Australian (ASX) Stock Market Forum

IFL - Insignia Financial

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Dona Ferentes said:
SPIN

IOOF suffered net investor redemptions from its financial advice and funds management units in the September quarter, although increases in fund holdings helped to push up overall assets under management and administration.

There was $1.4 billion in net outflows during the quarter while market gains of $2 billion pushed overall funds under management to $98.3 billion.

Funds under administration edged $1.8 billion higher to $222.8 billion despite net outflows of $900 million as market gains added $3.4 billion to the overall total.
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Not a good look when a company wants to change its name after 175 years, kind of indicates how much good will they apportion to their brand IMO.

Insignia Financial

Financial services giant IOOF has launched its first significant rebrand in 175 years of operation and announced it will change its name to Insignia Financial.22 Oct 2021

DNH
 
Change of Company Name Following approval at the IOOF Holdings Ltd Annual General Meeting on 25 November 2021, we are pleased to announce that the change of name process with the Australian Securities and Investments Commission has now been completed and the Company’s name has been changed to Insignia Financial Ltd.
Attached is a consolidated constitution which incorporates the amendments approved by shareholders on 25 November 2021. The ASX listing code for the Company will remain the same, IFL. -ENDS

DYOR

i hold IFL ( deeply in the red )

i see name ( and/or ticker-code ) changes as a red flag in most circumstances

( it strongly hints your brand is trashed )
 
divs4ever said:
Change of Company Name Following approval at the IOOF Holdings Ltd Annual General Meeting on 25 November 2021, we are pleased to announce that the change of name process with the Australian Securities and Investments Commission has now been completed and the Company’s name has been changed to Insignia Financial Ltd.
Attached is a consolidated constitution which incorporates the amendments approved by shareholders on 25 November 2021. The ASX listing code for the Company will remain the same, IFL. -ENDS

DYOR

i hold IFL ( deeply in the red )

i see name ( and/or ticker-code ) changes as a red flag in most circumstances

( it strongly hints your brand is trashed )
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Another one of my dogs, sold out when they said they were going to buy MLC off NAB.
It certainly says something when you bin the goodwill that is attached to your 200 year legacy FW's IMO.
Another one I held that did the same thing was Candle, changed the name to Clarius and strapped themselves in for the rapid slide down the pit.
 
i may yet regret not doing the same

i probably should have suggested it for gg's Dogs of December , but i think gg was looking something that MIGHT have a reason to go positive

this is still very low priority on my top-up list ( or average-down which is probably more accurate , since i am down more than 50% , so far )
 
divs4ever said:
i may yet regret not doing the same

i probably should have suggested it for gg's Dogs of December , but i think gg was looking something that MIGHT have a reason to go positive

this is still very low priority on my top-up list ( or average-down which is probably more accurate , since i am down more than 50% , so far )
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I wasn't saying they won't come good, but IMO the reason the banks got out of super was because it is difficult to compete with funds that don't pay a dividend, having to beat them on performance when you have a 4% dividend handicap will be difficult IMO.
Just my reasoning, hope you get back in the black, I lost about 30% on them from memory, bought in around $5, when they where a nimble clever operation.
 
sptrawler said:
I wasn't saying they won't come good, but IMO the reason the banks got out of super was because it is difficult to compete with funds that don't pay a dividend, having to beat them on performance when you have a 4% dividend handicap will be difficult IMO.
Just my reasoning, hope you get back in the black, I lost about 30% on them from memory, bought in around $5, when they where a nimble clever operation.
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mine set me back $8.67 , but i see several coming headwinds , one being the persistent government meddling ( by word and regulation ) in the investment/Super industry , now several local players have been brutally savaged and IFL MIGHT leverage that for a future turn-around , but comparing it to the JHG i have bought during the same period ( i held some as Henderson before that)

i guess one might ask if the difference is management or geo-political risk ( one is up more than 50% and the other down 50% in the same 4 years )

now that turn-around possibility is what has kept it on the potential top-up list , but when do i concede those brief hints of growth are just attempts to buy their way out of trouble ( with certain asset sellers staying on the hook to cover expected adverse outcomes )

still that investments in this industry have been mostly a positive outcome ( BTT @ $2.30 turned into PDL ) even PAC has finally got back to break-even .

this is my 'dog' in the sector , but the question is is it also opportunity winking at me

DYOR

( similar to when i backed up the truck for those 40 cent BSL sure they consolidated later to give an effective buy-in price of $2.40 , or is IFL still on the long and winding road down like OST/ARI )
 
Could IFL be forming a decent base after a good market response recently? Anything is possible - find out more from an analysis of the charts within the attached video looking at an analysis of the overall market, sector analysis of the financial sector, as well as analysis of IFL:

 
mmmmm

I'd be interested in Divsie's @divs4ever take on this little yapper.

By my reckoning it has been paying near 10% in divies, and on the face of it would be a "brave" buy in any circumstances, but shortly may be too cheap to ignore.

