Leaders over managers
at RIAA

The reforms shaping the Australian financial services industry will boost sustainable investing as financial advisers face up to their broader range of fiduciary duties.

This is the view of Louise O’Halloran, group executive director of Responsible Investment Association Australasia (RIAA), who opened RIAA’s eighth international conference on Thursday morning by reflecting on the increased importance of governance across the financial services industry.

With investment advisers likely to find themselves in an environment where their advice is open to challenge by clients and the scrutiny of regulators, practices and licensees will need to stay abreast of developments in responsible investing.

Canadian-born philosopher and writer John Ralston Saul gave the keynote address in which he challenged delegates to be leaders rather than managers.

He urged economists and individuals throughout the financial services chain to question traditional theories and apply some imagination to fixing the systemic failures of the past five years.

Seven case studies examining environmental, social and corporate governance trends were then highlighted to show how the sustainability and ethical impact of an investment in a company or business can be measured.

The conference ends on Friday afternoon.