The consistent issue with Selfwealth is they continue to...

The consistent issue with Selfwealth is they continue to position themselves as a financial services business and they continue to hire management and the board accordingly.

At the end of the day success has nothing to do with the breadth of assets available on the Selfwealth platform, access to assets is highly commoditised hence the race to the bottom of low cost brokerage fees.

If a customer wants access to 60 different markets they could sign up in under 30 minutes to 10 different online brokers and gain access take your pick. Selfwealth offering HKEX would have had zero impact on the bottom line, if anything it cannibalised ASX revenue.

The fundamental flaw with Selfwealth's management & board is they fail to understand that they're a software company plain simple. Selfwealths job is to build high function software, that frictionlessly connects its customer to capital markets while helping them make informed buy/sell decisions. It a pretty simple business, it is fundamentally the same as any eCommerce business but they just happen to be selling equities. It's not about what Selfwealth sells to its customers it is about how they sell it and importantly how the customer experiences it, that will lead to growth.