Ann: FY24 results investor presentation, page-18

Mr Kelly coming off as extremely arrogant and defensive, rather than apologetic like he should be. To say 'well the Strata Manager is our customer and we're only obligated to disclose to them', might be technically true from a legal perspective but not from a moral perspective. Its not the Strata Manager's money its the unit owners.

These practices have gone on for years and Steadfast is not the only buying group or broker that does or has similar arrangements. Another national firm (since sold) were also a big proponent of this and they justified on the basis that the strata manager was handling claims and unitholders and therefore they obtained most of the available commission.

Not a good look that BCB didn't source options from the whole market but instead only went to the Steadfast owned CHU. Query how they can be acting in the interest of their clients at all, rather than their own interests. Wonder what kind of incentive BCB brokers were entitled to for funneling business to CHU...