Allegra for Not For Profits Specialised advice and solutions for
Who is Allegra?
Allegra Wealth is a boutique financial advisory business based in Canberra, which commenced operations in July 2012.
The principal of Allegra is Grant Alleyn. Working alongside Grant on a day to day basis is business partner Mitch, Tobias, Brooke, Frances and Dean. Together our proven teamwork and complementary skills make Allegra an integral part of our clients thriving financial future.
Grant and Mitch own Allegra Wealth Pty Ltd and Grant is the responsible manager for the Licence. There is no external or institutional ownership or influence of Allegra.
Our current clients include Religious Congregations – a speciality of Allegra and other Not-for-Profits. We provide objective, strategic advice to our clients for an annual retainer.
Allegra is welcoming new Not-For-Profit clients.
We currently work in partnership with Perpetual Multi Asset, on a consultancy basis, that helps Allegra build customised investment solutions for all our clients.
Allegra is a member of the Responsible Investment Association Australasia (RIAA), who is dedicated to ensure responsible investing and a sustainable financial system.
A team approach
Allegra has purposefully developed alliances with other parties so as to mitigate risk, outsource non-core functions and source better solutions e.g. use of non-propriety custodians, asset consultants, etc. Importantly, we act as your agent and sit on your side of the table.
Allegra Wealth is not a one-man band – we are the Conductor of the Orchestra.
The goal is to build a team of best in class experts. The word orchestrate means to arrange, to integrate, to manage and to unify.
To continue the analogy, the role of Allegra is to:
- Select the team – asset and esg* consultant, investment platform, fund managers
- Lead that team
- Set the standards
- Enforce processes
- Assess performance, and
- Co-ordinate efforts.
* Environmental, Social & Governance
The leaders of NFP’s carry a heavy responsibility for the successful stewardship of their financial resources and investments during their tenure.
Leaders can suffer from financial information overload, general inertia and advisers placing too great a focus on investment issues only. Investments need to be made within a decision making context so as to enable conviction and clarity.
Allegra provides context by:
- providing clarity as to the NFP current financial trajectory, through exhaustive what-if analysis of the NFP needs and ultimately maximise the probability that the NFP will meet its financial objectives.
- providing a sounding board and a gateway to the world of finance and investments from an adviser who does not manufacture investment product(s)
- provide regular and meaningful reporting benchmarked against specific objectives and markets
- meeting regularly with NFP leaders so that issues can be discussed openly and thoroughly
The value to NFP’s is that the leadership of the NFP will be making decisions in a focused, informed and contextual manner. There is also a much more rigorous framework in place for making financial decisions and progress is measured ad adjusted accordingly
A responsible investment solution
We believe that NFP’s have a duty and it is best practice to implement investment solutions in a responsible fashion. This includes taking Environmental, Social and Governance (‘ESG’) issues into account.
We start with client values and beliefs and then build out the client investment policies and processes to capture those beliefs.
We then build a portfolio based upon “real” and “deep” fund manager engagement and continuous portfolio improvement. We filter out the “greenwashing” of some products and solutions to ensure that NFP’s are truly making a difference in the way they invest.
Lastly, we build bespoke portfolio reporting that incorporates reporting on ESG and other issues.
Who do we provide it for?
Within the Not-for-Profit sector Allegra Wealth specialises in advice for Religious Congregations and Cemeteries.
Grant has been advising Religious Congregations for over 10 years and has also been on the Finance Advisory Council of ISMAPNG (Institute of Sisters of Mercy of Australia and Papua New Guinea) since 2011.
Frequently Asked Questions
Allegra is committed to providing a high standard of client service.
This includes being completely transparent in the way in which we charge for our services and being proactive with important information which may assist you with decision making throughout our relationship.
Should you feel less than satisfied with the service you receive, we will ensure that we take your concern seriously and ask that you notify us immediately to have the issue resolved.
Your complaint may be lodged either verbally or in writing and should be initially raised with your adviser.
If you are not satisfied with how your complaint was handled, we must direct your concerns to the Australian Financial Complaints Authority (AFCA), a service for which we are a member, within 30 days.
