Allan Hall Financial Planning team with Mark O'Connell in centre

Allan Hall Financial Planning retirement

Posted on 5 February 2024 | by Allan Hall

Mark O’Connell Farewelled after a Decade of Outstanding Service

As the curtains drew to a close on 31 December 2023, the Allan Hall Financial Planning team bid a fond farewell to one of its senior advisors, Mark O’Connell, who retired after an illustrious 10-year career with the company.

Mark’s invaluable contribution to the financial planning team has left an indelible mark on Allan Hall, and his retirement is celebrated as a well-deserved culmination of a successful career.

During his time, Mark played a pivotal role in shaping the success and growth of Allan Hall Financial Planning. His dedication and expertise were instrumental in establishing the firm as a trusted name in financial advisory services and the team is grateful for the wealth of knowledge and experience he brought to the table.

The Allan Hall Financial Planning team, now under the capable leadership of Robin Bell, consists of three advisers and three support staff, all of whom boast extensive knowledge and experience in the financial services industry. The team prides itself on its commitment to providing comprehensive financial planning advice, covering areas such as wealth accumulation, retirement planning, wealth protection, superannuation, investments, and personal and business insurance.

Over the last 12 months, Mark’s valued clients have undergone a seamless transition to two highly qualified advisers within the team — Martin Cimino and Angelo Adam. Martin, who joined the team in February 2023, brings a wealth of experience from a successful stint as a partner/director of a financial planning company, where he also served as a Senior Private Wealth Adviser since 2010. Angelo, an adviser since 2019, has been instrumental in assisting clients with their personal insurance needs.

Allan Hall Financial Planning takes pride in its diverse and loyal client base. Situated in the ‘Lifestyle Working’ building in the heart of Sydney’s Northern Beaches, the office provides a modern and inviting environment for both clients and employees. The open-air meeting spaces and light-filled offices foster innovation and vitality in the workplace, making it an ideal setting for client interactions.

As an integral part of Allan Hall Business Advisors, the financial planning team collaborates closely with accountants, tax advisors and SMSF specialists. Acting as a ‘financial coach,’ the team ensures that clients’ financial and lifestyle goals are thoroughly understood and met across various areas. This holistic approach sets Allan Hall Financial Planning apart, making it a trusted partner in guiding clients through their financial journey.

Mark O’Connell’s retirement may mark the end of a chapter, but the legacy of his contribution endures as Allan Hall Financial Planning continues its commitment to excellence and client satisfaction. The team looks forward to the future, building upon the foundation laid by Mark and embracing new opportunities for growth and success.

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Allan Hall Secures Top 50 Position in Prestigious Accountants Survey

Posted on 22 November 2023 | by Allan Hall

Allan Hall Business Advisors has retained their Top 50 position in the Australian Financial Review’s Top 100 Accountants Survey for 2023.

In a testament to unwavering commitment to excellence, Allan Hall Business Advisors has proudly held its position as one of Australia’s leading accounting firms in the Australian Financial Review’s Top 100 Accountants survey.

Securing an impressive #45 ranking, Allan Hall continues to stand tall among the accounting sector, reaffirming its status as a trusted and reliable partner for businesses and individuals alike.

Having a Top 50 ranking is more than just a number; it represents over 60 years of dedicated service and expertise. Since inception, Allan Hall has been resolute in providing high-quality accounting and business advisory services, consistently adapting to the evolving financial landscape and delivering value to clients.

What sets Allan Hall apart is not just longevity, but also the breadth of services available and the calibre of staff. The firm’s range of services goes beyond traditional accounting, encompassing financial planning, business advisory, self-managed super funds, home loans and more. This holistic approach to client service reflects Allan Hall’s understanding that modern businesses require comprehensive solutions to thrive.

The strength of Allan Hall lies not only in its services but also in its people. The team comprises seasoned professionals who bring a wealth of knowledge and experience to the table. Their dedication to being across industry trends ensures that clients receive advice that is not only reliable but also forward-thinking.

Beyond the professional achievements, Allan Hall’s #45 ranking also reflects an extensive involvement in the Northern Beaches community, with commitment to giving back and actively participating in local initiatives that align with Allan Hall’s values.

Read the full AFR announcement here »

Allan Hall was named Business Advisory Firm of the Year at the 2023 Australian Accounting Awards and also Best Business Advisory Firm by the 2023 Beaton Client Choice Awards. These accolades reflect Allan Hall’s consistent dedication to innovation, client service and community involvement.

