David Allen

Apr 5, 2023 | professionalplanner.com.au | David Bell |Simon Hoyle |Claudia Pritchitt |David Allen

We never expected the review of the Your Future, Your Super performance test instigated by the Minister for Financial Services Stephen Jones to recommend the significant changes necessary to make the test less costly and more effective. This would require moving the performance test from a legislative to a regulatory framework, and empowering APRA to utilise multiple metrics and a qualitative overlay. Nonetheless, the changes recommended by the Minister and Treasury will have positive impact.

Mar 23, 2023 | livewiremarkets.com | David Allen

Overnight, prominent short seller Hindenburg Research, released a 97-page report compiled over two years claiming the $44 billion payment processor, Block Inc. facilitates fraud. “The magic behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics," said Hindenburg.

Mar 13, 2023 | professionalplanner.com.au | Simon Hoyle |Claudia Pritchitt |David Allen |David Bell

The corporate regulator has formally ruled a line under one of the most shameful chapters of the financial advice industry’s history, issuing a final update on remediation paid by the big banks, AMP and Macquarie for charging fees for no service and for non-compliant advice.

Feb 5, 2023 | professionalplanner.com.au | Neil Younger |David Allen |Simon Hoyle |David Bell

Financial services minister Stephen Jones has spent the summer digesting the Quality of Advice final report. The Michelle Levy-authored report, which is expected to be publicly released imminently, will usher in a new economic era for financial advice. While proposed changes need to be considered through the parliamentary process, if the draft report is an accurate indicator, there are some recommendations that are sensible to progress more quickly.

Jan 30, 2023 | professionalplanner.com.au | David Allen |David Bell |Simon Hoyle |Claudia Pritchitt

The idea that a fund manager must hold a concentrated portfolio to significantly outperform the benchmark is an enduring investing legend. However, when you look at the data, this widely held conclusion seems somewhat questionable. Afterall, Renaissance Technology, the most successful hedge fund of all time has generated returns in excess of 70 per cent p.a. before fees and has several thousand positions at any one time. So, let’s dig in a little deeper.