Margins are the only way to go...efficiencies in systems, process and people.
The industry is facing what the broking industry faced during the 90's and turn of the century. Commissions were around 1% in the 80's now looks t them...this is what is happening in funds management, margin compression.
Therefore scale and cost out are all that works. IFL are making the right noise so lets see the results.
Margins are the only way to go...efficiencies in systems,...
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