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Allan Hall named Financial Planning High Achievers

Posted on 29 September 2023 | by Allan Hall

Consultum Announces Winners of 2023 Reward & Recognition Program

Consultum Financial Advisers, a full-service licensee providing support to a national network of financial advisers across Australia, announced the distinguished recipients of their 2023 Reward & Recognition program, unveiled during the National Conference ‘Connect 2023’ held in Auckland, New Zealand this month.

The Consultum Reward & Recognition awards program is a testament to excellence and dedication within the Consultum community. They spotlight the outstanding achievements and contributions of individuals and practices that have consistently excelled throughout the year.

This year’s program witnessed an exceptional level of competitiveness, featuring an array of nominations that showcased Consultum’s member talent pool. This year’s Consultum’s High Achieving members were recognised with 10 Financial Planning firms across Australia.

Allan Hall Financial Adviser Rob Bell expressed congratulations to all who participated, underscoring the spirit of collective recognition within the network.

“We remain grateful for the ongoing dedication and passion of our team, whose collective efforts propel our performance to new heights,” Rob said.

Last year, Allan Hall Financial Planning was recognised by Consultum by naming Laura Staddon Support Person of the Year 2022.

CONTACT ALLAN HALL FINANCIAL PLANNING

Teaching children healthy money habits

Posted on 31 July 2023 | by Allan Hall

Set a good example for your children with just a few simple changes

As a parent, you try to ensure your children have the skills to make smart financial decisions. But did you know that you could be sending them negative money messages without meaning to?

Here are some useful ways you could teach your children healthy money habits.

Revealing the magic behind digital money

Your children have likely seen you pay for hundreds of transactions without glimpsing cash changing hands. For small children, it can seem like money problems are solved with magic – just wave or tap a plastic card. This makes it important to discuss the value of money with them. A good way to start is to explain how your earnings get deposited into your bank account and how you use this account to pay bills. For older children, consider showing them how taxes are deducted from your salary.

Spending wisely

Frequently buying things on impulse could send the message that it’s fine to spend without planning. Sticking to a budget is key to avoiding impulse buying. To set an effective budget, consider working with a professional financial adviser. Your adviser may help develop a budget that factors in your income, expenses and financial obligations.

Teaching them independence

It’s convenient to do everything for your children. But by giving them a chance to have their own money and decide how and where to spend it, they could learn powerful lessons about budgeting. For adult children, always offering them financial help can create a cycle of dependency. Letting them make their own money decisions could help them develop financial responsibility.

Including them in budgeting

Many parents keep household financial planning and budgeting to themselves. While you don’t have to fully involve your children in managing your family’s finances, giving them a role to play, such as getting them to do grocery shopping using a set budget, can teach them lessons about money. If your children are old enough to earn some income, why not get them to pitch in to help achieve a family goal?

Using your influence positively

You can strongly influence your children in relation to money, so it’s important to pass on smart money management skills. If you don’t know where to start, consider reaching out to your financial adviser to help you stay on top of your finances through proper planning and budgeting.

CONTACT ALLAN HALL FINANCIAL PLANNING

General Advice Warning

The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs and, where appropriate, seek professional advice from a financial advisor.

This site is designed for Australian residents only. Nothing on this website is an offer or a solicitation of an offer to acquire any products or services, by any person or entity outside of Australia.

Mark O’Connell, Robin Bell, Martin Cimino, Angelo Adam and Allan Hall Financial Planning Pty Ltd are Authorised Representatives of Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323. Consultum Financial Advisers Pty Ltd is a member of the Insignia Financial Group of companies.

Consultum National Conference 2022 Award

Posted on 19 August 2022 | by Allan Hall

Laura Staddon awarded Consultum Support Person of the Year

Financial Planning dealer group Consultum celebrated the achievements of their Financial Planning member firms who stood out over the past year at their national conference in Port Douglas this month.

Allan Hall Paraplanner, Laura Staddon, was named Support Person of the Year and Allan Hall Financial Planning was named a High Achiever Top 15 firm.

AHFP Principal Adviser Mark O’Connell said he could not speak highly enough about Laura’s work ethic, attention to detail and outstanding technical knowledge.

“She has absorbed, dissected and put into place the unbelievably complex compliance requirements that are now imposed upon us,” said Mark.

“Nothing is too much trouble and Laura’s positive, cheerful demeanour never changes.”

The success of a practice depends heavily on the support staff within it.

