Jarvis Securities Share Discussion Threads

[thrugelmir] 23/4/2024 16:30

Thanks QG. Extremely informative. A positive use of this media channel for once.

[melton john] 23/4/2024 10:07

Thanks a lot QG.

That supports my perception of where we are and helps to balance the unfounded scaremongering by some other posters.

I live much too far away to attend myself unfortunately.

[steelwatch] 23/4/2024 08:48

Thank you QG.

[qg holdings] 23/4/2024 08:35

Good morning steelwatch, sorry for the delayed response. I wanted to add to my position before letting people know how the AGM went, and had a few trading partners to inform first. The curious movement down in the share price the last few days allowed me to add to my position.

The mood of the room was relaxed and reasonably positive considering the general sentiments surrounding JIM this past year. It sounds like we are through the worst of the current FCA situation. Luckily not many members were in attendance so we were able to ask quite a few questions each and gained some interesting information.

I will keep it brief as I have a tendencies to digress. Trade volumes are materially up on last year (circa +20%). The FCA investigation is going well and should draw to a conclusion before the second half of this year, JIM has not been specifically picked out for investigation, the FCA have been reviewing the sector as a whole. We discussed perhaps using some of future dividend hikes to repurchase shares while the MCAP is disconnected from the true value of the business. We discussed the future cost savings from streamlining the business. We discussed potential ways to increase clients and market share. All resolutions were passed easily. Mr Grant seemed calm and philosophical, he answered all questions comfortably and seemed upbeat regarding the future of the company. There are potential new model B clients and private investor balances and numbers are slightly up on last year, there has been no flight by the client base. Model B clients have remained stable since the clear out.

In summary there has been a lot of unfounded scare mongering on this company, while it has benefitted me allowing me to massively reduce my average price paid and increase the percentage of the company I own, I feel those wishing to enter at a lower price/close short positions only have a couple of weeks timeframe before the stock price goes significantly higher when the next dividend is announced on the 9th May.

I am bullish, I see an excellent dividend, significant upside, a potential takeover by a larger rival (Mr Grant says he is openminded on this matter), and earnings growth as 1)the sunk cost of the skilled person review will no longer hamper the bottom line, 2)trade volumes are up 3) the interest rate is still favourable to the business model and will remain so for longer than most anticipated.

I hope this information is useful to you.

[steelwatch] 19/4/2024 17:00

Did anyone actually make it to the AGM? If so, what was your take from formal/informal Q&As?

[tenapen] 19/4/2024 16:54

.......cos that's all we have..... hope

[thrugelmir] 19/4/2024 16:50

Many of us are also living in hope..........

[tenapen] 19/4/2024 16:01

He was hopeless.

Going back to his rant in the chairman's statement about the MiFID rules and the added costs, leading to a crash in the share price at the time.

Then we had the IMHO the pointless four to one share ...... Why ? Because the nodding head board didn't think people would buy JIM shares at a higher price. They got that bit right. The added expenses of the changes for no reason.

Shames they didn't keep their eyes on the regulations rather than the share price, we wouldn't be in this mess.

No lose to see him go.

[melton john] 19/4/2024 09:16

I agree, when I said I retired, I stopped working for someone else. Still investing at 78. Just good business practice to have a succession plan for the future.

[thrugelmir] 18/4/2024 15:54

Met plenty of business people who remain active well into their 80's. Astute as ever. Keeping their minds active is what keeps them young.

[melton john] 18/4/2024 08:42

According to Companies House, Mr Grant will be 65 years old in June so as I've suspected, thoughts of recruiting a successor for JIML have been brewing for a while. I wish AG well for a gradual wind down to retirement when the time suits him. I retired 20 years ago but still kept busy doing things I want to do but don't have to.

[cwa1] 17/4/2024 16:38

Jarvis Securities plc



("Jarvis" or "the Company"

And with its subsidiaries the "Group")



Strategic Update



The Directors of the Company provide the following strategic update on the Group:



The Group will be 40 years old in June 2024. It was founded and has continued to be led by Andrew Grant. Andrew is now working to strengthen the senior management team of the Company's operating subsidiary, Jarvis Investment Management Limited ("JIML") to help facilitate his retirement. There are no planned changes to the management of Jarvis itself, but there have been, and will continue to be, changes at board and senior management level of JIML. These changes at the operating level are intended to enable a smooth transition, and for Andrew to take a step back from that business over a gradual period.



