IOOF ifl strategic entry point, page-18

I don't think there needs to be any radical legislation change. What the royal commission is showing is that the legislation and its intention already exists - What has to change is how it is policed or enforced.

The intention of the legislation is that margins across the value chain that IOOF plays in will decrease. While as a shareholder that might not be good news from a policy makers viewpoint "margins" are leakage from a superannuation system that is designed to provide for the retirement of Australians and save the government from paying welfare.

Now I dont think it is so dire that it will be the "end of paid advice" but i'm saying there is a large possibility that revenue and margins will be lower in 3-5 years than they are today and thats not what the market is pricing in.