ASIC launches 'Between the Flags' guide
|
|
The Australian Securities and Investments Commission (ASIC) has produced its long-awaited guide for retail investors — Swimming Between The Flags.
The guide, launched today by ASIC chairman Tony D’Aloisio, gives uninitiated retail investors a set of basic steps but, contrary to some industry expectations, does not endorse particular types of investments.
Commenting on the release of the guide, D’Aloisio said it was intended to help put retail investors on the path to investing more wisely.
“It is just a metaphor but when you go swimming at the beach, you will reduce the risk of drowning if you swim between the flags, similarly, when you invest, you will reduce the risk of losing your money if you adopt the investing behaviours identified in this guide,” he said.
The guide, while not advocating particular investments or suggesting that people necessarily utilise the services of an adviser, contains cautionary notes and descriptions about particular types of investments
AUTHOR
Mike Taylor
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
