All I can suppose, as a possible answer to your questions, is that he is protecting his reputation. As the GoConnect website claims, Richard Li has: "Over 30 years experience in investment research, equity fund management, investment advisory service and stock broking with major Australian institutions."
We all have a lot to learn, to enhance our reputations in our chosen fields. A boutique investment firm is clearly a particularly difficult field in which to perform - even for somebody with Richard Li's 30 years of experience.