Dolmen                                                                                                  Ruth Allen

A dolmen is instantly recognisable to anyone familiar with Ireland. The ancient celtic giant standing stones have long symbolised solid reliability, and that's the image that Irish stockbrokers Dolmen Butler Briscoe have brought to Glasgow in the last nine months, since choosing the city to set up their first overseas office. And now to cap a successful initial period of operations, Dolmen Butler Briscoe - part of Dublin's Dolmen Securities group - are expanding to new premises and taking on new staff.

Dennis McGuinness, head of stockbroking in Glasgow, explains : "Dolmen Butler Briscoe wanted to set up a Scottish branch to capitalise on the close Irish-Scottish connection, and to be part of the new Scotland developing with the Scottish Parliament." Drawing on his extensive experience from many years of stockbroking in Glasgow, McGuinness spent almost a year steering the company through the complex formalities and legalities required to set up a stockbroking business. "We're regulated both by the Central Bank of Ireland and the Securities and Futures Authority for the Conduct of Investment Business in the UK. It's vital to give people the confidence that they are dealing with a company that meets the highest standards of financial regulation," says McGuinness.

As well as offering individuals and businesses traditional stockbroking services - advisory, discretionary and executory - Dolmen Butler Briscoe feel they have something special to offer, particularly through the Irish connection. "The Irish economy is booming, especially in areas of the future such as technology," says McGuinness. "Through Dolmen Securities we have access to this market, as well as the wider European financial world through Dolmen's German parent companies ERGO and Munich-ER, helped by Ireland's participation in the Euro. The Irish-American connection also gives us unrivalled connections with the USA, and Dolmen's major Research Division gives us the most comprehensive and up-to-the-minute information from every world market. Our long-term research is published in our quarterly "Blue Chip" publication and on our internet site, while the latest information is available daily by e-mail connection."

It is this idea of Dolmen Butler Briscoe as the gateway to world investment that makes them one of the strongest contenders for the business of the would-be investor. "We are confident that, with the backing of our research, we have sound advice to offer any investor, from the smallest to the largest. People who perhaps haven't invested anything up until now are most welcome to come along for an initial advisory discussion, when we can look at their circumstances and requirements and recommend a portfolio of investments to suit them personally," says McGuinness. 

He is aware that in the current age of the internet, there are many investors who are now going it alone on a do-it-yourself investment basis. "They may be thinking they are cutting their costs, but in the long term it is a risky venture," he argues. "The one thing they are not getting is advice - latest world stock market information and longer-term trends that help investors make wise decisions and put their money in a proper spread of portfolios. There is a lot of money going about these days, but unfortunately much of it is just marking time in bank and building society accounts when it could be working for its owners in the stock markets - with the right advice."  With the end of much eyeball-to-eyeball trading on the floor of the world's stock exchanges - Glasgow's included - due to the development of new communications technologies, McGuinness feels that a lot of the benefits of individual contact have been lost. "Dolmen Butler Briscoe strongly believe that there is still a vital need for the personal touch," he says. "Get to know the client, build up a relationship based on their needs and requirements, and from this and our background financial research comes the best advice about investment."

Dolmen Butler Briscoe are confident that their linking of tradition and experience with innovation is a winning combination. Though only a few years old themselves, they are built on the solid rock of the eighty-six years experience of Butler & Briscoe as Ireland's largest independent stockbroker. The company's international expansion, first to Glasgow and soon to London, has brought in a lot of fresh skills to the stockbroking world. "As well as moving to our new offices at 163 West George Street, we are welcoming three new staff - David Shannon, Ian McInally and Christine Chung," says McGuinness. "Working from Dolmen's database of research, their experience and qualifications will add immeasurably to the strength of the advice we are able to give our clients."

McGuinness is optimistic about the European dimension that is now open to investors through Dolmen's Irish base. "If a client wishes to invest in industry, there is very little left in the UK," he explains. "With our pathway to Europe, we can assess the tremendous opportunities in stronger industrial countries like France, Germany and Italy, and advise on the best options. In a situation like this, the client must be the winner." In a financial world that is becoming ever more complex and high-powered - witness the recent merger of the UK and German Stock Exchanges - good, solid, reliable information is at a premium. With their unrivalled research capabilities,  Dolmen Butler Briscoe hope that their new expanded Glasgow base will continue to meet the needs of Glasgow's investors and convince others of the benefits of sound financial advice.


Dolmen Securities
Dolmen Securities - parent company to Dolmen Butler Briscoe - was founded in 1995 as an integrated securities operation by its current managing directors Ronan Reid and Paul McGowan, both well-known and well-respected players on the Dublin financial stage. They took as their company name and logo the dolmen - an ancient Irish megalithic structure which marked the site of a great battle or the tomb of an ancient king. A dolmen consists of three vertical supports topped with a sigle table stone. For Dolmen Securities, each vertical of this perfect geometrical structure represents the equal contribution of the three divisions of the business - stockbroking, fund management and corporate finance - coming together with table stone to represent a complete market service. Backed up by its formidable Dolmen Research division, the company quickly built up a reputation in Ireland, which prompted its move to set up international branches, first in Glasgow in 1999 and soon in London. One of Dolmen Securities' first priorities was to strengthen its stockbroking wing, and its merger with the eighty six year old Dublin Company, Butler & Briscoe did this, making it Ireland's largest independent stockbroker. At the same time, a 50% acquisition of the company by ERGO, the major German insurance group - itself a subsidiary of Munich-RE, one of the largest companies in the world - opened the vital door to Europe and beyond with the promise of a stronger and wider financial and research base.
Ronan Reid and Paul McGowan commented : ".......(approx 150 words)....."