I will provide some further commentary after results tomorrow but at the moment it is looking like;
- A blood bath for revenues and profits
- Blood bath for AUM and clients running for the door
- A blood bath for long term advisers running for the door
- A blood bath for clients following their advisers out the door
- Announcement of some new strategies that sound OK but won't work (probably an upgrade from Windows Vista to Windows 10)
- Some waffle about Coronavirus and market conditions
- Write-downs of unlisted assets
- No news or commentary about the raft of fully funded class actions
- No news or commentary about the ASIC investigations and criminal charges that are pending
- No news or commentary about the public relations disaster for AMP after Alex Wade quit and Boe Pahari issues
- Some waffle about culture and improving this
Guesstimates for AMP 2020-21, page-289
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