I agree YY. MLC has been somewhat unloved within the NAB. It's a relatively small part of their overall business, and they haven't invested enough into the brand compared to their wealth management competitors. Distracted by all their overseas "investments" (in particular Homeside) which smashed the balance sheet over the last 20 years. MLC could have been a jewel. Sad really for an iconic Australian brand from the 80's and 90's and before then too. There is seriously a lot of moving parts to MLC. They all require development and capital to be invested to keep them competitive and relevant to customers and advisors. It is my hope that IOOF will do exactly that. It is my bet that we will see customer service / industry opinion of MLC improve under IOOF. I'm putting my money on it. DYOR.
IFL Price at posting:
$2.99 Sentiment: Buy Disclosure: Held
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