I work in a financial planning firm under IOOF. The compliance and strict procedures that have been implemented over the last 2 years is crazy. They have gone past what is required by ASIC and moved to a more proactive stance by implementing things above and beyond ASIC expectations.
IOOF is no AMP or Bank adviser.
The double edged sword is that it is a very unattractive to use as a licensee as they are so strict. I expect more firms to go independent rather than comply with IOOFs over the top compliance.
IOOF with make their $$$ from FUM
IFL Price at posting:
$3.62 Sentiment: Hold Disclosure: Held
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