Share service aims to make investment easier

FORMER head of research at Merrion Stockbrokers, Rory Gillen, has launched a service to entice ordinary punters into buying shares.

The number of privately owned shares here is relatively small at about 12% of the adult population, compared with 25% in Britain.

The product, launched yesterday, is backed by a website and free stock market workshops.

Mr Gillen says investing is not “rocket science”. His basic thesis is if people buy into blue chip stocks in Ireland, Britain and the US they will get a good dividend on which to build up savings for retirement or their children’s future.

They will generally outstrip returns from deposits and bonds and give people a decent nest egg at the end of their days.

To get to grips with the market, the ILTB 1-Day Stock Market Seminar is available at a cost of €585.

But the company will give your money back if you are not a satisfied customer at the end of the day. It can’t guarantee market performance, but that’s part of the fun, said Mr Gillen.

Simplicity is his selling point. The company provides back up services and encourages people to join investment clubs where they will learn from each other.

Mr Gillen said as the SSIA’s evolved those who took the equity option were now doing well and the boost to the markets has restored investor confidence to some degree.

His blurb promises ‘Financial freedom delivered to you in one day’ which has a ring of all that’s worst about Americana to it. But Mr Gillen has a track record and insists this is an investment mechanism that is simple to understand and easy to execute, which will deliver in the long term.

It is not a get-rich-quick scheme and he does not claim this to be the case.

His philosophy is based on clients having the information necessary to make a judgement call on where to invest. It is not highly technical and relies on the dividend yield from the blue chip sector to provide the basis for investor choice.

This encourages regular savings and Mr Gillen said the SSIAs have firmly established a savings culture in people who will want to continue to invest for their future.

He even suggested the children’s allowance might provide the spring board for some to start taking a punt.