Ann: Half Year Update Presentation , page-14

The broker report I read suggested all going well break even wont occur until at least 2017 .

Hub rely on the technology as being ahead of the curve as being the reason for funds flow to come from advisers , and clients but mostly independently owned ones like a broker like a Wilson's or Ord Minet .

Most advisers wont use Hub , mainly because they wont be allowed to use it , as their owners are a bank , or major insurer who have their own administration products .

Most of the real competitors outside of the brokers like AMP ( North Platform ) , CBA (Colonial First State platform ) , Westpac (Asguard platform) ANZ ( ING platform ) , NAB ( MLC platform ) make money by having scale , aligned advisers but most of all by having their own funds management products..

To be competitive Hub need to compete directly against an AMP and the banks , therefore Hub needs more than one reason to use their product than just a technology edge .

Hub has over 10 million in cash in the bank and could acquire or build a first class fund manager like a Huntleys, Montgomery, Magellan , WAM , Paradise , Acorn , Kohler , In street or a Pie fund and then have their owned funds only access points as via the Hub platform , then they might have a chance .

Hub could have then have their own share funds , property funds , structured products, international funds , money market funds even really smaller companies to attract Hot copper members that the are best of market performers

A lot of hot Copperites use discount brokers but if hub e product low brokerage, and great reporting maybe there is even room for no adviser direct business .

Having exclusive product and get bigger margins on every dollar that comes in the door ..maybe a break even within 12 months not 36 months is possible .
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