To add to the already posted information from tonight...

To add to the already posted information from tonight (disclaimer - all information is just from attending seminar and is not financial advice or taken as fact)

PC is a gentleman, good sense of humour - definitely a must meet if you can attend Syd/Melb seminars
Pressie was very informal but very informative - PC more than willing to tap into IAM team to answer the questions as best as possible.

As there was so much information, I will just summarise as dot points before I forget it all.

Firstly answers to the questions:
1/ Did not ask this but based on the discussions there, 12 mths would definitely be conservative. IPAC Wa took 6 months to roll out through multi-generational process from easiest processes to more complicated processes but no reason why that rollout cannot be done in 3 mths within a practice.

2/ The HOA agreement with Sentry Group indeed is exclusive for the 6month pilot period to which IAM can negotiate either an exclusive deal with Sentry OR start talking to other similar competing independent groups which was confirmed as a few in the waiting list but IAM cannot talk to them at this stage due to the exclusivity agreement. IAM  is well aware of the exclusivity limiting market expansion and hence did not agree to an exclusive agreement with Sentry but only for the 6mth pilot period even though Sentry Group wanted that setup. It was hard to determine the value of the premium aspect of the service at this early life of this market being fulfilled.

3/ Klip is compulsory and is 10% extra on top of all the fees they charge to the clients. This is actually the cog so to speak that all the main players are most interested in and this is not available currently in the financial planning industry.  This is the hook enticing the big players currently.

4/ Klip is on a platform however only data can be entered by IAM. Financial planning group staff cannot enter their data in or generate anything.

5/ For the pilot programme, Sentry are paying for all the costs that are due. Invoiced monthly. Sentry Group pilot will be first lot of business generating profit as previous dealings with the current 9 clients of whom are mostly (5-7 size) were done close to cost only as a means to further develop the right processes and adoption of the Intiger Solution.
Definitely can confirm the quarterly figure is legally correct but not representing the full potential/performance of a month or quarter due to billing periods, etc.

6/ Waiting list as mentioned above have a few financial groups similar size to Sentry Group but due to the exclusivity, no further expansion can probably be had in the independent groups sector for the time being.
Others are individual practices but are aligned with the main financial planning group that holds the AFSL for these practices and there is pressure from these practices to accelerate their adoption of the Intiger Solution but due to the licensee approach are limited with what they can do with them.

7/ Did not ask this question, does not seem to be a priority at this stage. Think once this snowballs, it will self promote through the industry.

8/ Did not ask this question. Bit too personal and MW was not there.

Other points
- Chris Blakes role - initially to manage client waiting list and current and any signed clients. transfer those clients to the manila intgier platform as this task is under control look to go global (more on this later and also long term) using the reputation garnered in australia to springboard to UK/USA both massive markets with slightly different setups but directionally all require similar processes.

OPERATIONS
- PC got us on video conference with MF and SW - both very professional, knowledgeable more importantly passionate and full of energy.
- MF is very well aware of maintaining and keep offshore costs low both in resources and also office overheads.
- MF managed to pull off some massive arrangements when setting up in Phil, - in Phil, you need to be Phillipino national to setup business. There are brokers that subbie this right to overseas companies. This is the current arrangement but there is a 20% premium to be paid of the wage bill. This will not be required in Jan as Intiger AM will be no longer require the broker. This is a massive saving.
- IAM also been given a 6 year grant relating to PEZA - taken 2 years to get this
http://www.peza.gov.ph/index.php/about-peza/implementing-rules-and-regulations
which is was given through connections and dealings with Australia ambassador and only to companies that provide/introduce new skillsets and industry to the country - it basically gives certain rights and benefits to the granted company in terms of first rights to superior office locations, higher priority to tap into universities for resources, reduced capital gain tax and income tax tarrifs.
- office lease also expires in Jan so looking to expand offices/other office locations in Phil - Shabu and two other locations . Vietnam and Mongolia are more future locations as MF is well aware of the impending increase in running costs in Phil/India as demand for the sort of staff increases and the offshore costs need to be reviewed ongoing. MF also mentioned other countries which are also candidates. Also stated that the current institutions love the geographical diversity that IAM has as it reduced any geopolitical risks.
- MF and SW have a good understanding of the job candidates market and geographical locations; for eg they can hire cheaper admin staff further out from Manila that can still handle majority of the paperwork tasks/processes.
- manila, IAM looking to setup a partnership with one of the notable education bodies so as to tap into the resources when we need to expand.
- there are other offshore companies small size (5-7) that do other work (not direct competitors as there are none) but IAM receive interests from their staff to join them as MF confirmed they make sure to look after their staff and the environment they create to ensure all workers love their work.
- Lilly and Klip need final touches before rollout
- PC demonstrated the Lilly SOA automatic generation - it's as easy as "Publish as PDF" in word.
- MF went through some rough costings of their staff but wont go into details on it

Currently there is no competition, the likes of large BPO giants like GE Capital, IBM, Accent, WIPRO want to enter the Australia market but their mentality as big copmanies is to expand via acquisition but there are no such company to acquire. IAM would be the first. Also, these large companies do not offer solutions tailored to the clients that require it but they have set processes that they would be fixed on implementing which is totally opposite to what Intiger Solution offers.

IAM wants to become expert in financial planning and dominate this industry and eliminate any competition through controlling of the resources.

Regarding 2nd MOU - gut feeling is it is more likely to be in mid Dec based on current discussions

Feel free to correct me if there was anything that is incorrect.

All in all, very confident going forward in terms of the implementation of this business model which is the biggest risk but with the current management, it is as derisked as it can be.

Thats it for now.