoll Assets 01 683 1478 www.odriscollassets.com Omnipay Ltd 01 219 4200 www.omnipaygroup.com Paycheck Plus 1890 552 552 www.paycheckplus.ie

Kennedy Wilson 01 649 4220 www.kennedywilson.com

PayPal Europe Services Limited 01 243 2223 www.paypal.com

Lane Clark & Peacock 01 662 0221 www.lcpireland.com

Pepper Asset Servicing 01 907 4900 www.peppergroup.ie

LeBruin Private 01 281 5250 www.lebruinprivate.com

Permanent TSB plc 01 669 5000 www.permanenttsb.ie

Rabobank in Ireland 01 418 4000 www.rabobank.ie Sentenial Ltd 01 629 2141 www.sentenial.com Signature Capital Ltd 01 669 0700 www.signaturecapital.ie Solar 21 01 458 6599 www.solar21.ie Stability Financial 01 634 9393 www.stabilityfinancial.ie State Street 01 776 8000 www.statestreet.com TMF Management (Ireland) Ltd 01 614 6240 www.tmf-group.com Tower Trade Finance (Ireland) 01 244 9473 www.ttfi.ie Towers Watson 01 661 6448 www.towerswatson.com/ ireland Trustee Decisions 01 806 2750 www.trusteedecisions.com Ulster Bank Ireland Limited 01 608 4000 www.ulsterbank.ie VisionNet Limited 01 664 1111 www.vision-net.ie Walterstown Investments Ltd 01 631 4444 www.walterstowninvestments.ie

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As a business owner you spend time planning your company’s future income. This month why not spend time planning your own future income in retirement.

Do you want a pension that offers you?

Control

Transparency

You control the investments in your pension, from direct property, funds, deposits or individual shares.

Fees are charged for administering your pension scheme which are fully disclosed to you.

Flexibility

Security

You decide the time contributions you make to the fund and when you draw down your pension benefits.

Your pension assets are held in trust on your behalf. They are not helf on the company’s balance sheet.

Talk to Harvest Financial Services Limited about our range of self-administered pre and post retirement pensions.

www.harvestfinancial.ie • justask@harvestfinancial.ie Harvest Financial Services Ltd Block 3, The Oval, Shelbourne Road, Ballsbridge, Dublin 4.