Ann: Quarterly Activities Report and Appendix 4C, page-64

You're the minority - so without blowing up your head, it's fair to say that you represent a small portion of traders with such a large portfolio. Effectively speaking the product which SWF provides is actively available from many brokers, it's the same service and no different, it may work a little different or have some additional features. So your argument is quite flawed.

Unless SWF provided a service which really differentiated from it's competitors, then yes - I would agree to some extent that the fee can be different, however it's a competitive market space and really they don't bring much to the table comparitavely speaking, the service doesn't provide any additional benefits to any of their competitors and SWF needs to remain competitive or it will fall within the cracks and eventually be consolidated into another larger company sooner than later.