Spot onYoda. Great analysis. This is never just about the untidy end of the funds Mgt industry. It is about the tied in cross relationships with managers brokers and advisors all working together to protect each others' backs and earnings.
Brokers and advisors can have enormous power in these matters. As you point they may have total power as authorised proxy, particularly for older smaller investors. Or be a "trusted" adviser having recommended CTN in first place. Or have a good "story" re new IMA being beneficial. After all they may well service NAOS as well - and are happy to do so particularly if CGA growth is on a down run. Go where the future looks brighter! Suggest you do not wait for the authorities to step in to look after small investors being hurt, when they can spend their time chasing front page big headlines attacking CBA?
DYOR
Why not deal directly?, page-19
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