I thought the results were very mixed results, but am willing to believe the CEO on margins etc with the SP down 10%. Losing some advisors would be expected through such a process, but it was a positive that IFL is maintaining business relationships with many. The world is not the same as it was in that certain advisers might have a risky client base or "dangerous" practices and will not be bringing good risk weighted returns if IFL is legally responsible for their activities. So I do wonder if the market is following the old script of more advisers is good, less is bad, and more FUMA is good, less is bad, without any understanding of the risk factors (that we cannot easily have insight into).
I thought it was good that only about $8b out of $19b of BT FUMA left too.
IFL Price at posting:
$3.21 Sentiment: Buy Disclosure: Held
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