Indy was pretty pumped in the presentation. Gave the impression they are moving to another level in scale. With the sale of Peoples Choice financial planning arm to Fiducian and the sales of Heritage Banks financial arm to Bridges a while back I wonder how this plays out with the merger of PCCU and the Heritage Bank ? Some history Customers will be the ultimate winners from Heritage Bank’s decision to sell its financial planning business, CEO Peter Lock said today. Heritage has announced the sale of its financial planning business to Bridges Financial Services, one of Australia’s largest financial planning advisory firms, effective this month. Heritage set up its in-house Financial Planning business in 2010, with a group of advisers based in south-east Queensland. Prior to that, Heritage offered financial planning services to customers via a referral model with Bridges. I postulate going forward that members of the "merged" Heritage Bank seeking financial advice will be referred with a choice ....Fiducian and Bridges. Thoughts ?
Investor Presentation this Thursday, page-3
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