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IOOF Holdings Limited continues to fall

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.

Top 3 ASX Blue Chips To Buy In 2018

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Motley Fool contributor Rosemary Steinfort owns shares of Australia & New Zealand Banking Group Limited. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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