Ann: Update - Notification of buy-back - SWF, page-13

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08/05/24

18:18

Post #: 73731949
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Originally posted by Navigator00: ↑

I think you are completely missing what is actually happening here. In fact i don't know what you are talking about.

So lets be clear. Selfwealth have just one big bank account, for everyone. They offer individual HINs but they have a pooled bank account. That means your money is in with everyone elses. So Selfwealth will be earning interest on those funds from the bank they deposit with - your funds, my funds, everyones which comes to $9.9 million in Interest Revenue according to their half yearly report. So now double that for the full year - that is just under $20 million that they are earning from funds that are - not theirs. So i am saying they should be passing that Interest Revenue onto the people who actually own the money ie the people who have Selfwealth accounts.

As far as, well why don't you draw your money out and put it somewhere else. If you have the time to constantly do that then good luck to you, i for one would just like to know i have money in the right account when i want to access it.

Which is why, even though i hold SWF stock, i have moved to the Marketech platform.

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I have moved to the Marketech platform.

Selfwealth has 128k accounts, so the cost for those people to just trade on Marketech would be 128,000 * $20/month * 12 months = $30.7 million a year, and if they want basic functionality like conditional orders and have their orders go through midpoints on ASX and CBOE then they would have to pay $45/month or $69.1 million a year. Both those figures are well above the $18-20m Selfwealth get in interest.

So what would you be willing to pay Selfwealth a month to get the interest instead of them, or are you another one of these who expects to get everything for free?

SWF Price at posting: 14.0¢ Sentiment: None Disclosure: Held
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