Is a breakout imminent?, page-26

Alan Kohler interview with the CEO is on the Intelligent Inv website.

CEO says that one of the main reasons why PPS has not grown as fast as HUB or NWL is the narrow product offering. Snippet of the interview below.

Right, so is it fair to say that you're not growing as quickly as Netwealth and Hub?

No, we're not growing quite as fast as them at the moment, they're extraordinary success stories, I have to be honest, in terms of...

Why not?

One of the shifts we've had to make in our business is to broaden our product offering. We've had until recently a quite narrow product offering, specialising in the managed accounts part of the platform market, but managed accounts, whilst they're a pretty fast growing part of the platform market, they still only make up about 20 per cent of the total market, so 80 per cent of the platform market is a more traditional wrap offering which we haven't had, so that's been a development that we've had on the go and we haven't publicly launched it, but we have opened up our wrap account for clients to use and we've got a few accounts on that at the moment and we'll do a big public launch of that later. I think just not having the full product suite has probably been one of the handicaps for us in the market and that's now about to be addressed.