Hi Team,
It's been a good recovery week for IAM. Hope everyone Bodes well.
I'll reformatted and summarised the Dealer Group Top 100 into it's major group owners for easier viewing and to inform those on the HC forum that have an interest in the key players in the industry, their alignment and potentially IAM's next targets (it's also part of my day-job):
For example:
1. We know Mark Rantall has strong connections with NAB/MLC
2. Patrick Canion is obviously with Ipac and already implementing IAM's solution. Ipac currently has 165 planners under the AMP group.
3. I doubt Westpac or CBA (i.e. large institutions will implement IAM's solution anytime soon) since their back office processes partially involve offshoring already and heavily embedded for many years. However, I would not rule out one of their sub groups trialling this (e.g. Fin Wisdom or Securitor). Speculation only.
4. IOOF is highly fragmented (with 7 underlying businesses) and have come about due to a number of acquisitions. My experience says more often than not, these acquisitions have the intention of creating efficiencies/synergies, but rarely are delivered. Therefore, a potential opportunity for IAM.
5. It would seem more likely that IAM would target (and have better success) with "Sentry" size businesses (couple of hundred planners), that are seen as more independent such as Dover or, alternatively, the smaller parts of IOOF or NAB.
6. Personally, I have been keeping a close eye on some of the more dynamic players in the market (i.e. turnarounds or newly created or expanding), such as
Centrepoint Alliance,
Yellow Brick Road and
Elders since these provide IAM with ideal opportunities to get in early or at a time when most needed by the FP practice.
View attachment 301880
Happy Friday,
Bodhi_Trader
