BT are making a big strategic play here. They have spent a fortune on panorama and they aren’t getting flows that were forecast in business case. Prices announced are incredibly low - $540 fixed fee and 15bpts capped at $1million with family discounts as well. This effectively blows the competition out of the water. Cost of cannibalising their own legacy platforms is estimated at $70m. Small biscuits for Westpac but terminal for many other platform providers hence share price reaction for Netwealth, Hub24, Praemium. Even IOOF given this price undercuts the deal they have in place with BT. This is the game changer many in the industry were predicting would occur. Result is great for investors but catastrophic for other platform providers. They have no choice but to meet the market if they are able. Sold my holding today and will wait on sidelines to see how this pans out.
BT are making a big strategic play here. They have spent a...
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Last
66.5¢ |
Change
0.015(2.31%) |
Mkt cap ! $250.6M | |||
| Open | High | Low | Value | Volume |
| 66.0¢ | 67.0¢ | 65.0¢ | $627.6K | 949.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 13250 | 66.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 67.0¢ | 135967 | 2 |
View Market Depth
| Last trade - 16.10pm 21/11/2024 (20 minute delay) ? |
| PPS (ASX) Chart |
