ioof and platform market, page-2

Nice pick up. Interestingly, IOOF tried to solve this problem back in 2010 when NAB was attempting to acquire AXA.

During the attempted acquisition a key sticking point for the regulator was around NAB controling too much of the platform market if it acquired the North Platform (a very similar capability to HUB24). To resolve this, NAB proposed to sell IOOF the North Platform. IOOF were clearly VERY keen to have the deal go through, however this ended up being blocked by the regulator with AMP eventually acquiring AXA.

IOOF isn't the only investment manager facing this problem btw. Legacy platforms are a huge challenge for the industry. Plenty of players out there who would love owning HUB imo.