Jarvis Securities Share Discussion Threads

[jaknife] 20/11/2023 11:01

purple11,

It's impossible to completely dismiss such comments but it does strike me as alarmist.
I can't see JIM going bust in the near future.

However, I don't think that anyone was predicting that the FCA would be opening a second investigation and on the topic (interest on cash balances) that contributes most to JIM's profitability!

JakNife

[purple11] 20/11/2023 10:53

are we sure all the hot talk about Jarvis going bust has real merit to it?

im sure the FCA wouldnt want that and Jarvis has been trading over 30 years.

isnt this just a rough patch that Jarvis will recover from?

[steelwatch] 20/11/2023 08:24

"In the past two decades, the number of households directly owning stocks and shares has fallen from 23 to 11 per cent"

[melton john] 19/11/2023 14:04

Always interested in FACTS tenapen, please mention whatever facts you have. You seem surprised that Mr Grant sent you a curt reply, considering your posts what did you expect a love letter? I'm looking hard for reasons to go or stay, you seem to have limited your posts to whatever confirms your negative opinion and whether your intention is to drive down the share price or not that is something that you're helping to do. As I said earlier there is liquidity in JIM so feel free to place a few limit sells over the next week and move on, it's your choice. I know it's a tough choice but is anyone holding a gun to your head?
regards, MJ

[tenapen] 19/11/2023 13:06

Hi John,
I'm not trying to drive the share price down, but I will say my mind and post facts even if it does make my loses greater. Ex_jimempoyee with it's accusations may or may not have been an ex Jim employee! but I'm convinced Thug is / was am employee, he could be Mr j Head ! and I know from Mr Grants curt reply and screenshot of my posting here, he follows this thread. I want to keep reminding then how much of a disaster, they the Jarvis management have let the company become. They haven't lost a contract to a better company etc, it's all down to their mistakes. Even the update in May about the investigation being completed and FCA signing it off in Q4 was a load of nonsense - the investigation has been widened with no end in sight.
Forgive me for not staying quiet like a dutiful office worker. I'm from the building trades where you tell it straight if someone has ..,.. made a mistake, as i expect other to tell me when I scr3w up.

Regards

[tenapen] 17/11/2023 18:50

Yep, squeamish1

I hope they feel as sick at the way this has sunk as I do. They will though have some fancy accountant who will soften the blow.

At least the sacked FD Jolyon Head is sitting on a nice pile ! after his share sales.

Directors Deals for Jarvis Securities (JIM)
Announced Traded Action Notifier Price Currency Amount Holding
13-Oct-22 12-Oct-22 Buy Stephen Martin Middleton 138.00 GBX 10,000 20,000
11-Oct-22 11-Oct-22 Buy Stephen Martin Middleton 135.00 GBX 10,000 10,000
30-Jul-20 30-Jul-20 Sell Jolyon Christopher Head 660.00 GBX 2,500 17,376
21-Jul-20 21-Jul-20 Sell Jolyon Christopher Head 645.60 GBX 3,500 25,876
16-Jul-20 16-Jul-20 Sell Jolyon Christopher Head 623.00 GBX 2,500 25,876
16-Jul-20 16-Jul-20 Sell Jolyon Christopher Head 600.00 GBX 7,500 25,876
18-May-20 18-May-20 Buy Jolyon Christopher Head 595.00 GBX 4,475 545,000
18-May-20
18-May-20 Sell Jolyon Christopher Head 595.00 GBX

[squeamish1] 17/11/2023 18:31

Bleak reading Tenapen. Agreed, some colossal f* ups here letting things deteriorate to Section 166 territory.

To be a fly on the wall at the Grant family Christmas, wondering how dear old Andy managed to turn the family holding from £70m into £10m in the space of two years.

[tenapen] 17/11/2023 14:02

Let's hope the Grant family free us from their mismanagement and sell Jarvis.


Performance

1 day -4.29%
1 week -35.16%
Current month -47.93%
1 month -52.82%
3 months-58.98%
6 months-68.59%
Current year -69.08%
1 year -69.08%
3 years -76.63%
5 years -58.56%
10 years -52.20%


Hopefully to an American company where customer service is key.

[melton john] 14/11/2023 14:40

That's not the case with shares like Jim that apart from auctions, can only be traded with a market maker as an intermediary. Market makers like to work within a large spread and are able to trade above or below the mid price as it suits them. Have a look on level 2 if you don't believe me. You'll only see MM quotes, some on the bid some on the offer. JIM isn't on SETS.

[n0rbie] 14/11/2023 14:05

Every buy is also a sell - each is a "trade". The only thing relevant is the price.

[1hroy] 14/11/2023 12:59

JohnFound that a lot when dealing

[melton john] 14/11/2023 11:26

Buys showing as sells. Just bought 5000 @56.8p
EDIT
Prior to my buy quoted 58 to sell 5000, no kidding.
Do we have a big buy order in?

