takeover speculation, page-11

Count run expensive platforms. Count make a lot of money from platforms and advisers get healthy rebates (which will probably be banned). Advisers therefore should be charging lower ongoing fees to clients.

DKN run cheaper platforms and much smaller rebates to advisers. DKN advisers therefore should be charging higher ongoing adviser fees. Theoretically cleaner and more transparent.

The overall cost to clients should be similar but DKN looks cleaner going forward.

Different business models which i believe translates to different cultures.