Jarvis Securities Share Discussion Threads

[wasteof] 24/4/2024 09:54

8.4p - over 20% return at current price.

W

[melton john] 24/4/2024 08:34

I don't see why not. Business has picked up since the last one and according to Stockopedia the house broker is forecasting 11.4p eps and 8.4p dividend for the year.

[sbb1x] 24/4/2024 07:47

Do we expect a dividend to be announced in May ?

[melton john] 24/4/2024 07:24

" The finance director left the position but still kept his seat on the board "Morning tenapen, can you explain what you mean here " kept his seat on the board" . Where does it say that?

[thrugelmir] 23/4/2024 20:58

@Saucepan The FCA is targetting consumer activity not commercial. Likewise JIM will earn interest on pending settlement cash balances. Where the cash has been removed from the clients account.
With SIPPS it's been possible to hold cash on deposit with the SIPP provider. Rather than leave a balance idly doing nothing in the trading account. No benefit to JIM as a consequence.

[saucepan] 23/4/2024 20:42

"the interest rate is still favourable to the business model and will remain so for longer than most anticipated."

An interesting comment.

I thought one of the main points of the FCA investigation generally (i.e. not targeted only at JIM) was that it does not like the idea of companies in the sector creaming off interest on client cash. Surely, this key plank of the JIM business model is not going to be sustainable?

[ih_818120] 23/4/2024 20:21

Kinda hard to believe that you lot think it's scare mongering to call out bad management when the share price went from c£3 to 60p . The finance director left the position but still kept his seat on the board and the CEO is stepping away from the job. Facts is facts.

Stiff upper lip guys

[thrugelmir] 23/4/2024 15:30

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

[melton john] 23/4/2024 09:07

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 07:48

Thank you QG.

[qg holdings] 23/4/2024 07:35

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 16:00

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

[tenapen] 19/4/2024 15:54

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

[thrugelmir] 19/4/2024 15:50

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

[tenapen] 19/4/2024 15:01

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 08:16

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 14:54

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 07:42

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 15:38

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 08:34

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 08:16

> 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 10:15

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

[saucepan] 10/4/2024 06:02

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.