St. James's Place Share Discussion Threads

[bg23] 15/1/2024 08:06

Ask a stupid question, you'll get lots of stupid answers!

[quepassa] 15/1/2024 07:36

It is interesting to see the plethora of results when one does a Google Search for:-

St James Place compensation claims


all imo. dyor.
qp

[dexdringle] 10/1/2024 09:55

Well, at least he has 750,000+ mostly affluent clients, a network of 4,500 qualified advisers covering the whole UK, and £150bn under management to go at. Surely he can evolve that into something special / worthwhile ?

What this really needs is to be taken over by JP Morgan Chase or HSBC or some other behemoth.

[1jat] 10/1/2024 09:08

Fitzpatrick is going to have to reshape the business….at the moment it is a high cost admin platform not delivering particularly well for customers.

It thinks it is a blue blooded Rolls-Royce when it is Rover wanting to be a BMW.

[dexdringle] 09/1/2024 22:20

In the absence of any sort of positivity, the shares here continue to languish.

SJP staff have shares (and share options) which must be miles under water at these prices. Many SJP partners also own significant numbers of shares (not least those 'earned' as zero cost options masquerading as performance bonuses).

I imagine the mood amongst both groups is sombre.

At least it's good news for the new CEO who is starting from a low base. If he gets the share price back up to £10 he'll be a hero despite that still being only 60% of the previous peak.

PS I remember the activist investor a few years ago bought in and was slating the board for the £10 share price at the time not reflecting the true value. And for paying themselves too much. I wonder what that activist is thinking now.....

[dexdringle] 17/12/2023 20:32

<<<<<< tim 3 17 Dec '23 - 14:26 - 684 of 685

Yes must admit after the initial consultation with Dad the follow ups were mainly used to try and sell him more SJP products.

The entire set up feels a bit "1980's" if that make sense >>>>>>

Agreed but we mustn't lose sight of the fact that what people want (or don't want), and what they need, are not necessarily the same thing. They want Netflix but they need life cover.

If everyone knew what they needed then there would be no need for financial advisers.

In any event, people are far more savvy these days and are far less likely to buy products that they don't need.

[dexdringle] 17/12/2023 19:38

I think there is an argument for saying that old fashioned 'advice' is no longer appropriate for the common man. And that it really is the preserve of successful businessmen the very wealthy. The ordinary folk should use cheap robo advice or, in most cases, not bother with advice and just stick their money in a savings account.

SJP should have a minimum client requirement of £1 million net worth - of which at least £250k is investable (with SJP). They need to be exclusive , but in the drive to expand, have taken on far too many low value clients.

In any event, the whole advice market is in danger of collapse under insane regulation and virtually unachievable requirements. SJP might be the great big canary in the coal mine.....

[tim 3] 17/12/2023 14:26

Yes must admit after the initial consultation with Dad the follow ups were mainly used to try and sell him more SJP products.

The entire set up feels a bit "1980's" if that make sense.

[fenners66] 17/12/2023 14:06

Does McDonalds buy back its own franchises ?
It's more obvious with a McD's the client knows its buying from them.
With an FA who sells SJP products does the client even know that they are with an FA as a "commodity" to
be bought and sold ?
Once payments are sent off to SJP via a direct debit often that is it.

I talked to an SJP client and they said they had not even been aware of whom their "advisor" was for 15 years +
Had no contact with them until they initiated it and their advisor was not the one they started with all those years ago.

It essentially was a salesman and then nothing ....
So the "franchise" model was pretty irrelevant to them

How often has this been the case ?

[fenners66] 16/12/2023 12:30

Just read the article about charging base rate +3% for loans to buy out partners.
It's a bit one sided as these loans would have been just as high or higher rates in the
past , SJP has been around a lot longer than low interest rates.

So really its not the interest rate on the loan that is the problem but the price charged.

I guess that for some will be them trying to recover the amounts they paid whilst interest
rates were so low. Commodities over priced because of low borrowing costs.

SJP should not be raising funds to help out here - they invest in markets and surely see
the benefit of market forces at work.

Their members "franchises?" should just sell at the new lower market rate and tough it
out. Tough luck your investments CAN go down as well as up - as they are fond of telling
retail investors.

Problem is these "advisors" have got used to the life of the one way bet. Commission if
your investments go up , commission if they go down.

The true question though - is do they need these independent or tied advisors at all ?
There is the internet now - just make your product compelling and let people come to
you. Any truely independent advisor can send people too and still get commission.

[dexdringle] 15/12/2023 15:06

....well I think that's a bit pessimistic. But the price here (at £12 +) was supported by the actual profits and the expectation of greater future profit. And the latter has taken a bashing.

It's anyone's guess what a fair price is. It'll be somewhere between £6 and £12.

[chutes01] 15/12/2023 14:30

looks all over here for shareholders

[action] 15/12/2023 13:55

I should avoid this to buy even 8f it drops to years low. Need more clarity from BOD.

[action] 15/12/2023 13:44

Next target 614p

[tim 3] 15/12/2023 10:54

Thanks for your kind words.

A bit of luck involved timing wise but felt really confident about the buy at the time.

Will continue to hold as it has a decent yield locked in and I think there is still potential for further capital gain if interest rates drop as seems likely now particularly stateside after the feds words the other day.

Cheers.

[action] 15/12/2023 10:46

Not looking good as existing partners do not want to takeover books from retiring partners

[action] 15/12/2023 10:44

St James's Place to raise up to one billion pounds tp buy out partner firm as per ft

[dexdringle] 15/12/2023 10:33

The strangest thing is that they were around 1700p each just 18 months ago.

[action] 15/12/2023 09:31

Strange again below 700p instead if 750p

[quepassa] 14/12/2023 11:37

Hear hear!

Stunning trade and perfect timing.

Well done, Tim.

[action] 14/12/2023 10:26

Well done Tim with your treasury purchased at 87p. Now 100p

[action] 14/12/2023 10:25

750p 1st stop. Next 800p plus