It is certainly good news, but it is not indicative of how well new flows are being attracted.
Why not? I would have thought that attracting blocks of advisers from other licensees was an integral part of IOOF’s organic growth model, not a one-off event that needs to be singled out as non-recurrent.
Therefore, I personally do not see anything “terrible” or “unethical” in the way this latest set of results has been presented.
IFL Price at posting:
$9.19 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)