Frankly, I find it bemusing that so many are so certain that the...

First 54 Last

Share
Profile

Follow
MarsC

2,589 Posts.

127

07/12/18

12:18

Post #: 36783595
Share

Originally posted by HAC30 ↑

CK showed at the royal commission how much he didnt take APRA and potential changes seriously. He was asked about how ARPA questioned their trustee business and he said 'it was a matter of indifference'.... Well not really mate, if the regulator says something is wrong and needs to be fixed, you fix it. A very abhorrent attitude but one that has been formed from most of the industry being able to get away with gouging for years.

For too long everything in this industry has been grandfathered or there's just been a slap on the wrist assuming 'they wont do it again'. Instead the industry keeps doing whatever makes them the most money, and in most cases, that is 'doing it again' which is the worst thing for consumers.

The issue for IOOF here, and what brings me back to my original point when I started posting here, these clear oversights of the issues in their own business model likely extended to the ANZ acquisition. ANZ and the rest of the banks have been running for the hill for a reason, its because operations are continually becoming less and less profitable unless you actually have a market leading product and service. None of the banks of IFL/AMP has a leading service/product, they are reliant on a vertically integrated salesforce for fund flows and product sales which is under serious threat from the RC.

Im a big advocate of getting rid of vertical integration, but taking my bias view out of it, what do you think would be more popular politically? Both parties are going to play populous policy leading into an election and I think the general public is going to want to see the axe swung on vertical integration. The main argument for vertical integration is that is can 'reduce the cost of advice' but it hasn't succeeded in doing this.

Expand

Frankly, I find it bemusing that so many are so certain that the "cost" of removing vertical integration is more significant than the cost of bad advice.

Last edited by MarsC: 07/12/18

IFL Price at posting: $4.70 Sentiment: None Disclosure: Not Held
2 Upvote

0 Great analysis

Reply

Top Stories

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MTM

Australian Rare Earths bullish on early-stage uranium potential at Overland, SA

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

There are more pages in this discussion • 107 more messages in this thread...

First 54 Last

Add IFL (ASX) to my watchlist

(20min delay)
Last $3.12		Change 0.000(0.00%)		Mkt cap ! $1.703B

Open	High	Low	Value	Volume
$3.10	$3.13	$3.08	$823.8K	264.9K

Buyers (Bids)

No.	Vol.	Price($)
49	9554	$3.11

Sellers (Offers)

Price($)	Vol.	No.
$3.12	25954	19

View Market Depth

No.	Vol.	Price($)
4	29401	6.110
10	100380	6.100
7	33654	6.090
5	58008	6.080
5	36106	6.070

Price($)	Vol.	No.
6.120	14772	1
6.130	13181	4
6.140	28163	3
6.150	47483	7
6.160	28454	3

Last trade - 12.00pm 28/11/2024 (20 minute delay)

IFL (ASX) Chart

Frankly, I find it bemusing that so many are so certain that the...

Top Stories

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

Australian Rare Earths bullish on early-stage uranium potential at Overland, SA

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

This biotech stock raised $11M in a risk-off environment. Its Alzheimer's drug could change the game

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

Buyers (Bids)

Sellers (Offers)