I am clearly of the firm belief that IFL holders wouldnt want the ANZ acquisitions to complete. I dont need to harp on that though.
Id be completely firing from the hip guessing a remediation figure. Considering the number of advisers IOOF have relative to the banks, id *guess* the total remediation figure will be north of $100m quite comfortably. However, I don't think August is sufficient time for them to actually review all their clients and advisers so it will take far more time to get the real story IMO. Taken the banks years.
Good news is IOOF financial planning seems far less in the crosshairs when compared to the trustee part of the business. They may be able to get away with a comparatively low figure (rightly or wrongly).
IFL Price at posting:
$5.36 Sentiment: None Disclosure: Not Held
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