Ann: Announcement of Selective buy-back - Appendix 3C, page-42

At both Taguig City and Cebu in the Phillipines IAM as of today are now hiring Financial Planning Trainee's.

At both centres they are employing 10 people each to enter 3-6 months traineeship ending up as a Financial Planning Associate.

The Associates would then translate into permanent positions.

My take on this is that they will be assisting the current Financial Planners in creating the advice documents and sent back here.

There is in my opinion only, no chance in hell they would do this unless a guaranteed work flow was secured.

I think CFP will have signed up and this is what the reach for scale looks like.

If B2 is 3x as efficient as B1 run the numbers on what a team of 30-40 people could do on a conservative 2 SOA a day. 80 a day x 5 = 400 a week. Close to what CFP do in a week from the 500 discussed in past though I don't have the source to back this statement so take that number with a pinch of salt.

With simple SoAs at a conservative $200 a pop that's 80k a week close to 960k a quarter on CFP alone.

Make of it what you wish but I do not know of any companies aggressively hiring with two day processing times on chance alone.

CFP > CBA engagement as a whole then Westpac or IOOF is my guess.