With the Secrets of the Money Masters, we are coming together as a community. Investors, advisers and market participants – including the custodians, platforms, industry funds, bankers and investment managers – have joined together on this initiative because we have something in common that supersedes competition and individual interests.
We are all members of this financial services community. And I feel pretty confident in saying that for most people in this community, the last 12 months have been extremely challenging. The degrees of difficulty may have varied and the issues may be different, but we have all had to redefine ourselves to remain relevant in this rapidly-changing market.
And unfortunately, post the Royal Commission, it will be to our detriment if we don’t continue to work closely together to reset the standards in the industry and regain the trust of the Australian public – members and investors alike.
If we don’t combine to rebuild from here we will all lose, as no one will be immune to the changes afoot, including the demographic shifts, the migration from active to passive management, disintermediation such as blockchain, and technological advances including the increasing use of AI.
With the help of special people within Nikko Asset Management, UBS Asset Management, Platinum Asset Management, Orbis Investments and AIA Australia, investors like Michael Klim, Jude Bolton, Madison de Rozario, Kyah Simon and Bernard Foley, partners like Morningstar and Mercer as well as industry fund champions HESTA, LGIAsuper and CareSuper, we are taking small steps together to say our industry does care and we are absolutely committed to making a difference.
I can’t say this will be a wild success – I honestly don’t know if it will be – but what we are all willing to do is to try something new that showcases the best of our industry. Bravery, after all, means taking a step forward even if we don’t know where it will take us.
Call me naïve, but I still believe in people. I still believe in having a greater purpose, and I still very much believe in this industry and the vital role it can play in changing people’s financial futures.
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