Assessment for this award is based on capabilities which might be linked back to one or all areas of client engagement, technology enablement, efficiency, process execution, drive and professional conduct.

“Laura is our Senior Paraplanner but also is essentially the Office Manager,” Mark added.

Consultum CEO Peter Ornsby said, “A big congratulations to the finalists and winners of our FY22 Reward & Recognition program. We should be extremely proud of the talent we have within our group, and this year’s award winners are an absolute testament to this exceptional quality.”

Allan Hall Business Advisors was also named Wellness Program of the Year winner by the 2022 Australian Accounting Awards and Best Business Advice Firm, Best Self-Managed Super Fund Firm and Best Auditing Firm by FirmChecker. Allan Hall is a previous award recipient of Australian Firm of the Year (2021) and is an AFR Top 50 accounting firm.

CONTACT ALLAN HALL FINANCIAL PLANNING

Be in control of your retirement

Posted on 27 June 2022 | by Allan Hall

Are you approaching retirement?

Then chances are the funding of your lifestyle in retirement may be on your mind.

Take steps now to avoid getting caught short on retirement income and live the retirement lifestyle you want.

The qualifying age is increasing by six months every two years until it reaches 67 in July 2023. The Age Pension age increased to 66 and a half on 1 July 2021.

If for example, you are planning to retire at 60 you will need to wait until you’re 67 before you can apply for the Age Pension. You’ll have to rely on your own savings and super in the interim, making it crucial to ensure you have enough money put away for later years. But the good news is that there’s still time to grow your retirement savings.

Boost your super

Contributing more to your super can be a reliable route to bolstering your retirement fund. By making extra contributions through salary sacrifice, you can grow your super and at the same time reduce the amount of income tax you pay. The government will tax your salary sacrificed contributions, within the allowable concessional contribution cap, at 15 per cent, which may be much lower than your marginal tax rate.

Making non-concessional or after-tax super contributions is another option. Generally, you can contribute up to $110,000 each financial year if your total super balance is less than $1.7 million at 30 June of the last financial year. To understand how these contributions work, it’s wise to get professional advice.

Beef up your savings

Your personal savings outside of super can supplement your super payments in retirement. But are they growing enough now to provide you with some level of income when you retire?

To build up your savings, you may have to invest part of it and make sure it’s growing faster than the rate of inflation over the long term. You should seek professional advice to see what investments are appropriate for you.

Know your entitlements

Besides the Age Pension, you may be eligible for other government benefits and concessions. For example, you may be eligible for a concession card such as the Pensioner Concession Card (if you are receiving the Age Pension), Commonwealth Seniors Health Card or the state-based Seniors Card. Concession cards like these may entitle you to discounts on some commercial and public services. Concessions that allow you to buy prescription medicine at a discount may also be available.

But keep in mind that these benefits have strict eligibility rules. There’s also no guarantee that these entitlements will still be available by the time you retire. So, take charge of your retirement.

Working with your financial adviser, you can develop a strategy that helps ensure you’ll be well provided for regardless of changes to pension policies.

CONTACT ALLAN HALL FINANCIAL PLANNING

General Advice Warning

The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Mark O’Connell, Robin Bell and Allan Hall Financial Planning Pty Ltd are Authorised Representatives of Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323.

Why aged care matters

Posted on 7 February 2022 | by Allan Hall

It’s important to explore options whilst you can make informed decisions

The last couple of years have been tough on a lot of people with the COVID pandemic throwing the world into chaos and taking a toll on our physical, mental, financial and emotional wellbeing.

If you have had a family member in aged care over the period of lockdowns and were not able to visit them or help care for them, you were probably even more grateful to the staff who turned up day in and day out to care for the residents. This highlights, even more, the importance of having options when it comes to aged care, and getting it right for you.

Accommodation options in retirement and aged care

Own home – if you choose to remain in your own home there are a range of services that can be provided under a Home Care Package (HCP). These may include personal care, clinical support and light home duties. A HCP can be hard to secure with greater demand than supply. As at 31 March 2021 there were 183,376 people who had accessed a HCP. This is a 20.7 per cent increase since 31 March 2020¹.

There is also a Commonwealth Home Support Program which is assessed by the regional assessment service to determine the type of in-home care needed.

Retirement village – a retirement village is a residential option offering a community lifestyle designed specifically for the needs and lifestyles of people over age 55. Most retirement villages offer self-contained accommodation for independent living. They may also provide services such as meals, cleaning and personal care for an additional fee.

