That is my exact concern with model too. Conflicts abound.

They will get a small fine out of this, with the Fund only having $15M in FUM. Vanguard was a lot bigger and fined $12.9M Federal Court fines Vanguard $12.9 million for greenwashing conduct. Slightly different details of course.

@Solvetheriddle , I used to work with Indi before he setup Fiducian & found him to be very straightforward, candid guy. When he offered to buy my business, he was very clear about expectations for funds to go via Fiducian - provided it did not disadvantage the client. In the end, I didn’t sell the business to him although his offer was financially, the best. What you see is what you get with Indi, imo.

As for the integrated conflicts, you’re right, there are inherent problems, although the same conflicts exist with Aussie Super, HESTA, etc. The public just accept Industry fund integration conflicts as a more moral version.

I also used to work with a guy by the name of Ross Bernays at NSW State Suoer. He went on to lead the industry fund, Health Industry Plan but was bulleted for misuse of the company credit card. Hello Boom Logistics ( held IRL)

Bad behaviour as we all know, isn’t restricted to the private sector.

i’m in Kosovo at the moment - flat white coffee for $2.50. Not like Inner West prices!

I’d like to see a pic of that @Rocketrod

enjoy mate

Not great to see, but far from thesis breaking. Management has given back some of the brownie points it has earned over the years - hopefully they will nip it in the bud and strengthen transparency and disclosure in the future.