extract from AFR 3rd August:
It calls out "a blizzard of barely differentiated products" that create "the illusion of choice" as an example of the tactics deployed by the banks to maintain market share.
Mark Bouris, chairman of diversified financial services and mortgage broking company Yellow Brick Road, defended trailing commissions, saying they prevent excessive churning.
"A trail commission provides an important incentive to ensure customers get the right loan the first time... abolishing them could trigger an exodus."
YBR Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
