Sunday Business Post – Feature on Frances O’Hanlon

Frances O’Hanlon has worked in the financial services sector for more than two decades, much of that time in retail banking.

In 2006, she started Frances O’Hanlon Mortgages and Investments, and has since been working as an independent financial adviser in Tipperary. She lives outside Clonmel with her husband Gary and their two small daughters.

What’s the best investment you ever made?

A tie between my home and my business.

What was the worst investment you ever made?

Anglo Irish Bank shares. I consider them a write-off even though they were, thankfully, only a small part of my investment portfolio.

Which investment options do you currently favour?

Diversification has been and always will be the key, but I currently favour a monthly drip-feed into an equity-based investment in the hands of a good fund manager. I also like the idea of alternative energy. It is important to have some cash in reserve, but equities have historically outperformed all asset classes, even with extreme ups and downs.

Do you own your own home or other investment property?

Yes and yes, in partnership with a well-known bank.

What type of car do you have?

A 3 series BMW- I do a lot of mileage meeting clients nationwide and, with two small children, reliability, safety and fuel efficiency are important to me.

What was the best financial advice you ever received?

Don’t buy that house! That was my father’s advice when I was working in London and returned home for Christmas 1989 and told him my plans to buy in England. He didn’t like what he was reading about the British property market. The property market in Britain crashed soon after and, while it subsequently recovered and grew again, it definitely would have delayed my return home to Ireland by a few years.

What financial advice would you give to someone starting in a career?

Get into the habit of saving immediately. Save as you are paid, for day-to-day or bigger events. Start a pension immediately.

When you started your career, if you had the financial knowledge you now have, would you have done things differently?

Wouldn’t everybody? Ironically, I probably would have taken a little more risk when investing.

Do you have a pension?

Yes.

Do you invest in equities or equity-based funds?

Yes, both.

Did you open an SSIA? If so, what did you do with the proceeds?

I did have an equity-based SSIA and I used the proceeds to set up my own business.

Are you a saver or a spender?

A bit of both.

What’s your top financial priority?

I would like to clear my family home mortgage as quickly as possible, and accumulate good education funds for my two children.

How would you describe your attitude to your personal finances?

Realistic, but forward thinking.

Have you made any changes to your personal spending habits as a result of the current economic environment?

I have certainly cut a few unnecessary frills, and make an even bigger effort to support Irish business, locally and nationally.

If you were the Minister for Finance for a day and could change one thing, what would it be?

Can I make two? I’d make us more competitive as a whole. I also believe it is vital to help the average person with financial pressures, so I would implement a support system showing them a way forward and providing hope for their future.

If you had all the money you could wish for, what three things would you buy?

A way out of its current financial hole for Ireland, investments in health, alternative energy and climate change and financial security for all my family and close friends.

For online article visit http://www.thepost.ie/story/eyojsneyoj/

The reality is that the majority of us know we are in a ‘low interest rate’ era. You hear it from the media, from gloating friends who are on Tracker rates or seething friends who are on High Fixed rates.

Frances O’Hanlon from FOH Mortgages and Investments Ltd has appealed to those who have mortgages to be careful. “Be careful of what you interpret and apply to your own finances from what you hear and read in the media. You need Independent Financial Advice more than ever in the current climate. An independent advisor is someone who will sit down with you and carefully analyse your financial realities, your future intentions and your goals and help you achieve them.”

With all the conspiracy theories in circulation it is very easy for people to get confused. Giving a simple matter of Fixing your Mortgage; how sure are you about the bank you are with and the rates they offer? Frances says, “There are huge variances in every banks interest rates and offerings and most of the time you don’t ever think you have a choice. When you were told everyone is ‘different’, ‘individual’ and ‘special’ when you took out your mortgage, its important you apply that to you individual financial situations aswell.”

“In recent weeks we have advised people of their mortgage interest rates.
Many were contemplating giving up their brilliant Tracker rate to go Fixed. They came to us for advice and thankfully they don’t have to pay a fixed penalty to get out now. They are the lucky ones.”

The message is simple; Seek Independent advice and take control of your own financial destiny.

For further information contact 052 61 29487