1701726856709.png


gg
 
Garpal Gumnut said:
mmmmm

I'd be interested in Divsie's @divs4ever take on this little yapper.

By my reckoning it has been paying near 10% in divies, and on the face of it would be a "brave" buy in any circumstances, but shortly may be too cheap to ignore.

View attachment 166685

gg
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currently have IFL and PTM on my 'ignore list ( i hold both deep underwater )

very few of the fund managers are doing anything more than leaking funds under management , and without stellar performance can you really blame investors for liberating capital .

add to the fact the Hayne Royal Commission was rather unkind to IFL ( but not as nasty as it was to AMP ) and you have reputation damage to leverage a better discount , i can't see me buying above $2 , and so far can't see much reason to buy any pure-play wealth manager ( at current prices )

at sub $2 i am more likely to add extra MYS ( as i did in October ) and harness the bank/wealth manager balancing act

wealth management , i think, will face further testing times in the near future
 
divs4ever said:
wealth management , i think, will face further testing times in the near future
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Listed Fund/Wealth managers is another sector that Greg Canavan is taking a contrarian stance on - he has previously made supportive arguments on the fossil fuels and reits sectors. His latest recc for this sector is ... IFL. That should put paid to Garpal's interest.

Not Held
 
i have a few ( IFL and other wealth managers )

PDL was a good winner for me until it got taken-over ( bought it as BTT )

i see more stress to come in the financial markets ( aided by the ESG and Climate Change crowd )
 
Insignia Financial announces appointment of Scott Hartley as Chief Executive Officer

Insignia Financial (ASX: IFL) is pleased to announce the appointment of Scott Hartley as Chief Executive Officer (“CEO”) of Insignia Financial. Scott joins Insignia Financial following an extensive search to replace Renato Mota, whose departure was announced in late October.

Scott will commence in his role as CEO on 1 March 2024 and will join the company from 26 February 2024. With over two decades of experience in the wealth management sector, Scott has a breadth of industry knowledge, most recently serving as CEO of AMP Australia. Prior to AMP, Scott was CEO of Sunsuper and led MLC’s corporate and institutional wealth businesses.

Commenting on the appointment, Allan Griffiths, Insignia Financial Chairman said: “Scott joins at a pivotal point in the business and his appointment is key to providing a fresh perspective as we continue into the next phase of executing on our strategy.

“Scott’s deep experience and strategic leadership will be critical as we continue to build on our established foundations and move forward with clarity and focus on the opportunities our market position and capabilities provide.

“On behalf of the Board I would like to welcome Scott and look forward to working together. I would also like to express my gratitude to Renato for his 20 years of service and dedication to the organisation, five of which as CEO.” Incoming CEO, Scott Hartley said: “I am honoured to be chosen to lead Insignia Financial and excited to be joining Insignia Financial at this transformational time as it builds upon its strong foundations to support Australians to achieve greater financial wellbeing.

“Insignia Financial is uniquely positioned in the industry, with capabilities in advice, platforms, superannuation, and asset management, and a strong client focused culture which can be leveraged to create value for all stakeholders, including shareholders, clients, advisers, and members.

Insignia has an exciting future and I look forward to working with the Insignia team to accelerate execution of Insignia’s strategy.” Scott will also join the Insignia Financial Board as Executive Director.

Material terms In accordance with ASX Listing Rule 3.16.4, a summary of the material terms of employment is annexed to this announcement.

This announcement was approved for release by the Board of Insignia Financial Ltd.

i hold IFL

... and that's how to get your company a two year ban from my 'top up list '

but possibly earn a promotion to my 'up for sale list '

crikey this director game really is a revolving door thingy
 
Market Matters arvo report:
  • Insignia (IFL) +13.64%, the old IOOF ripped higher, apparently in the crosshairs of Brookfield. StreetTalk reporting sources said Brookfield’s interest is “very early stage” and no decision had been made to table a bid or formally approach the board.
 
Greg Canavan was first among the pros with his IFL tip, accompanied by analysis, and opened a position with Perenti in March.

Not Held

The market wakes up to Insignia’s potential

​
​
greg-canavan-96.png

Greg
Canavan

  • The market wakes up to IFL’s potential
  • Perenti generating plenty of cash
  • Why Woodside is betting on the US
  • How to correctly weight your portfolio
  • Thanks for your feedback on the mental health issue
Dear Bozo,

This week provided solid evidence of the effectiveness of our investment strategy.

On Monday, two of our companies — Perenti [ASX PRN] and Insignia Financial [ASX:IFL] provided positive updates. Both share prices rose more than 5% on a day when the broader market fell 0.5%.

The price didn’t rise because of the good news. It rose because the market has mispriced these companies. There was and is a lot of pessimism in the price. So when good news hits, the share price jumps.

It doesn’t always happen like that though. Sometimes companies with a lot of pessimism priced in keeps delivering pessimistic news.

It’s my job to find the ones that are mispriced.

I think that is the case with both PRN and IFL.
 

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