I completely agree with that. I guess my ‘hope’/thesis is that...

I completely agree with that. I guess my ‘hope’/thesis is that ifl will benefit from the move to cheaper advice and more regulated advice. I’d imagine gross margins will continue to reduce to a point, but that scale will allow net margins to be maintained, and that relative inflow from the reduction in small dealer group advisers, the ‘1000’s of clients’ advisers, and the possible hit mlc cba and amp have taken (in relative terms much more serious than any breaches ifl made imo) should allow IOOF fuma to continue to expand for years to come.