watched this stock for a very long time.
there is significant demand for brokers and the banks love to get others to do distribution as they do it terribly.
big issues are what will happen with trail income, the semi broken income split with franchisees and the decline in mortgages market.
the stock has been smashed which imho more than compensates for these risks.
can't wait to see full year impact of new franchise remuneration model. but I felt best to get in now as this must be trading below fair value.
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