FAQ

Commonly asked questions/issues  

1) I have no money to begin investing and feel I need to do something about it, but I think no one will see me until I have built up a few thousand dollars at least.

Many people sit in this spot. You need to take an action that begins the process. We can offer you a consulting session .We will give you some tools, a goal and a roadmap. We will work with you to begin the process and stay with you to help you understand and develop your creation.

2) I don’t want to be invested in a particular way just because the Financial Planner is associated with a particular company. I want what’s best for me not what’s best for the Adviser.

When you see a Financial Planner you simply ask – who holds the Dealers Licence and ask who owns it?

In our case the Authorised Representative is Allenby Consulting Pty Ltd, a privately owned and operated company and the Dealers License is held by MCA Financial Planners Pty Ltd, also privately owned license not owned by Banks and Insurance companies.

Therefore there will be no affiliations or associations. We make recommendations based on multiple sources of independent research.

3) I have superannuation in a few places and was thinking of putting it all in my current employer’s fund.

Good decision, but let’s first look at your current employer’s fund. What does it offer you? Where does it invest? How does it work through the investment process? Will that be dynamic and responsive for your future needs?

We can provide an independent evaluation and make the appropriate recommendations.

4) Explain the cost of using a Financial Adviser.

All financial advisers cost systems are unique to their practise. At Allenby Consulting, our costs are always discussed in the first meeting.

Sometimes the first meeting is complimentary.That meeting may be a brief general discussion where both parties assess comfort levels with each other in view of the long term working relationship. Allenby Consulting does not recommend aggressive tax planning and agricultural investments. Clients will learn of the ethos of Allenby Consulting at that time and they will be given a Financial Services Guide and Privacy Policy.    

In some cases the first meeting is in fact a consultation. Consultations are charged at a rate of $240 plus gst per session  and are due at completion of the session. A consultation is a one off session requiring specific advice.

5) My partner and I need to get help with our finances, but we have trouble agreeing.

This is actually rather common. Many people have different attitudes to money even though they are in a relationship that works well at other levels. It often feels like you never make decisions and move forward - a rather stuck feeling, often causing anxiety spilling over to other areas of your life.

Our approach with couples is to begin from the foundation level. We offer an environment for setting the ground rules of how to work together with money. We offer coaching in financial awareness which is designed to develop and strengthen trust and financial direction. This is never a one session fix.

It is OK to have different Risk Profiles. With superannuation - couples can run separate strategies, but with general finance common goals are absolutely critical.

Discussions on budgeting, banking, credit cards and financial goals are foundation anchors in looking after a couple.

6) I want to see an adviser but my partner doesn’t.

In these instances we work together as best we can, but it is very important that both members of the couple take an interest and attend meetings.

We strongly recommend both members of a couple to attend at least the first meeting.

7) Are Financial Advisers just trying to set me up with investments they can sell me?

A financial adviser is a technical resource on: Superannuation and Insurance Act, Social Security Act and Centrelink, Nursing Homes and the Department of Health and Aging and often the Income Tax Assessment Act. A financial adviser has access to research on the investment markets and is normally educated in the field of economics and finance. The result is a broad skill set very useful for analysing financial issues.

These technical skills combined with personal values needed in any coaching and consulting role - integrity, maturity and awareness; make a quality adviser. Not a salesperson.

8) What can Allenby Consulting do for me?

We can work with you to assess your financial choices and give you options and tools to move forward.

Our aim is to take you on a journey where you feel like you are making forward direction with your finances.

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