The companies, products and regulatory developments shaping the broker industry.
The restructuring programme has closed and management says more than $160 million of net expense synergies were actioned, but the statutory-versus-adjusted earnings gap remains substantial.
IG’s own tables show that Freetrade and Independent Reserve transformed the customer denominator far faster than the revenue line, a distinction obscured by the 66% reported customer-growth headline.
The ceiling mixes seller contingent consideration with future-service compensation, but the filings do not disclose the split or current expected payout.
Assumed-liability funding and post-combination expenses explain a $751.9 million gap between the transaction’s cash requirement and its accounting purchase price.