NAB to revamp Your Prosperity
Despite losses in excess of $10.7 million over two years, funds management and online broker, Your Prosperity Ltd will be developed by the National Australia Bank. Your Prosperity is a subsidiary of MLC and is a direct competitor of NAB's online service, National Online Trading. However, industry insiders believe NAB plans to market Your Prosperity as a discount broker whilst National Online Trading targets larger investors. In addition, a multi-million dollar ad campaign will be launched in an effort to boost Your Prosperity and its flagging revenue.
‘NAB to give Your Prosperity shot in the online arm', George Lekakis, The Australian Financial Review, 26/06/00, p 35.