A Conversation with Adam O’Rourke of Ulysses Financial Services about what Trump’s Tariffs mean for you… 
- Can you tell us a bit about yourself and your background in financial services? Absolutely, I first started in financial services nearly 15 years ago working in Cornmarket, I was quite young at the time, but Cornmarket where great employers and supported me through my exams. I spent over 2 years in Cornmarket and then moved on to KBC Bank. KBC at the time where only starting to get going in an Irish context, and everything was fast paced, new and exciting. It felt like there was a new product launched most weeks. I spent 8 years there in total, and truth be told, if they had not decided to pull out of Ireland I am not too sure I would have left.
- What is Ulysses Financial, and how does it help people manage their wealth? We are a Financial Broker, and we operate on a Fair Analysis of the Market, meaning we are not tied to any one particular company. We help our clients by providing them with a Financial Plan on how to navigate their specific circumstances, we then also hold regular follow-up meetings to discuss the effectiveness of the plan, along with any changes in circumstances we may need to take into account.
- What does “Liberation Day” mean in a financial context? In a financial context, traditionally “Liberation Day” refers to the moment when you achieve true financial independence—when your assets, investments, and income streams provide enough financial security that you no longer have to worry about money. It’s the day you no longer rely on a paycheck, government support, or anyone else to maintain your lifestyle. President Trump is using this phrase to sell his tariff agenda. In reality, the ironic thing about the tariff policy is that it is more likely to harm American’s financial independence than liberate them.
Q How do Trump’s tariffs affect global markets, and why should we be paying attention?
Trump’s tariffs create market volatility, impacting pensions and investments. They drive inflation, increasing the cost of living, and influence interest rates and currency values, affecting savings and bond yields. Pension funds exposed to global markets may see lower returns if trade tensions hurt corporate earnings. Certain sectors—like manufacturing and tech—are more vulnerable, making diversification crucial, this is something that we have been working closely with our clients on, to ensure that their portfolio’s are diversified enough to not suffer from market shock, and anyone who spoke to me at any of the 50 plus shows would have heard me say diversification is key.
- Could these tariffs cause inflation, and how might that impact pensions and fixed incomes? At the moment the sentiment seems to be wait and see, no one knows if these tarffifs are a ploy just to negotiate better trade deals for the US from a position of power or if this is the status quo going forward. However Yes, tariffs can drive inflation by increasing the cost of imported goods, which raises prices on everyday essentials. For individuals on fixed incomes, such as people living on pension income this reduces purchasing power, making it harder to maintain their lifestyle. Inflation can also lead to higher interest rates, affecting bond yields and investment returns. If pension funds don’t keep pace with inflation, retirees may see a decline in real income. I have been working with our clients protect their wealth with inflation-resistant strategies, throughout this period, as it is important for our clients to feel secure so they can still plan their dayily lives.
- Should we be adjusting their investment strategies in response to economic uncertainty? I wouldn’t say that wholesale changes are needed, but everyone should review their investment strategies to protect against economic uncertainty. Market volatility, inflation, and interest rate changes can erode savings, investments and pensions. Diversification across stocks, bonds, real assets, and income-generating investments helps reduce risk. Inflation-resistant assets, such as dividend stocks and inflation-linked bonds, can preserve purchasing power. Avoiding overexposure to volatile sectors is also key.
- Are there specific sectors or asset classes that could be safer during tariff-related volatility? I think the important thing is that people engage with a financial broker or wealth manager, you are more likely to realise a loss if you are not engaging with a qualified financial advisor, but, during tariff-related volatility, some sectors and asset classes tend to be more resilient. Defensive sectors like healthcare, utilities, and consumer staples remain stable as they provide essential goods and services. Dividend-paying stocks and inflation-linked bonds help protect against rising costs. Real assets, such as property and commodities, can hedge against inflation. Cash reserves and gold provide stability during market swings. I would like to emphasise the importance of having a plan, dealing with a Qualified Financial Advisor before making any investment decisions.
- Do you offer any consultations or financial reviews for seniors looking to secure their financial wellbeing? Absolutely, we are happy to complete a financial review of someone’s existing savings, investments and pension arrangements and provide them with advice on the best course of action. While we discussed a number of options and potential areas to explore for people to safeguard their pensions and investments, I would recommend that before doing anything, to engage with ourselves, let us consider your financial circumstances and provide a recommendations and plan based on your existing circumstances.
Before making any changes to your investments, speak with us first. Let’s create a plan based on your unique financial situation.
Call us today: 01 564 5844 / 087 474 1176
Email: adam.orourke@ulyssesfinancial.ie
Let’s secure your financial future—starting now
