Jarvis Securities Share Discussion Threads

[justiceforthemany] 15/7/2024 10:36

Ex dividend dates are showing on their website.

[tenapen] 14/7/2024 19:17

The outcome will be an expensive clean bill of health.

There are not many RNS's released by Jarvis giving limited details of the investigation. So as always it's better to read through the pasts reports and make up your own mind.

Regards

[researchcentre123] 14/7/2024 17:22

Just came across this share which on the face of it is cheap - can anyone explain what trouble they got into a couple of years ago and what the likely outcome is? Thank you!

[thrugelmir] 09/7/2024 14:23

Continuing high interest rates will have been beneficial.

[nigelmoat] 09/7/2024 08:05

Should be due a Half Year Report here any time soon.

[tenapen] 28/6/2024 05:24

Q4 - over two years to investigate a two bit broker like Jarvis.

Yesterday's RNS gives us information and a time frame, both welcome.

It will be frightening to do the final sums on how much this has cost us as shareholders.

[thrugelmir] 27/6/2024 12:54

The exacting and demanding standards placed on providing Model "B" client services. Will place JIML in an extremely strong position in the future. Certainly no damage done reputationally so the City is taking this process in it's stride.

The Grant family and close associates control the share register. If they were to sell out. Then us small retail shareholders ar unikely to be disappointed. If buying at current share price levels. The cash generative nature of the business underpins the current buy rating in my view. Since the beginning of June I've bought around 50,000 shares at an average price below 60p. Even if the dividend was slashed to 1p a quarter. That's still a 6.5% yield. With interest rates seemingly destined to move downwards in the future. Locking in now appears highly attractive.

[thowed] 27/6/2024 12:19

I think the fact they've made progress is good news.

Shares remain very cheap. It feels like upside more likely than downside.

Dividend still going, if reduced, & impressive yield is good news.

Waiting until Q4 not ideal.

But as above, if you take a 5-year view (which we all should), then I hope this will have all been forgotten & share price will be significantly higher.

Finally, while not saying Jarvis will be taken over, I think the multiple bids for HL are a good sign for the industry & show that they have been overall undervalued.

[nigelmoat] 27/6/2024 12:13

More waiting.......... until Q4 or beyond!This will come good at some point imo and meanwhile confident we will continue to collect the quarterly dividends. A long term hold and forget about it share for me.

[evaluate] 27/6/2024 10:00

Anybody got any thoughts on whether this is good or bad news?

[cwa1] 27/6/2024 07:45

Jarvis Securities plc



("Jarvis" or "the Company"

And with its subsidiaries the "Group")



Update

The Board of Jarvis provides a further update on the ongoing review of the skilled person, appointed to review the systems and controls of the Company's subsidiary, Jarvis Investment Management Limited ("JIML") pursuant to s166 of the Financial Services and Market Act 2000 (the Skilled Person).

As set out in the Company's annual results announcement of 26th March 2024, the Skilled Person was preparing the Phase 1c report which covered JIML's approach to uninvested client cash, interest retention and term deposits. The finalisation of this report had been delayed from the original expected completion date of 28th February 2024.

The Directors of Jarvis can advise that the final report, including its recommendations, has now been submitted to JIML and to the Financial Conduct Authority. As a result JIML is currently working through the recommendations and is creating an additional remediation plan to address the points arising from the report. This is the third report prepared by a Skilled Person for the FCA and JIML.

Phase 2, which requires the Skilled Person to review the remediation work undertaken by JIML on the matters raised in any of the three s.166 reports, has now commenced and is expected to be completed by Q4 2024. As part of this work the Skilled Person will also be required to provide a Reasonable Assurance Opinion to the FCA (confirming the Skilled Person is confident as to the completeness of the remediation) along with any final recommendations.



The voluntary agreed restrictions on JIML, as announced on 16th September 2022, remain in place. JIML will continue to work with the Skilled Person and the FCA with the aim of having these restrictions lifted on its impacted Model B clients as soon as possible.

[tenapen] 16/6/2024 16:12

Hi Jodi, I hope you're well. A shame I was on a booked holiday that week. I could have got a bus down to the smoke and found my way to a specific place. But would have had no chance to get to Jarvis head office for 8am to start my protest. Just having the prospect of a picket line was job done. The poster who claimed to have gone to the AGM, said there wasn't many folks attended anyway.

Great points well put Jodi.

Enjoy the football

[jody_lloyd] 15/6/2024 10:31

Apologies for being aloof. Traveling. You can shout me down if you want but these are only my thoughts. We all want a share price recovery at this point and it is all about supply and demand. Clearly there is no or little demand for the shares to sustain the demand for recovery.

