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26 Nov 2013 (AFR) – Sophisticated investor label may be flawed

[COMMENT: Well, roll me in honey and stick me on an ant hill!!  The authorities are finally realising what many investors already know…. the “sophisticated investor” label may be flawed!!  It’s about time they woke up to this one. Full marks and all support to Giselle Roux for highlighting this and running with it, and being brave enough to speak out.]

(26 Nov 2013, AFR, p18, Joyce Moullakis and Ruth Liew)

‘Senior finance industry participants have hit out at selling practices within the sector, amid claims the definition of a sophisticated investor is being used in some cases to improperly sidestep the sweeping future of financial advice (FoFA) reforms.’ <snipped…>

‘Giselle Roux, one of Australia’s most respected investment strategists, told The Australian Financial Review while the industry was already strained by regulation, the classifications were not working.’

Assume understanding

“People assume that those of high net worth all understand financial markets,” she said. Ms Roux is the chief investment officer at Escala Partners and formerly held the same position at JBWere. “Just because people are high net worth doesn’t necessarily mean they need more complacency,” she added. “It seems to me to be saying that if you’re got a lot of money you can afford to lose it.”

Read the full article at (might need AFR login access)

About robertbrain

Brainy's Share Market Toolbox. Read the honest truth about the sharemarket. Develop or fine tune your investing/trading strategies using share price charts (technical analysis), or learn about the investment strategies of others. Melbourne (Australia) based - supporting share market investors and traders to build wealth through smarter investing using my Share Market Toolbox arsenal of weapons to tackle the market.


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