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Evans Dixon: Australia's Boiler Room, page-21

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noomxx

7,382 Posts.

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11/11/19

21:41

Post #: 41366416
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Originally posted by noomxx: ↑

I still don't understand all the whoo haa problem with an integrated mode in itself, so long as a clients funds are broadly invested and the asset mix is reflective of age.
Not arguing about UFF, this was a complete turd and should never have been released. Again it was from the dixon side. And my gut feeling is that the dixon model was marketed to 'affluent' investors/retirees where as Evans and Partners was targeted more towards the HNW market.

And i think the main problem was Dixon himself, with all the knives out for him, he has disappeared on 'leave for personal reasons'.

I personally think this shock to the company has been a good wake up call.
Your clients are effectively your brand, the brand is essentially a manager of other peoples money. Treating your clients as just a honey pot to be exploited will not lead to longevity of the brand.

Having said this though, I think the positives of the Evans culture will start to permeate through the whole company now. Most importantly the balance sheet is in prime health (significant net cash), so ED1 has time on itself to work through these issues. New CEO appears good.

The low share price reflects very low expectations. So those low expectations will not be hard to beat.

Hence why I now have a position in the company.

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still happy with this holding at the price paid.
looks like ED1 has learnt from its mistakes.
lots of interesting commentary at the agm reinforcing this.

ED1 Price at posting: 87.0¢ Sentiment: None Disclosure: Held
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Last 45.0¢		Change 0.000(0.00%)		Mkt cap ! $106.9M

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Evans Dixon: Australia's Boiler Room, page-21

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Evans Dixon: Australia's Boiler Room, page-21

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