If advisers are leaving the industry in droves and some advisers will have to cut down their client numbers from 1000’s to maybe 200, who is going to look after all the personal wealth? Do you suspect it will all just go to passive funds? Or maybe platinum/Magellan like retail funds?
The overall wealth pie isn’t getting smaller is it?
Interesting perspective, again thanks for the time.
I found it interesting that although the headline bt price had reduced, the actual costs are pretty much on par with costs moving to other items (as per IOOF results briefing), also IOOF mentioned the loss of grandfathering commissions would cost them very little, and would force money towards more active engagement, better trained advisers with the academy, rather than those big fat ‘1000’s of clients’ advisers which would benefit IOOF. Tough to see whether they’re just talking their own book or not.
IFL Price at posting:
$8.10 Sentiment: Buy Disclosure: Held
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