by Erika Jonsson When Mike Tooke moved to Australia from the UK, he started thinking about how he could invest his savings locally.
As a finance director, he knew what he wanted. Finding it was the challenge.
“The investment landscape is more mature in the UK, where it’s very common to have online portfolios,” Mike said.
“There aren’t as many options in Australia, and I was looking very specifically for a straightforward investment service that examined risk and was delivered online at a low cost.”
His research led him to Six Park, and he was impressed with the depth of experience at the business.
“The quality of the Investment Advisory Committee was very reassuring, and it was clear that the management team also have a lot of industry experience,” Mike said.
“I’ve always felt that I’m dealing with real people.”
Mike’s investment advice: think globally
Mike owns his home and also has direct share investments, including some company shares from previous employers as well as some actively selected stocks.
While he’s used financial advisers in the past, he now manages his own finances.
“One firm wanted $2000 just to make a recommendation. That’s crazy.”
His advice to investors is to take a global view.
“Look at how the world around you has changed in the past 20 years – there’s been significant wealth creation, standards of living have changed in places like China, Vietnam and Indonesia. China’s now investing heavily in Africa; the world’s a different place.
“If you have confidence in that view of the world, take advantage of it and move away from that home country bias that affects most people.”
Life beyond finance
Mike migrated to Australia in 2010 because many of his friends were living in Sydney. He had planned to retire in the Blue Mountains, but when an ideal home hit the market three years ago, he made the move early and commutes to Sydney two days a week by train.
He’s currently the Chief Financial Officer for Secure Code Warrior, a fintech start-up based in Sydney that focuses on security training for developers.
He enjoys spending time in the garden and also loves photographing road cycling events. He’s also a Sydney Swans tragic and watched Six Park’s Ted Richards’ retirement parade at the 2016 Grand Final. “But that’s not why I chose Six Park – not really, anyway,” he laughed.