We Think Market Concerns Are More Than Factored Into IOOF's Shares

IOOF adopts a multibrand business model. This helps it appeal to a broader set of clients and was effective in alleviating the Royal Commission reputational damage. Immediate priorities include setting a higher bar for advice quality and restructuring the advisor network. Tighter compliance and education requirements are enforced to ensure high operating standards. IOOF also intends to increase the proportion of salaried advisors within its network, as this helps the firm extract higher gross margins.