The Directors confirm that Kieran Price will remain as Finance Director of the Company and Steve Middleton will remain as a non-executive director of both the Company and JIML.



A recruitment process to identify and select Andrew's successor as Managing Director of JIML will be carried out with a number of specialised agencies and it is intended that Andrew would retire from JIML by 31st March 2025. In the interim, with effect from 1 May 2024, Will Kett will be appointed as deputy MD of JIML to assist with the handover of relevant responsibilities.



At this stage, and as set out above, Andrew Grant does not intend to retire from, and will remain as Chief Executive Officer of, Jarvis; which, as parent company of the Group, will retain oversight of the Group.

[fegger] 12/4/2024 09:34

Have to say when Abrdn acquired Interactive they updated their site and it is worse since they did that. Quite extraordinary how many screens you have to go through to get in now. And the screens overall are a mess. Their pricing is good and staff helpful but I wish they would un update the site - it was better previously

[phowdo] 12/4/2024 09:16

> Investing has become gamified.

It has. And has attracted a big swathe of younger investors/traders too. I fear it will be those who lose out big time in the next downturn. But they have to learn somehow. Otoh I do have an account with Trading212 and I can see how for smaller accounts the zero trade fees, fractional shares and tiny FX fees really do make it easy to start small and invest outside the UK. No wonder the London markets are moribund nowadays. Democratising personal investing is a good thing. All the flashy bells and whistles and gamification less so.

[thrugelmir] 10/4/2024 11:15

Used to be websites that were style over substance. Now it's Apps. Investing has become gamified.

[saucepan] 10/4/2024 07:02

Melton John. Yes, I do rememember when the interface was under the control of a third-party provider. I learnt that fact when I wrote to Jarvis to say how unsatisfactory I thought their platform was. At the time, they explained they were soon hoping to have the platform under their own control and I could look forward to seeing major improvements. One of my disappointments was that it was never substantially different. In fairness, however, I agree that reliability of the simple things it does has improved over time - but that is arguably the case of technology generally. I'd also give Jarvis credit for the politeness and efficiency of their dealing staff on the occasions I have had to resort to telephone dealing.

I am glad the service is to your satisfaction and thanks for the reply.

[thrugelmir] 09/4/2024 18:12

Be wrong to assume that JIM is being singled out for particular attention. Those that survive the course often come out the stronger. Covid drove a huge spike in trading activity everywhere. Never was going to be sustainable.Active trading accounts in the US are down by around 40%. People have again found other things to do with their time.

[saucepan] 09/4/2024 18:09

Melton John: as you have been a customer for 20 years or so, have you noticed one iota of improvement in their trading platform in that time? With a similar customer track record, I certainly have not and I think it is indicative of unwarranted business complacency.

I transferred from X-0 to interactive investor a few months ago. The resources available to private investors and the whole trading experience are infinitely superior.

Justiceforthemany: it might be. However, when you consider that you have the whole universe of FTSE listed stocks to choose from: is this the most promising? I think not.

I have no real axe to grind with JIM, not least as I was fortunate to be invested to the 300p levels, when I thought price had got ahead of itself. I had not anticipated terminal decline at the time of my lucky exit, but it rather seems that way to me these days. No advice given or intended, just personal opinion.

[melton john] 09/4/2024 17:54

Well I am obviously biased towards a yes having put my money where my mouth is. I think there is obvious upside but until the FCA review is completely finished who can say what that might be. They finished the year with over £5 million cash so I would dismiss the opinions of they who are saying we're doomed. Fair to say that with a following wind from interest rate rises we got a handy boost but that has probably been swallowed up with costs of the review, and with reduced trading and ending of some "Model B" relationships to reduce the risk of financial crime recently, we won't see £3 again any time soon. However, numbers of Model B clients have stabilised I understand and markets are busier so as long as extra compliance costs and changes to charging structure are reasonable and comparable to competitors they should continue to overcome difficulties as they have several times in the past 20 years that I've been a customer.

[justiceforthemany] 09/4/2024 16:35

Worth a punt?