Ann: LGGC Statement to Members, page-10

Can someone here legitimately explain to me what SelfWealth's competitive "moat" is as a broker?

Like, I see holders & management constantly spout things like "SelfWealth is changing the future of investment!" such as in this letter, but I fail to see exactly what is revolutionary about their product at all?

They can't cite the lowest brokerage fees for a CHESS-sponsored broker any more, they have an eminently buggy app that remains unfixed, their "social rankings" system that shows how you perform vs. others mostly seems to get hate more than praise, their UI design is pretty amateur across the board...

I just don't see how management can claim how well they've done when the company was just obviously a beneficiary of the Covid investing boom, the same way as companies like Kogan, Temple & Webster and other online-centric businesses that boomed during the pandemic.

And I say this as someone who both used SWF as my broker & invested in the company for quite a while...