It sound like IOOF is taking a much more considered approach to remediation, and making an effort to identify those clients who have been genuinely disadvantaged and those advisers who genuinely did the wrong thing.
Unlike the banks, which are paying out billions in "remediation" to clients who actually received the services they paid for, are quite happy with the service they got, and don't understand why they're getting a refund. Most of the banks "remediation" is really just a PR exercise.
In order to give you the best site experience, we need to know what kind of investor you are. Please select the title that best describes you below.
Financial Advisers - Investment
Financial Advisers - SMSFs
Individual Investors with SMSFs
Financial Advisers - Insurance
Accountants and Solicitors
Financial Services Professional