Danger lurks in conflicting interests

The Custom House Capital scandal shows that separation of powers are needed at investment firms to protect clients' funds and assets, writes Marc Westlake.

13th November, 2011
John Whyte, investment director, and Harry Cassidy, chief executive, Custom House Capital. Photo: Richard Baker

Investor confidence has been badly damaged here in recent years by appalling financial advice involving a lack of diversification, high and hidden commissions, and the mis-selling of financial products.

Battered investor confidence is now being assailed by counterparty risk and the risk that your trusted financial adviser, product provider or broker could potentially misappropriate your life savings and your pension.

This risk arises due to significant conflicts of interest that many investment providers in Ireland...

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