(02) 9138 1010
james@randleadvisory.com.au

FAQs

Do financial advisers need to be licensed?

Yes. We are required to hold an Australian Financial Services (AFS) licence or be authorised to provide financial advice on behalf of a licence holder. Licence holders are regulated by the Australian Securities and Investment Commission (ASIC). Randle Advisory is an authorised represenative of Madison Financial Group, which means we are authorsied to provide financial advice under Madison’s licence. Find out more about Madison.

Will you give me advice suitable to my investment needs and financial circumstances?

Yes. We are required, as authorised representatives of an Australian Financial Services (AFS) licence holder, to offer advice suitable and appropriate for your circumstances.

How long does it take to implement a plan or the advice?

There is no set time frame for implementation as all plans are tailored to your situation. Therefore the plan is unique and the time frame could vary depending on what is recommended.

What should I know about investment risks or the investment strategies recommended?

Appropriate risks associated with your investments will be discussed with you along with any research we hold. If you wish to know about all risks associated with investments, you need to contact us to discuss them.

How much will the initial consultation cost?

There is no charge for the initial consultation. The initial consultation allows us to learn about your current financial situation, objectives and goals. This allows us to determine whether we’re able to provide the advice you require.

How much does financial advice cost?

Adviser service fees, usually charged as a percentage of funds under advice, are negotiable once it has been identified what level of service you require. All fees and costs are disclosed clearly in our Statement of Advice (SOA). An SOA is a formal document detailing your current situation and our recommendation(s). This document also outlines the benefits, advantages, disadvantages, fees and costs associated with our advice.

Will I get detailed information about commissions and benefits my adviser gets?

Yes. We are required by law to disclose any commissions or benefits we receive. These are disclosed in your Statement of Advice (SOA). An SOA is a formal document detailing your current situation and our recommendation(s). This document also outlines the benefits, advantages, disadvantages, fees and costs associated with our advice.

Can a financial adviser help me set up a personal and family budget?

Yes. We can assist you in creating a budget as it is an essential tool in saving and managing your money.

Can a financial adviser help coordinate retirement benefits such as the age pension?

Yes. A financial adviser can help coordinate receipt of the age pension if you are entitled to it. This is something that should be discussed with your adviser shortly before you reach retirement age.

Can a financial adviser help reduce my taxable income?

Yes. We are able to offer advice on several strategies to help you reduce your tax liability.

Can a financial adviser help me track down my lost super and consolidate my super into one account?

Yes. We are able to assist you in finding your lost super. Once found we can also assist you in rolling your benefits into one fund as a way of streamlining your super to both reduce cost and simplify administration.

How long does it take to consolidate super accounts?

The time frame varies between super fund providers. However, rollovers usually take a few weeks to process after all required information is received by the provider.

Can a financial adviser help set up a self managed super fund?

Yes. We can help you set up a self managed super fund. We can also help you set up any affiliated companies needed for the process.

Can a financial adviser help me secure a mortgage or help with accounting?

We have strong relationships with accountants and mortgage brokers, we would be happy to make introductions upon your request.

What type of information do I need to provide?

To make the most of your initial meeting, make sure you are prepared and please bring along the following:

  • Details of all your investments
  • Details of your superannuation fund(s)
  • Details of any personal insurance policies
  • List of current assets and liabilities
  • Budget showing your income and expenses
  • Questions that you would like to ask

The more information you can provide, the more accurate and appropriate the advice.

How is my privacy protected?

Financial planning organisations are required to abide by the National Privacy Principles established under the Privacy Amendment (Private Sector) Act, 2001. Please refer to our Privacy Policy.

What information do you maintain in my file and can I examine my file?

We maintain a record of your personal profile including details of your objectives, financial situation and needs. We also maintain records of any recommendations made to you. You may at any time request access to your personal information, subject to a number of exceptions outlined in our Privacy Policy.

What if I have a complaint?

If you have a complaint about the service provided to you, you should take the following steps:

  • Contact your adviser and tell your adviser about your complaint.
  • If your complaint is not satisfactorily resolved within 20 days, please contact the Risk & Professional Standards Manager on (02) 9930 8888 or put your complaint in writing and send it to PO Box 2129, North Sydney NSW 2059.
  • If you are not satisfied with the outcome, you have the right to complain to the FPA Complaints Resolution Scheme, PO Box 109 Collins St West VIC 8007.
  • The Australian Securities Commission also has a freecall infoline on 1300 300 630 which you may use to make a complaint or obtain information about your rights.

 

We haven’t answered your question? Please send us an email.