[sgbuffett]

Phillip always innovate but cannot make it big. Because i heard their Boss if 2 brothers are big miser..very Cat one...pay very low to staff even performance is good.

Innovate? ...I think they just copy.

I find our traditional brokerages including Phillip never expand to "fulfil client financial needs" rather than just think of making commissions.

Philip is still one of the better ones still got some new products and talks. Others are  just dinosaurs.

They were well positioned to be something bigger and better but many just complacent.

Now the new players Futu, Tiger, iFast come in to eat their lunch.

Endowus for example found a niche in CPF investing and low cost investing....and quickly fill this gap. iFast started with offering unit trust went into brokerage business by under cutting existing players and now going into fund management.

This is a business with a lot of potential ...