Blog – McCarthy & Associates – Galway Talks, 07/01/2016

Issue: Vodafone Shareholders need to take action in relation to Verizon Shares by the end of February.
Comment: Vodafone Shareholders received shares in Verizon some time ago. For most people this is more of an irritant than an investment, as they receive considerable documentation year in year out.
Shareholders recently received correspondence outlining a dealing facility if they wish to dispose of their Verizon Shares by the end of February. After that Verizon Shareholders will have to contact the US if they want to sell their shares, which will be considerably more expensive.
I would advise if you hold these shares, you should act before the end of February.

Issue: Recent research shows one third of all property sellers are investors and that there has been a large increase in the number of home buyers aged over 40.
Comment: The dysfunction of the Irish housing market has been flagged by many indicators over the last 18 months.
Now we see further proof of this, as research shows there has been a large increase in house buyers over the age of 40. This is because; people in this age bracket are financially stronger and are able to meet the Central Bank criteria. This has resulted in a situation where many buyers, are disenfranchised from entering the market as their financial position is much weaker when they are younger.
Further evidence also shows that a third of all property sellers are investors. These people may have been investors who bought one or two properties and found the experience financially unnerving! With a reduced number of investor purchasers in the market it is safe to assume that these properties have been bought by home buyers.

Question: I recently contacted my bank about withdrawing some monies, which I was reinvesting in another institution. I have to say that the trouble I was put to by this bank was not funny! Is this a common experience with other customers of banks?
Comments: This is one issue that irritates me considerably. You are not alone in the experience you had, as banks are becoming more difficult to deal with when you try to withdraw your money, as they are constantly trying to sell customers new products. I have come across many instances where customers have been hounded! when attempting to withdraw money to invest elsewhere.
Always remember it is your money (not your banks). Do not tolerate any sales pressure they try to subject you to.