Superannuation Warehouse is an accounting firm and do no provide any financial advice. All information provided on this page has been prepared without taking into account of the Trustee’s investment objectives, financial situation or needs. The purpose of this page is to introduce Trustees to the different types of financial advice in the market.
Financial Advisors
If you would like to use a Financial Advisor, consider using Jeremy Douglas from Summit Financial Planning, Alex Camacho from ALX Wealth, Joshua Logan from Logan Private Wealth
Jeremy Douglas - Summit Financial Planning
Jeremy has been a licensed adviser for more than ten years, working at Summit Financial Plannig which is based in Cremorne. He has served as a director of several award-winning firms during that time.
Throughout his career, he has helped clients manage their wealth across areas such as investments, superannuation, retirement income strategies, estate planning, and personal insurance.
For further information, see the Summit Financial Planning: Summit Financial Planning | Expert Financial Advisors Australia
Joshua Logan - Logan Private Wealth
Joshua Logan is a CERTIFIED FINANCIAL PLANNER® professional (CFP®), a Certified Investment Management Analyst® consultant (CIMA®), an SMSF Specialist Advisor™ (SSA®) and a Tax (Financial) Adviser. He is the Founder, Chief Investment Officer and Principal Private Wealth Adviser at Logan Private Wealth.
Joshua delivers comprehensive, tailored wealth management advice to wealthy families, pre-retirees and retirees, business owners and equity partners, senior executives and professionals, sudden wealth recipients and family offices looking to outsource their investment function. He specialises in wealth, specifically scientifically backed portfolio construction, investments (including property), superannuation (including SMSFs), pensions, tax minimisation and multi-entity structuring, intergenerational wealth and retirement planning.
With deep experience spanning accounting, investment management and wealth management — including jointly investing and managing approximately $0.5 billion at other firms before founding his own — Joshua is a committed advocate for client-first advice.
His services are free from commissions, product restrictions, third-party payments, and volume-based incentives. Joshua and his team are dedicated to recommending only the most suitable and high-quality solutions available in the market, tailored to your unique goals, values, and long-term objectives. For more information, see the Logan Private Wealth website: https://loganprivatewealth.com.au/
Traditional financial advice
Traditional financial advisors are usually independent practitioners who operate in a fiduciary capacity whereby the client’s interests comes before their own interest. Client are generally required to answer a series of questions allowing the financial advisors to come up with the best investment strategy for the client. With the traditional financial advice, clients are usually in constant contact with their financial advisors so that the advisors are up to date with the client’s investment goals and can therefore make the necessary adjustments if needed. There is a lot of human intervention when managing the portfolio in traditional financial services. The financial advisors will generally issue a Statement of Advice (SOA) to their clients highlighting the recommended investment portfolio the client should undertake. To see a sample SOA by ASIC, please see below:
ASIC Sample Statement Of Advice
Perceived disadvantages to using a financial planner
There is a perception that financial advisors may not be acting in the best interest of their clients. The two main disadvantages to using a financial planner are as follows:
- The fees that are generally charged by most financial planners may be regarded as overpriced
- Some financial planners make investment choices that usually benefit themselves, not the clients. Financial planners may pressure clients to invest in highly risky securities. This could have disastrous outcome for the Trustees as failed investments could mean the loss of their entire retirement Fund. The most recent scandal is the Commonwealth Bank scandal in 2016. To read about the Commonwealth Bank scandal, click on the button below:
FAQ's
Are Financial Advisor fees tax deductible?
Yes, financial advisor fees can be claimed as a deduction under S8-1, if the fees are related to managing current investments or generating assessable income. Advisor fees can also be claimed under S25-5 if it is tax advice given by a qualified tax relevant provider.
Are portfolio establishment and initial Financial Advisor fees tax deductible?
No, these fees are not covered under S8-1 as they are considered capital in nature and hence are not tax deductible.