AFCA contact details:
GPO Box 3, Melbourne VIC 3001
Tel: 1800 931 678
We are happy to meet with the Leadership of the NFP to understand your current situation and needs and whether we are best positioned to help. We seek to make sure we understand your organisational goals and importantly discuss and address any concerns you may have with receiving financial advice from Allegra.
We are also happy to provide client referees and do not charge for the initial meeting(s).
Allegra is looking to grow its NFP client base as we believe most advice for NFP’s is too product focused and relatively expensive. Perhaps, too much emphasis on the financial and not enough on the planning.CLOSE
We provide personalised advice to a limited number of clients so we prefer to engage on a face to face basis and do not produce newsletters or provide seminars.CLOSE
Allegra uses administration platforms – Macquarie WRAP and Netwealth – to administer and manage client portfolios. The leadership of NFP’s is often changing so we seek to be able to change the operating instructions quickly and effectively. Often NFP’s have investments spread widely and administration becomes cumbersome and inefficient.
Allegra uses an Asset Consultant to assist us build customised investment solutions for clients. Presently, we are working closely with Quilla Pty Ltd, as our asset consultant.
Allegra also outsources all of the funds management function to 3rd parties. We do not manage any monies in-house. We select those fund managers after an audit of their capabilities and commitment to Environmental, Social and Governance matters.
Importantly, we choose to implement client portfolios in a way that they are totally portable. You should be able to pick up our portfolios and move to a new adviser without having to unravel the whole portfolio.CLOSE
We receive no commissions, placement fees, brokerage or any other form of product related income.
We charge a fixed fee retainer on a quarterly basis.CLOSE
Our investment beliefs are spelt out clearly in our document – “How We Manage Your Money”. We have a high level of conviction around risk profiling and construction of investment portfolios.
Risk profiling is centred around Longevity Risk (running out of money), Sequence Risk (order and timing of investment returns) and Drawdown Risk (size of potential decline in portfolios). Risk profiling for a NFP is interesting in that you need to juggle personal risk profiles of the leadership team versus the risk profile needed for the NFP to be able to achieve its goals.
Our investment beliefs are centred around the use of dynamic asset allocation; diversification of asset classes and securities; that starting valuations matter; a wariness around historical correlation between assets, and; effective and efficient use of the “fee budget”.
We have an Investment Committee to continually test our beliefs and to ensure our investment strategies are robust, active and in the best interests of our clients.CLOSE
Allegra has developed its proprietary ‘REAL’ ESG (Environmental, Social & Governance) approach, named as such to distinguish it from the proliferation of ‘green-washing’ models currently existing in the marketplace. The approach consists of six steps:
- Alignment with client beliefs, objectives etc.
- Reviewing and amending client policies and processes.
- Portfolio and Fund Manager bench-marking.
- Deep Fund Manager ‘engagement’ to determine their real ESG bona fides.
- Continuous portfolio improvement.
- Annual Review and Reporting.
We charge an on-going quarterly fee according to the needs of the NFP. There are no upfront or exit fees.CLOSE
Larger firms are more corporatised which has both advantages and disadvantages.
There was a time when only larger firms had access to administration platforms and reporting. There was a time when only larger firms could get access to fee rebates on fund management solutions. There was a time when only larger firms could handle the complexity of a NFP’s affairs. There was a time, and perhaps still is, where advice from larger firms was subsidised by the products sold.
Technology and competition has now closed that gap so that smaller firms like Allegra, are able to compete effectively. We can now bring advice solutions to our clients in a personalised and effective way and retain that closeness and nimbleness with the client.
Allegra also maintains Professional Indemnity cover to the required level and most importantly, literally stands behind the advice we give because at the end of the day all we have is our reputation.
Allegra is a smaller firm with a limited number of clients. We provide personalised advice for each of our clients and know our clients and their affairs, intimately.
Allegra acts as your agent in bringing together the administration and management of your portfolio – asset consultant, esg advice, fund managers, administration, etc – at a competitive price and with any fee discounts or rebates passing directly to you, the client.
Allegra has experience in this sector and provides stability and consistency moving forward.