SP Movement & General IAM Chatter, page-649

Wouldn't be able to say 100% confidently but I'm 99% sure the breakdown in talks was with NAB not CBA.

All those announcements came soon after the disclosure awkwardness where NAB were aghast IAM were claiming an MOU had been undertaken. Then the embarrassing $800 thingy got clarified around then too. If memory serves there was hints around that time that NAB wanted to operate in the background without too much news spooking current employees. CBA I believe were more than happy to be identified and we know why with the RC they're enduring right now. But back to NAB I believe because early announcements identified them the ASX demanded that any NAB discussions MUST be announced to the market right up until they conclude. No surprise then given they didn't want all of their moves announced publicly, that they 'concluded' talks without any deal as announced. (ref: https://hotcopper.com.au/threads/ann-market-update.3403065/#.WtKW1IhuaMo). It's interesting to note that in the announcement of the 'MOU' it indicated NAB would be sending mock work for IAM to crunch as part of a pilot program (ref: https://hotcopper.com.au/threads/an...standing-with-nab-financial-planning.3265796/ ). Seems a slightly different approach to what CBA's pilot looks like and may show why the NAB deal fell through. If NAB wanted to send mock work and therefore not pay much for it, IAM may have said screw that we need revenue while we prove ourselves ergo deal falls over. CBA are more receptive to that approach and as we've been informed all pilot work with CBA is profitable for IAM while undertaking the pilot.


Interesting to note too around this time people start fretting about Sentry involvement being over because we haven't heard anything. Similar to now where we don't hear anything specific and it allows for all the nervous nellies to speculate to the negative. See this thred (ref: https://hotcopper.com.au/threads/looks-like-sentry-is-gone.3403299/#.WtKXyohuaMo ).
Next minute....(ref: https://hotcopper.com.au/threads/an...ads-of-agreement-update.3471777/#.WtKXUIhuaMo ).

I fall back to PC's comment when he said if we don't hear any news via the ASX about clients leaving then work is progressing nicely and it's business as usual for any and all clients currently on the books. I suspect NAB are still sniffing around but I'm buggered if I could find the reference I was looking for. I could've sworn I read somewhere that they were still in talks in some form but I couldn't find anything official and if it came out of one of the roadshows posted here by a HC member then we can't really cite it as fact can we

If or when as I see it, CBA sign something ongoing after the pilot concludes it will be interesting what happens to the SP. Does the market project the increasing revenue just from the CBA or does it start pencilling in the rest of the big 4 signing up?