My opinion on business exposure to financial planning is bordering on self harm. This royal commission is not over. The recommendations from it, and the regulations and laws that will follow, are unknown, unquantifiable and to be frank dangerous.
Don't touch IOOF. Don't touch AMP. I believe they will be both much much lower next year. We have also not yet seen the impact of client losses (need to wait until Feb results to see that). There are so many great financial house investments you could make globally rather than investing right now in an Australian financial planning business.
IOOF ifl strategic entry point, page-4
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