Jonathan Shead

speaker

96 appearances 1 recordings 1 series first heard Jul 2026 last heard 6 Jul

Jonathan Shead’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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FEAR & GREED | Business News · Q+A: The bet that transformed investing in Australia · 6 Jul 2026 podcast

So in the financial crisis, for example, ETFs did exceptionally well.

They really did what they were supposed to do.

That, along with, I think, a growth in things like fee-for-service financial advice, I mean...

You'd remember back in the day, Sean, managed funds were all operated on commissions.

That's how financial advisors got paid, either upfront or trails.

So the growth of fee for service, financial advice.

I think Australian investors being more comfortable with something on an exchange.

Talking to my colleagues in the US 25 years ago, US investors, yeah, yeah, they traded stuff on the New York Stock Exchange all the time.

But Australians, you know, they might have some shares in the bottom drawer from a demutualization of AMP or National Mutual or Colonial Mutual or something.

But beyond that, they weren't really comfortable with the exchange.

So that kind of changed.

The growth of platforms, I think, in terms of dealing with the administration side kind of changed.

And then finally, I think just the growth of product or strategies that were available.

So as international ETFs and fixed income and those sorts of products became available, all of a sudden the things that people could do with ETFs expanded.

And I think that was a big part of their growth.

Yeah, look...

If I was being kind to myself, I would say, you know, they've done exactly what I thought they would do.

But the honest answer, Sean, is that they've massively surpassed my expectations.

Look, I'm an actuary by trade and I just loved this kind of complicated financial dance between ETFs and futures and cash equities and the arbitrage trade and all that kind of thing.

I didn't really appreciate how dramatic these products would be for implementing active ideas or implementing tailored portfolios, or for that matter, being used by financial advisors and retail investors.

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