So maybe tenapen has some good reason as to why there is no real reason to buy. Only reason to hold is for the dividend payments otherwise its would be a clear sell.

The best bet for recovery would be and rightly so the FCA report and a group share buyback and offer the staff a share incentive scheme which makes sense as the lock in period would be around five years.

On another note, I was sad to hear that tenapen did not make the AGM as I think you could have been more direct about the situation.

Anyway it’s now time to focus on England and I will be at my favourite sports pub in Ambleside from midday. Have a good weekend all.

[tenapen] 15/6/2024 08:48

Hi John, Enjoy your day, and continued good luck with your share picks.

If A Grant would have said "Sorry we got it wrong" I wouldn't be so angry. We all fu*k up and that is what makes us human. This board takes some of my rage but re reading the email I sent the FCA, they must have had a laugh. No Kings English with proper diction, to be seen but my point was made and they will look into the three months delay. The fact they will look into this is everything, I don't expect them to come back with a why and where for.......

Football isn't my thing, but the BBC highlights show some good goals by Germany. The Scotland fans are having a good time and that's all that matters.

[melton john] 15/6/2024 08:05

Good morning tenapen, glad to hear back from you. We go back a long time on this board. Sorry about your team getting beat in Munich. Good to hear your enquiry may be reaching where someone can give an answer into the delay. Regarding your previous post "You don't think much of me John," that's not true. You puzzle and frustrate me sometimes and I don't understand why you do some things but we are different people yet similar in many respects. Hey ho the sun is shining and it's stopped raining, have a good weekend. PS looking at the big picture I'm up 100% with JIM over the 7 years so I'm not crying about the short term.

[tenapen] 15/6/2024 06:09

Morning John,
I hope you're happy and your other investments are covering the loses with Jarvis.

While you and the other holders sit quietly waiting for some sort of miracle recovery ! Wrote to and received a reply from the FCA. I had to register with the BoE to read the reply and at the bottom of the email it does say confidential. It basically explained what Thier role is and why they do Thier job across the board. On my specific complaint of a report into a two bit broker being three months late they have forwarded it on and I will hear back.

[tenapen] 13/6/2024 16:41

I'm such an idiot D'ho - I forgot to mention how my negative posts are not ment to and they haven't moved the Jarvis share price. Circa 60p has been the floor / ceiling since December 23. So to accuse me of trashing the share price is up there.

You don't think much of me John, but this pales as to what I think of the silent holders. Jarvis took thier eye off the running of the company, leaving us in this mess. Grant and the board don't even have the gumption to say sorry and yet your silent. Do something proactive and contact the FCA ..... at least register some emotion to the report being three months and two weeks late .... !.

[tenapen] 13/6/2024 12:26

I'm glad your happy John,

I'm Not.

Interesting your allowed to post positive about a dividend and yet I'm an idiot for pointing out the past share price performance.

Enough said, I will wait for the FCA replying to me or Jarvis finally get and release the long overdue ....

[melton john] 13/6/2024 11:29

I'm sure you have heard the expression "useful idiot" tenapen. It means when someone is doing something wrong to your advantage, you don't stop them. No offence meant but your continuing negativity is a great help to those who might benefit from a low share price or wish to blacken the reputation of Jarvis. I'm obviously disappointed I didn't take more money off the table at the start of this bear market but I was happy to carry on collecting dividends here and I still maintain the fall in share price is not primarily the fault of Jarvis management. To that end I've gone over my records of buys, sells and dividends re-invested to see how it has measured up against my objective seven years ago to get a better return on a cash ISA paying peanuts. Being only moderately active in selling the peaks and buying the dips I am pleased to say that the difference between the cost of buys and income from sells and divi's works out at half of the current value of the shares. Using the rough and ready compounding formula that you will double your money in Y years at X% where X times Y equals 70; that works out to about 10% per annum. To be in that position at the end of a bear market is something to be applauded I think and I'm looking forward to a return to more optimistic times soon. If you have chosen a different path to a small amount of trading using the tax break of an ISA, that might account for your differing view, but you can't blame anyone else for that.

[tenapen] 11/6/2024 19:35

Performance - Jarvis securities

Current month +0.83%
1 month - 2.42%
3 months - 25.77%
6 months - 2.42%
Current year +2.54%
1 year - 58.28%
3 years - 77.51%
5 years - 46.58%
10 years - 52.32%

[melton john] 11/6/2024 15:30

10% per annum on present valuation if current rate stays.

[nigelmoat] 11/6/2024 08:22

Quarterly dividend received today.

[tenapen] 08/6/2024 09:55

No easy but my concerns and complaints are in and no prisoners taken - Jarvis - FCA - skilled person
They say they will get back to me .... We will see after they have read !.