Financial services has its own “milk and peanuts” warnings. Part IVA could apply to many actions if the Commissioner wished, and ASIC’s rule that “past performance is not a reliable indicator of future performance” is often true: markets revert to trend, and fund outperformance is frequently statistical noise. Even when real, changes in staff or strategy can make past results irrelevant.

Bi Monthly Update for November 2025 covering latest blog posts, office updates, upcoming holidays and social media links.