Jarvis Securities Share Discussion Threads

[garbetklb] 22/11/2023 21:09

Knil - your £300k assets held with JIM should be in a ring fenced account, so completely separate from the company's own finances. But it's still only protected by the FSCS up to the £85k limit.
Key point is that the FSCS should not need to be called on. Need being the word.....

[knil] 22/11/2023 20:07

If my £300,000 stocks and shares ISA is ring fence protected here with Jarvis and moved to another provider if the company landed in financial trouble.
Why is it that a cash ISA with the likes of Nationwide building society only protected to the maximum of £85,000?.
Would it be because of the companies and funds held within the stocks and shares ISA?
I might have this wrong but any replies appreciated.

[melton john] 22/11/2023 10:52

Can you rephrase that with some punctuation please. I don't get what you are saying.

[4spiel] 22/11/2023 10:30

The question raised about % on client cash balances They paid out in higher dividends up to 3p a share per quarter

[melton john] 21/11/2023 15:46

Continuing with my looking for clues, I searched for infomation from the FCA website and found a copy of a letter sent to all CEO's of financial services companies informing them all of their duties preventing financial crime and ensuring satisfactory outcomes for clients.

A couple of extracts of particular interest:
-------------

...we are particularly focused on ensuring you prevent financial crime and meet your Consumer Duty outcomes. Our supervision is shifting to become more assertive, intrusive, proactive and data driven. We are conducting more short notice and unannounced visits where we deem it appropriate. And we are significantly increasing the use of our formal intervention powers for the worst cases.

and

We welcome the 99% response rate last year to our data survey. This resulted in a number of interventions, skilled person reviews and improvements to systems and controls, governance, leadership and products and services.
---------------

So every company in the sector is being looked over and hopefully the whole business will lose its reputation of being "too risky let's just put the money into property". For the latest installment, I don't see any worries with Jarvis's low cost but no interest, simple business. No complicated derivitives, no hidden charges, straightforward t's and c's,and no credit.

[4spiel] 21/11/2023 13:37

It is the FSCA CASS handbook need to read the rules they have to comply shows that the assets are fully ring fenceced for beneficial owners

[skyracer] 21/11/2023 09:13

Just a small technical note :

Today's sell 13583 at 50.5 was yesterdays buy at 13583 at 53.0

Today's sell 14091 at 53.25 was yesterdays buy 14091 at 52.45.

Very short term trading.

[jody_lloyd] 20/11/2023 16:31

I think we are talking crossed purposes. I have objections with politicians trying to interfere with the markets.

Now if they come up with a thorough well thought out plan and strategy, I would champion it.

[bmcollins] 20/11/2023 16:15

I have been a long term shareholder and a very happy customer with JIM, but I have to say I am underwhelmed by the new CFO.
After market close on the day by which they were supposed to release Q4 numbers I emailed the contact email asking why the delay, saying market becomes suspicious of delayed announcements etc & received no acknowledgement, let alone a reply.
I sent a further 2 reminders and eventually, after emailing Andrew Grant pointing out the lack of reply from the new CFO, I received a response from the CFO, which was meaningless & did not address my concerns.
This is less than encouraging for shareholders when you have "management by no management", such as this.
Have any other posters tried to request non insider information as I did and received a similar response or was I just unlucky ?

[melton john] 20/11/2023 16:06

I don't think there was any hint of MP's duping investors, more to find ways of offering incentives to halt the decline in UK small caps; good companies that do list on UK markets are too soon tempted onto Nasdaq or NYSE. I'm sorry you think thats a stupid idea.

[jody_lloyd] 20/11/2023 15:14

Agree @saucepan I would say there will be more news to come, as with you and throughout my career in the financial world I am a firm believer in the rule of three.

This is why I think we may see sub 40 pence, levels are being tested at the moment. I would be pleased to be proven wrong. I am unaware of everyones chart reading skills but the daily candle shows that the markets are indecisive of the price direction. But we have another couple of months to chart it.

This should cover your bearish option three and therefore will firm up on option 2. It could be a gem at the right valuation especially when you know the business has been tightened up due to the FCA investigation.

I do not use stops as I would ride a storm and top up holdings at a better price. But you must follow your own rules especially on financial discipline.

I will only enter the markets when necessary and stay in cash until that time. I do not care for the period of time to hold any derivatives as long as I can see the return long term. I use FX and index trading for short term. Again I am a risk on investor.

This can also lead onto Badgers and Melton Johns' post from the FT and MP's trying to dupe investors into buying UK stock.

It is not up to the MP's to dictate to anyone what they should and should not buy. The markets determine the price not politicians. Pension funds are weighted and therefore will always purchase the heavy weights like Apple and will not stick with a pure UK fund. It is a stupid idea.

I hold UK and US stock, commodities and FX. FX and commodities all work on price action which is indirectly and directly moved by Government and data.

[saucepan] 20/11/2023 14:31

An interesting post, Jody

However, I do think there are additional bearish options.

For example, Option 3: Jarvis issues a further profit warning (remember the adage warnings tend to come in threes) as it loses market share - either through lack of confidence in the Company and/or reduced competitive edge (USP)?

That said, I am back into Jarvis today with a re-starter position - mainly as a technical trade at this point. I am wondering if 50p or thereabouts has stopped the rot and it is encouraging to see a strong blue day - if that is indeed how price closes at the end of the day. I'll be surprised if there is the opportunity to get back in at the sub 40p levels you suggest. If so, my re-starter position will have been exited as the price will have breached my stoploss!

There is also the fundamental case you alluded to, perhaps the balance has now shifted in terms of risk/reward at current price levels?

I said I would not post again until I was back in, so have released myself from my self-imposed embargo.

[jody_lloyd] 20/11/2023 13:48

Good afternoon everyone. This is my first post and for transparency, I was a temp at Jarvis until recently. The people in the company make it special and I hope the future will be good to everyone there. I am also a stockholder alongside a number of different companies both in the UK and US.

After reading a few threads here, I am left confused and bewildered with some comments. But the past is just that and the world of finance moves on quickly.


Anyway let's take a view on the stock price.

In my opening statement, I do hold Jarvis Stock. However this is where I am confused by the comments. The valuation of shares to me seems fair, I would look to get in again below 40 as these prices give everyone good opportunities for when the FCA oversight is finished.

Option 1 Jarvis gets a clean bill of health (although a fine is obvious, but we accept this) Jarvis starts growing again and our stock starts to climb again)

Option 2 Jarvis is sold and absorbed into another broker, we receive a decent offer for our shares.

Playing the markets is a risk appetite game, at this price point, my risk appetite is high and will continue building my holdings.

I do not think anyone need to fear a share price drop, however I do agree that you must question the reasons behind the fall. But this is a gift to get in at the lows and enjoy the future.

[melton john] 20/11/2023 12:34

article free to read

[badger010776] 20/11/2023 12:23

Interesting that MPs pushing for us plebs to buy UK stocks when their own pension only invests 1.7% into UK companies..https://www.ft.com/content/93c3eae3-a1a3-4ff0-8ffe-16fe9a47ca6c

[melton john] 20/11/2023 11:53

"that contributes most to JIM's profitability!"

I would say acts as an extra income stream when markets cool and some investors sell and leave a cash balance on their account. Most will be fully invested when markets are busy and interest income will be minimal.

It's horses for courses, compare other brokers and fees for many things that aren't charged for by JIM.

This is over-reach from the FCA, not their business what broker I chose after comparing apples with oranges.

[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.