St. James's Place Share Discussion Threads

[quepassa] 21/1/2020 08:14

Stellar results yesterday from the new kids on the block, AFH Wealth Management (ticker AFHP). For sector followers, the AFHP CEO and Chairman statements make fascinating reading. Their six year track record since joining AIM in terms of revenue growth, reliable shareholder dividend increases and enormous surges in FUM is truly astonishing. AFHP point the way perhaps for the future of mass affluent wealth management in the UK with their low-cost fee model and increasing product digitisation, whilst still honoring the need for a personal approach. Some brokers like Liberum still see c 40% near-term UPSIDE to the current AFHP share price. hXXps://www.afhwm.co.uk/ hXXps://www.afhwm.co.uk/investor-relations/ ALL IMO. DYOR. QP

[quepassa] 13/1/2020 09:27

Credit Suisse issue broker note today and DOWNGRADE to UNDERPERFORM and REDUCE Target Price (from 940p) to 900p

[dexdringle] 08/1/2020 08:52

Blimey, that's a bit sporty. I'll be out as soon as they go above £12 again (assuming they do)…..

[quepassa] 07/1/2020 08:31

Today. JPM Caz issue broker note and REITERATE OVERWEIGHT recommendation with INCREASE/UPGRADE in PRICE TARGET (from 1179p) to 1260p

[dexdringle] 29/11/2019 12:08

yes, that's bound to have some sort of effect. Mind you, I can't remember the last time a broker called something right. I have shares in Condor Gold (don't ask). Last year when they were 44p a broker (NUMIS) issued a ‘buy’ note with a price target £1.30. I was holding from 60p and sitting on a 25% loss at that point so I thought 'great'. Condor Gold are now 19p a share…… Re SJP I think we are more likely to see £10 again here than £12. But I think we will see £11 again in the meantime. I also expect a big announcement in early 2020 about a re-positioning of the business, a change to the charging structure (and to the contracts with the franchise advisers) and a free kitten with every policy sold. Okay, maybe not the kitten part.

[quepassa] 29/11/2019 09:58

goldman sachs broker note today. the likely reason for the fall after a great run?

[dexdringle] 28/11/2019 09:05

Don't worry - normally when I call something it does the opposite ! The law of averages says I'll get the odd one right. Not sure where it will go from here. I have a feeling that down again might be more likely than up (ignoring a Brexit bounce effect if the Tories get a majority)

[quepassa] 28/11/2019 08:30

dex, well done, you won the wager. good call.it reached £11 first. cheers. qp

[growthpotential] 27/11/2019 22:57

All aboard this rocket ship!

[quepassa] 01/11/2019 10:43

Blackrock selling yesterday. From 5% to 4.7%. Let's see if they make further disposals. ALL IMO. DYOR. QP

[quepassa] 30/10/2019 12:16

wealthy people are very interested in the performance of their investments. it's the great unwashed middle-market who hitherto have blithely followed the advice of wealth managers but they are wising up to the fact that they can invest their money into unit trusts and investment trusts themselves without having to pay an intermediary to do it for them. i think you have hit the nail on the head when you write "I suspect SJP will start to gradually reduce charges" but it won't be because they have the margin to do so, it will be because of market forces with other wealth managers lowering charges, as well as many unit trusts doing likewise. And many wealth managers/money-managers are FORCED to do it because of:- 1. Increased regulatory scrutiny on charges 2. The arrival of lower-cost wealth managers 3. The increasing traction of DIY platforms 4. The ever-increasing universe of low-cost ETF's By reducing fees, this will of course directly negatively impact their bottom line. The high-fee wealth management charging structure is busted. ALL IMO. DYOR. QP

[dexdringle] 30/10/2019 11:56

SJP clients are mostly fairly wealthy and happy to leave it to their adviser, with whom they have a close relationship (and who is always available to them), and they are happy to pay a higher fee for that. And to have no worries or responsibilities. They are not interest in self selecting investments / portfolios etc. Nor in taking the kind of risks that result in investment performance that "shoots the lights out". Yes, the kind of people with limited funds who wish, and have the confidence, to DIY the whole thing (and take the responsibility themselves) may save 1% per annum in fees or more. Which is fine. They are not the sort of people who use SJP in the first place. It isn't about one model being right and the other wrong. Nor about one model killing off the other. It's horses for courses... In any event, now that they have massive traction with £112bn under management, I suspect SJP will start to gradually reduce charges simply because they have the margin now to do so. Am happy to remain invested with a £12 a share target in 2020......

[quepassa] 28/10/2019 09:52

many investors are growing increasingly disenchanted with the high-fees charged by various different wealth management services and inflows into self-managed diy platforms have been exceptionally buoyant of late, likely as a direct result of this. you see, do you really need to pay any adviser 1-2% per annum to advise you to put money into a Woodford fund for example? - you might as well just buy Money Observer yourself and chose your own funds - saving a lot of money along the way.... the wealth management high-fee model is busted. all imo. dyor. qp

[dexdringle] 28/10/2019 09:47

"Others, just as serious have been AiM listeds and smaller I think" Eh ?

[dexdringle] 23/10/2019 14:20

Hmmmm. Not good viewing. Active fund managers need to have a long hard look at themselves. Passive is way cheaper and often better. Until the balance on the Passive side becomes too great at which point that 'follow the herd' mentality will be detrimental and Actives will run rings around them. Interesting times ahead in the whole Wealth Management sector. In money generally (including banking).

[quepassa] 23/10/2019 13:43

Interesting recent Panorama programme on fund managers. Woodford and others.

[dexdringle] 23/10/2019 13:12

Ready now for the next leg up to £10.70...…..

[dexdringle] 22/10/2019 11:56

Yes, there are all sorts of DIY investment platforms and SIPPs etc out there. And then there are all sorts of stories about failed investments, IFA's going bust / AWOL, IFA's having no PI cover, fraud cases, people making shocking personal judgements etc. What could possibly go wrong..... People might not like the SJP model. They may think it is too expensive. They may think the funds don't perform up with the best. All of these things may be true. Such people can, well, go and do something else somewhere else. But, whatever you might think, SJP clients are protected against most of the disasters that can happen and have significant comeback against SJP if they are subjected, by an SJP Adviser, to something not right. For some (most ?) people it is the return OF their money that matters more these days than the return ON their money.

[its the oxman] 22/10/2019 08:17

Seems to me stj do a pretty good job for their clients, ensuring relatively well managed decent returns, despite their charges ,with reassuring client contact and advice. A big grey population out there who perhaps recognise the value in not always going going for the cheapest option.

[dexdringle] 15/10/2019 20:14

Just to be clear, while I'm happy with my experience as an SJP client, my interest here is purely around the short term performance of their shares. I have no interest in whether their long term business model / charging structure is sustainable or not. Ditto AFH where I have a (larger) holding.

[dexdringle] 15/10/2019 14:33

Great ! If they go to £11 first I win. If they go to £9 first you win.

[quepassa] 15/10/2019 04:20

Well, let's see. The share price is near-as-dammit a tenner today. The marker is down and let's check back .

[dexdringle] 14/10/2019 18:47

....only if he wants to lose money....

[quepassa] 14/10/2019 18:08

a short, presumably!