Their strategy sounds moronic to me. They really want to be everything with a mostly shared platform! Channel conflict will be a big problem for a start, and dealing with an employee sales model is radically different to a self employed type model. I'd be furious if I was running a business using IOOF, and competing to hire and retain financial planners against IOOF, knowing that they will be motivated to cherrypick the best performers, and potentially use the database data against me. I would slip off and go elsewhere for my services rather than take chances.
Again and again I am fortunate enough to see terrible strategies that create great trading opportunities over time.
IFL Price at posting:
$4.84 Sentiment: None Disclosure: Not Held
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