Aged care accommodation – residential aged care is a purpose-built facility that offers specialised care for those who need assistance with their everyday living. The services provided may include:

on-call staff for assistance
meals
basic accommodation services such as furnishings
cleaning and general laundry
bedding
maintenance of buildings and grounds.

Additional services (such as hairdressing, outings or a cafe) are offered by some aged care residential facilities at an extra cost.

Accessing accommodation packages

A conversation with an Aged Care Assessment Team (ACAT) is the key to accessing what packages are available to an individual to help determine if a home care package can be secured, or if entry to residential aged care accommodation is the more suitable option.

An ACAT assessment is done by doctors, nurses and social workers to assess the physical and mental needs of the individual.

Choosing an aged care facility

The decision on which aged care facility to choose is made by the prospective resident and their family. This decision may be largely based on accommodation cost and availability, but consideration should also be given to family circumstances, quality of the accommodation and facilities, reputation of the facility, closeness to family and friends and other personal and emotional factors.

It’s important to remember there are often long waiting lists for entry to many facilities, so it’s a matter of weighing up the urgency of entry and the availability of preferred facilities. The sooner you consider your aged care options and get onto a waitlist, the easier it is to make the transition. In saying this, you should also be prepared to move rapidly once a facility can accommodate you, as places tend to be assigned very quickly and if you take too long to decide, it may be offered to someone else.

Other considerations

This article barely scratches the surface of things you need to know when it comes to your aged care, or that of a family member or close friend. There is a lot to understand when it comes to costs, whether the family home needs to be sold or can be retained, impacts on the age pension for those in receipt of this social security payment and thought to ongoing income.

Talk to a Financial Adviser

With so much to know about this very important decision around how you, or someone you care about, will live out their final years, it’s important to get all the facts from a qualified Financial Adviser who understands the aged care system and can provide options and advice, giving consideration to your individual circumstances.

Make an appointment today to discuss aged care, it’s important to explore your options while you are of sound mind and can make informed decisions.

General Advice Warning

The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Mark O’Connell, Robin Bell and Allan Hall Financial Planning Pty Ltd are Authorised Representatives of Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323.

Source

*IOOF Survey 2020: The True Value of Advice – A study of 12,643 Australians is an Authorised Representative of Lonsdale Financial Group, ABN 76 006 637 225, AFSL No 246934. This is general advice only and does not take into account your objectives, financial situation and needs. Before acting on this advice, you should consult a financial adviser.

Financial advice helps you achieve more

Posted on 20 December 2021 | by Allan Hall

Whatever you want to do, you’re more likely to do it with the help of some sound financial advice.

We all have something we’d like to be doing more of. It could be spending more time on hobbies, less time at work and more time raising a family, more time travelling the world or reducing working hours as we get closer to retirement.

One thing we all want to make sure of is that we have a steady income stream to make the most of what we really want to do – now and in retirement.

That’s where the power of financial advice has been proven to help those with a goal achieve what they want.

Of those who set goals with a financial adviser, 86% said financial advice helped them achieve their goals.*

This key insight came to light in a groundbreaking survey of over 12,000 Australians in conjunction with CoreData. It found the benefits of financial advice helped no matter your age, wealth or gender.

So, if you want to achieve your very own goal and have a comfortable life, it’s more likely to happen with some financial advice.

We can provide you with professional advice for your financial planning needs. Call us today to arrange a meeting.

General Advice Warning

The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Mark O’Connell, Robin Bell and Allan Hall Financial Planning Pty Ltd are Authorised Representatives of Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323.

Source

Four Ways to Teach Children Healthy Money Habits

Posted on 15 November 2021 | by Allan Hall

Set a good example in doing a healthy money habits for your children with just a few simple changes.

As a parent, you try to ensure your children have the skills to make smart financial decisions. For example, you tell them about the importance of saving or the power of compound interest.

But did you know that you could be sending them negative money messages without meaning to?

Here are four common ways you could teach your children healthy money habits.

1. Revealing the magic behind digital money

2. Spending wisely

Frequently buying things on an impulse could send the message that it’s fine to spend without planning. Sticking to a budget is key to avoiding impulse-buying. To set an effective budget, consider working with a professional financial adviser. Your adviser can develop a budget that factors in your income, expenses and financial obligations.

3. Teaching them independence

4. Including them in budgeting

Using your influence positively

General Advice Warning

The information contained on this website is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Mark O’Connell, Robin Bell and Allan Hall Financial Planning Pty Ltd are Authorised Representatives of Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323.