IOOF Holdings Limited's (ASX: IFL) share price is down 5% at the time of writing to $9.03, and has been trending down in the last six months by a total of 15%. According to Australian Securities Investment Commission's latest registry of licensees and their owners, IOOF will be second-largest licensee owner with the integration of Australian and New Zealand Banking Group's (ASX: ANZ) wealth-management business.
Concerns regarding the impact of the Royal Commission on IOOF and ANZ wealth-management business continue to linger, which may be misplaced as IOOF has reassured investors that any liabilities arising after the acquisition of ANZ Wealth will not impact IOOF. The integration of the wealth business into IOOF's current business is now on the agenda and whether it can be done smoothly.
IOOF is a financial services provider offering a range of investment products as well as portfolio administration services.