[garbetklb] 14/11/2023 10:07

I used to work in insurance - so have a predisposition not to believe people when told "oh, that could never happen"

So, a few years ago, went to see 2 brokers (Share Centre & Alliance Trust Savings) specifically to ask them to tell me how shares held in a Trustee account were safe. In both cases, they seemed bemused that I was concerned and went on about how the Trust Company was a separate legal entity etc, so there was no chance of them going astray.

My conclusion (and this is just a personal opinion) is that it's v unlikely for shares to go missing from a Trustee account - but not impossible.

If the broker is part of a larger organisation, the parent will probably put things right - so I'm comfortable with Iweb (a trading name of Halifax Sharedealing, owned by Lloyds Bank).

If the broker is big enough to be a political problem, the account holders will probably end up being bailed out (cf Equitable Life) - so I'm comfortable with Interactive Investor.

My daughter's sharedealing account is with AJ Bell - because they are pretty much the only broker who will allow a Trustee account. I'll definitely review when she's 18.

I'm a v small shareholder in JIM - I doubt I'd be a customer.

[2cmb] 13/11/2023 21:39

Thank you for your input guys.
Much appreciated. Thank you for taking the time.
ATB.

[saucepan] 13/11/2023 20:33

Yes, your personal circumstanes do sound more complex.

I hope the points made may still be of value to others, especially: not going over £85k with any single broker if you can easily avoid it; and regarding the double protection (2 X £85k) if you and your spouse split your assets: e.g, in separate ISAs or share accounts.

[spectoacc] 13/11/2023 20:18

SIPP problem is having a trustee - did have one once who allowed 3 different brokers, but not convinced there's many/any around now except the full service ones, and eg a 7-fig SIPP would need 12 different brokers - no chance! And no splitting with spouse, and possibly countered by ISAs etc held with same broker.

If JIM failed, there'd be a short period where everything would roll over to another broker - has happened even with the dodgy ones. But in a total failure and no bailing out, I reckon the nominee holdings would be safe, but the cash swipeable in the same way some solicitor client funds have been during frauds.

[saucepan] 13/11/2023 20:08

SpectoAcc. That is a nice problem to have :-)

However, I don't think it is too difficult to find 7 or more brokers: and that number can be halved if you are splitting assets with half of the assets in a spouse's name. You both get the full protection.

No financial advice given or intended. Each to their own.

btw: it has not cost me anything to move my SIPP from Jarvis to Interactive Investor. The latter covered the costs with cashback.

[spectoacc] 13/11/2023 20:02

@Saucepan - and if there aren't enough brokers to spread 7 figures? ;)

Just read #3247 - true, but my reassurance is seeing my trades go through the market. Guess a fraudster could subsequently sell them but I feel pretty safe.

I'd be more concerned about holding excessive cash, whether in ISA or SIPP, with a broker.

[saucepan] 13/11/2023 19:58

Agreed Melton John

However, post 3247 still applies, however small you consider the risk to be. Therefore, if you have assets greater than £85k with one broker (which seemingly appplies to 2cmb),it makes sense to diversify to an additional broker in my view. At the very least you can still trade somewhere if other assets are temporarily frozen.

[melton john] 13/11/2023 19:38

I asked the same question when I got over £85K and I was told that shares are held in nominee accounts with you as the beneficial holder. These shares and cash deposits are ring fenced from JIM's accounts so are safe anyway. The compensation is to cover fraud or theft where a company could be running some sort Ponzi scheme or otherwise just taking your money under false pretences. Client cash is deposited in safe money market accounts. There is no suspicion of any wrong doing or collapse of the company AFAIK. The broker forecast on Stockopedia show annual divi similar to this years total and eps of around 12p for 2024 and well covered by cash even after skilled person fees. RNS said present business equal to market expectations. If clients are starting to invest rather than leaving cash on deposit then one should cancel the other and presumably if they are obliged to pay interest they might make a change in the fee structure which is subsidised by interest earned. Everyone else has custody charges etc which JIM don't.

[saucepan] 13/11/2023 18:38

2cmb: see posts 3240-3247 above. This was discussed a few days ago.

(I hope I am allowed that reply, as I am not discussing the merits or otherwise of JIM).

[2cmb] 13/11/2023 18:14

Good evening Guys.
First of all I am sorry for the shareholders here. Not a nice state of affairs at Jarvis.

I have a question if some learned person can answer me please.
What are the implications for Share deal Active holding ISA and Nominee account holders ?
I have around £100 K investments held in my ISA and Nominee accounts. My life savings.
Seriously question. Thanks in advance.

[n0rbie] 13/11/2023 15:51

I've sold today after that RNS. 10 year low. This looks like it will be dragging on for years.