The Godfrey Pembroke adviser announcement highlighted everything wrong in the business. Why the trading halt on a non-binding agreement, in a non-existent asset when the implied seller (Insignia) hadnt even been engaged.
Even if the agreement comes off, looks hugely expensive bet for IMA and SMA sales. Which, by the way, are woefull. Only asset in this business is the advice subsidiary.No profit, no growth, no prospects.
Ann: Preliminary Final Report, page-5
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