Brook Logan – AFP, Grad Dip CA, ADV Dip FP, B.Comm

Why did you become a financial adviser?

I had a fantastic career as a chartered accountant and as a finance person in the business community, however I was left unfulfilled. What impact was I really having? I have a love of business, and personal finance, so I brought my existing skills together and with formal financial advice education I became a financial adviser. I now have a sense of purpose that I was previously missing.  To be able to provide such a positive impact on my client’s lives and not just in a financial sense, gives me great pleasure.

What is important to you?

My family is the most important thing to me, I might not get it right all of the time, but I try to be compassionate, listen to their issues, problems, loves and always participate in what is going on in their lives.

Professionally it is important to me that my clients achieve life success not just financial success. Ensuring that my client’s make smarter, informed and educated financial decisions is the goal but knowing that during the hiccups we can pick them up and get them on your way quicker.

Why Independent?

Commissions, trailing fees, referral fees all affect decisions that people make and as a client you are paying for this whether you know it or not. Being independent brings simplicity and transparency to the fore, we are incentivised by our clients long-term results and success and we know this will help the business grow (not on market linked increases, investment product or higher insurance premiums etc).

We have seen from the Royal Commission that these incentive payments affect decisions for investments, insurance, SMSF and administration of an SMSF, property investments and superannuation. We Say No.

What is your philosophy about wealth and life?

Your finances are intrinsically linked to your life, however the amount of wealth you have is not the determining factor in your happiness. We focus on what is important about your life to you and we build your finance strategies around this.   By having a comprehensive Financial-Life Plan you will have the clarity, confidence and focus to achieve your life goals.

We obviously help our clients create more wealth over their lifetime, but we always bring it back to what matters to them the most.  There are different strategies to increase, protect and distribute wealth and all have different risks, cashflow requirements and stresses. This is where a great adviser asks the right questions to get to know and understand his clients and educates them. The result being clients make the right decision both financially and non-financially and they live a better and more confident life.

What is your investment philosophy?

Simplistically at Logan Financial Advisers we believe that lower cost evidence based investment over the long-term pays off.  Less fees, less likely to underperform, less risk by not being a “picker” , less stress, more diversification equals more money in your wallet – you get an automatic saving by not having to pay high investment fees, which due to the nature of compounding returns is a no-brainer.  We also steer away from costly investment platforms and wrap accounts where possible as they just add to the cost of investing. We like Self-Managed Superannuation Funds, however the reasons to start one or maintain one needs to be compelling.  We do like industry superannuation funds but they have varying levels of costs and you really need to understand their asset allocation to be able to effectively compare them.

Whilst we prefer a low-cost evidence based investment portfolio in the sharemarket for many reasons, we also like property as an investment option for the right investors.  We have a relationship with a great buyer advocate who will steer you away from off-the-plan, smaller footprint apartments and show you the benefits of established property in good areas of Melbourne.  We can show you strategies and effective structures to make this happen, but you must understand the hardwork, pitfalls and costs of investment properties before launching into your property investments.

Again we don’t charge fees based on your investment holdings, so we are free to choose the right investments for you and you save more money.

What are your thoughts on personal insurance?

There are many reasons to have personal insurance, to look after your family, protect your lifestyle, it really does make life easier should you fall to an illness/injury, disability or death. The monetary support from personal insurance has an overwhelming positive impact in generally dark times. It can also be used for estate planning as an inheritance to leave to others and for other business purposes.

The most important thing is to really understand the importance of personal insurance in protecting your wealth and lifestyle, many people fail to give it much consideration believing the ole Aussie term “she’ll be right mate” but she won’t be.

We take you through a  process to calculate your insurance shortfall and determine how much insurance you can afford to have or afford not to have.

As we do not receive commissions, you save directly on your premium costs and we have no incentive in recommending high sums insured or unnecessary options.   Yes using an independent adviser will help you save money on your personal insurances.

Why is proper estate planning so important? Can’t I just deal with it later in life?

Estate Planning is important in all adult stages of life. By having a proper estate plan in place, you can distribute your wealth tax effectively, put measures in place to safeguard your wealth from outsiders (including the tax man, boyfriends/girlfriends etc) and most importantly it provides a robust process for the handling of your affairs upon death or diminishing capacity.

Don’t leave your loved ones with a mess – leave them with a lasting legacy.

With my mantra of getting personal with your money below are some personal questions about my life that I hope you enjoy

You worked overseas for almost 6 years can you tell us about that experience

After my wife and I married, we travelled around Europe for 3 months and began our married life in Bermuda. Bermuda is less than 2 hours off the coast of New York, not to be confused with the Caribbean which is much further south.  The plan was to work hard and enjoy a wonderful lifestyle.  It was brilliant, we both furthered our careers and I became CFO of a successful local insurance and pensions business and we enjoyed our weekends on a small boat that we had purchased with our Canadian friends.  Every weekend was a holiday. We met the most lovely people who are now life-long friends.

This period taught me a lot about work/life balance and how important it is to find and how difficult it is to maintain before finally realising that sometimes it is not supposed to be in balance.

What do you like doing on the weekend?

I love spending time with my wife and daughter (as well as our friends and family).  We have a Sunday ritual of heading down to the South Melbourne Market in the morning for a coffee and sometimes an almond croissant then off to buy fresh meat, fish, vegies for the week.  (it’s also great for the weekly budget but that’s just a side benefit).

I also enjoy a bit of adventure in that I own a KTM-450 dirtbike.  Getting out of town for the day with friends and family and hitting the tracks is exhilarating.  It’s a bit of a contradiction as I’m conservative by nature, but I love getting out in the bush and throwing my bike around the fire-trails and having a sense of freedom.

I also enjoy watching the AFL(Hawthorn) and cricket.  I don’t play in the VAFA anymore, but I still reminisce.

Question that is most often asked of me?

There are two. How tall are you? Followed closely by, do you play basketball?  I’m 6’6 and  yes I still play a bit of social basketball, in my younger years I was more focused on my football playing VAFA football with Old Brighton in A&B grade.  I enjoy the questions as it is a great conversation starter.

Favourite restaurant

Ayame Japanese Restaurant, Glenferrie Road Malvern – great fresh produce and a prawn sushi roll with a delicious special sauce that just melts in your mouth.

Favourite Café

Green Goose Café in Station Street Malvern – great coffee and breakfast.  As you can tell, I like to stay in my local area.

Favourite holiday destinations

In Australia – We love Robe in South Australia, quiet beach town, great fresh fish and lobster and Coonawarra wineries not far.  Port Douglas to get away for a week from the Melbourne Winter.

International – can’t go past New York. Whilst we worked in Bermuda we spent a bit of time there enjoying the different areas that NY has to offer.  I’d love to spend 3 months living like a local and doing daytrips. I could also see myself traversing Europe for wine, food and scenery.

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