Shadow, These are the facts that you mention in your post. I cant stop this trend and it will keep growing in the future. I still think a majority of people will want a financial advisor service.
The March 2020 correction Covid 19 reversed the steady upward trend of the Index, shows that the opposition makes losses as well.
I know a few things and I'm 65 and retired. Don't take your money out of super. A lot of people take an allocated pension. Tax rate is 0% In my personal name I have a tax bill of 10K and I have already paid 21K in franking credits. Seems what ever your age you still have to pay personal tax. Don't keep money in personal name. I have a SMSF which if your young are incredible instruments for managing your financial affairs. This has taken up a lot of my time and the past has proven it was worth it.
So much time that I want my capital involved in this Industry. 9% of people buy shares directly. The correction this jumped to 19%. So my friend you and I are a minority. The other 90% of the stock market is done by professionals / superannuation Companies. Most people are too busy with their lives to bother.
My $3, I will invest in IOOF they have a great future and I appreciate management growth plans and I willingly invest my money with them. My gut feeling is they will do well.
Supported since march by the fact the dividend is one of the highest in the market currently. The bank are way behind and will probably underperform for the next 3 years.
If I had more cash I would buy more!
IFL Price at posting:
$3.82 Sentiment: Buy Disclosure: Held
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