I've been watching IFL for years and regretted not buying around...

I've been watching IFL for years and regretted not buying around $8 a few years back to see them over $11. As an adviser or ex adviser I've sold their products and used their services for many many years. while not cheap and no means perfect it was a reliable offering and served a purpose.
I again found myself measuring should I buy them in the mid to high $8 levels and have been hovering over the buy button from $8.90 down to here. now at $7.80's I'm still not sure. I can't see the Royal commission issues going away and what is extremely concerning is what is coming to most life and fund manager companies.
I thInk regulators will force refunds to clients in a much more aggressive way and clients will not need to engage a slater and Gordon to get their fees back. Groups like IOOF will find they will need to go back a decade or possibly more and show proof that every single client has received the service that they have been charged for. If there is no file note showing a record of advice and review then the IOOF's of the country will be forced to refund every dollar IN FULL and they will try and pursue the adviser or dealer group.
imagine the carnage. An adviser who may of retired years ago gets a knock on the door and is asked for a cheque or face legal action. The adviser typically has no assets to his name so ioof wears the refund.
It will effect future revenue massively and cost the company dearly.
I hope it's not as brutal as this but I've heard AMP is already starting to get ready to pursue all past files.
I can't see how IOOF could avoid this issue.