Hume has been hanging with the shoeless one
Outsider really wonders whether the “barefoot investor”, Scott Pape, is really barefoot given his book sales and the spotter’s fee he is probably owed by a particular superannuation fund.
And it is on this basis, that Outsider also wonders whether the still somewhat shiny and new Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume, fully understands just how some people in the financial advice community feel about Pape.
You see it has been suggested that by referencing the performance of particular superannuation funds in his barefoot tome, Pape has helped drive inflows into those funds notwithstanding the fact that, as we all know, past performance is no guide to future performance.
But Outsider knows never to stand in the way of a minister and a photo opportunity and so notes Hume’s recent tweet that she was hanging with Pape and his “gorgeous wife Liz talking to kids, financial literacy in schools, empowering families and changing lives”.
It will be interesting to see how this tacit ministerial endorsement impacts book sales, not to say the inflows into a particular superannuation fund, and Outsider suspects that any interest the Australian Securities and Investments Commission may have had in the provision of product advice has ended up in a bottom drawer.
AUTHOR
The Outsider
Recommended for you
When it comes to a business merger, achieving the voting approval can be just the first step.
When it comes to human interest stories, the Australian Prudential Regulation Authority is keen to let the organisations it regulates know its staff are more than just faceless automatons.
Outsider is hopeful of the news from advice firm Invest Blue that it is trialling a move to a nine-day fortnight for its staff.
Like most of the financial advice industry, Outsider has spent the week reading through the final report of the Quality of Advice Review.
