Firstly, we need to ensure that we are representing our members and small investors in corporate, financial and political circles, particularly in these challenging times. The ASA has a voice and provides input across the business community as we seek to safeguard the interests of small investors. We engage with companies in representing the views of the company ‘owners’, the shareholders, to the stewards of those companies, the directors.
Secondly, there are many financial challenges for self-managed super fund investors and small shareholders generally, so the ASA needs to be able to provide appropriate information that is relevant and assists investors in managing their savings. We are strictly independent, so there is no ‘selling’, just help.
Thirdly, while institutional investors and broker analysts have relatively easy access to corporate boards, directors and senior executives, individual investors do not. This creates a huge imbalance in information. As an organisation representing individual investors, the ASA has access to directors and executives. We engage and work with companies to advocate small investors’ needs on issues such as higher dividend payout versus capital growth or capital management initiatives. In return we provide reports to members about the companies we engage with, from an independent investor’s perspective.
Fourthly, we need to increase membership. The more members the ASA represents, the greater the voice to advocate the needs of small shareholders and stamp out practices which disregard their interests.
How does your background assist you in your role as CEO?
I have had over 20 years’ experience as a chartered accountant, investment banker, consultant and company director. This background allows me to offer a pragmatic, insider’s point of view in expressing what investors need. I look to communicate between small investors and directors in a way which both can understand, as I have seen cases where the two groups just do not understand each other.
I have experienced the ins and outs of the services offered by brokers, the issues in corporate transactions and capital raisings, financial analysis, and in advising and managing companies. The ASA needs to be in a position to educate and provide information to investors on these and all business matters. Compulsory superannuation has provided a mechanism for significant investable savings; however, investors need to understand the wider business and economic issues affecting their investments. The ASA seeks to inform investors of the important issues, as it is simply not enough to ask for blind advice.
From the perspective of running the ASA, my knowledge of business and finance and the markets helps me put in place strategies for the ASA to become more effective and relevant. ASA is member-funded and not a government department or charity; accordingly, we need to be run as a business that provides benefits, products and services to members, investors, corporations and the broader community. My background allows more to have a thorough understanding of these issues.
