Completely understand where u r coming from in regards to my take on potential competitors etc. Merely examples of potentials within the Fin Tech arena.
There is quite often synergies and overlaps between Accountants and Fin Planners within the industry so I saw the potential overlap in the Offshore Processing as well as the path of automating certain aspects of the process – namely SOA's per se.
If the automation of an SOA can be created for one parallel field essentially governed by similar legislative and industry rules / guidelines then by default can't said automation Tech potentially be transferred? It would really only primarily be the data content fields, acceptances, T&C's, disclaimers etc etc that need be adjusted I would assume? The mechanics of the software would be similar possibly.
You are correct in pointing out SMSF etc however that sphere (Super) forms part of the Fin Planners area also and as the IAM website points out – they plan to eventually do SOA's for Super & Insurance in Super, TTR etc. but Lilly is only capable for a standard SOA / ROA at this point.
Rather than a couple of sentence paraphrase of a post I made it is probably easier to actually read my thinking (or ramblings) in all my previous posts in full context so u can actually see my thinking develop. I have popped the links and dates below in order if you feel like reviewing at all. U will also see in my posts that I do believe there is a place for IAM but do I think LT at this stage or ST?
In no way is my thinking necessarily correct, but it is correct for me at this time and everyone has their own styles, plans and considerations. There are many holders from some time ago who will be sitting on decent paper profits and / or have traded at times or even sold down some holdings for profit to trade elsewhere. That's one style – identify the potential & get in early and build a sub stake and then continue to reassess position as the story unfolds. Another is waiting for partial derisk when the aqua is finalised and then get in for smaller premium...or wait till harder evidence is presented for again an even slightly higher premium....u get my drift.
So for me in a simple view, if I park the hype, the possibles / maybes, the NPAT targets (which, yes r important but still just targets at this stage) etc. then I can look purely on the offering.
This to me is the offshore processing and automation of part of the Fin Planner process (rest to be developed as they go).
Is this disruptive or ground breaking? The offshore part isn't to me as that already exists and as you point out, there are plenty companies out there using this already to certain degrees. The tech is obviously part of the enticement but as I pointed out, it is not fully functional as yet across all processes so to me that may (or may not) limit some potential revenue streams near term until fully online. Klip will also be an enticement no doubt as an analytics GUI dashboard but it is the cost savings that will most likely bring practices on board. Are these cost savings driven largely by reduced labour costs via offshore processing or by the tech? If largely by offshore processing then yes, I would think there are potential competitors for that area of the business. The tech….maybe / maybe not.
As some posters care and some don't, there hasn't been any info from the Co about where they came from, where they are at and more importantly to me, a road map of how they will achieve their stated goals. Yes, there has been dot to dots put together quite intelligently by various posters but usually the mkt likes to hear (or see) it in black & white from the Co. I myself (like most no doubt) have my own charts & folders of info and web links etc etc built up as part of the DD.
If info can be seen and if the NPAT targets are achievable within a stated realistic plan and business model or there are significant sign ups already (yet to be advised) then obviously the SP is going to appreciate going forward. Is there time to still get on once it is derisked some more and still make some decent coin….I think so. Glyco has wonderfully worked out the potentials on the targets being met.
Anyway, enough of my ramble and wish all holders (new & old) all the best with it….u may just see me with a sentiment change down the track. Will chuck up some chart thoughts on the chart thread as well as I have given some thoughts on that in STT posts as well previously.
(20min delay)