St. James's Place Share Discussion Threads

[pander45] 13/10/2023 19:55

Possibly a touch lower in reality. Right in the doldrums this one.

[freedomexpress747] 13/10/2023 19:48

Huge charges, model only works when global funds perform... an embarrassment to the industry. Even worse, clients often not given regular reviews... this is partly why they are being investigated and compensation issues. Sharp suited, should know better sales people... See what the Ombudsman makes of high up front fees and barriers to leaving...

[action] 13/10/2023 19:14

Need to wait for 2 weeks ie 12% drop in each week. LOL.

[dexdringle] 13/10/2023 17:56

1jat. FFS. SJP funds are also single price. The only products on which they have an exit charge are the ones where there are no up front fees. None. It is 6% year 1, 5% year 2 etc. Clients like it better than paying up front.

Think about a night club. £5 to get in OR free to get in but £10 if you leave in the first 20 minutes, £8 if you leave between 20 and 40 minutes, £6 if you leave between 40 minutes and an hour etc etc. If you are planning to stay more than an hour and 40 minutes then you are in clover and it cost you nothing to get in and you can leave after that with no charge. If you aren't planning to stay that long then don't go in at all.

That's all it is !!!

[vulgaris] 13/10/2023 17:56

Dexdringle. I'm sure they don't *aim* at mediocre performance. The issue is whether, for high fees and exit charges, they achieve better than mediocre. I always like to look at fees as a percentage of anticipated return. 1% fees and 5% expected return is like another slab of basic rate tax. That's quite a hurdle to jump.

[1jat] 13/10/2023 17:49

Dexdringle….many funds are single priced these days or advisors opt for ETFs
Days of 5% bid offer spreads are archaic in the same way as early withdrawal fees are.
Exit charges are capped at 1% on pensions, how SJP thinks it can bypass those rules by calling its charge something else is astonishing…..if it looks like a duck and quacks like a duck it is a duck…..unless of course it identifies as a goose.

[belgraviaboy] 13/10/2023 17:29

6% exit fees for new customers......6%.......

[andrewhbruce] 13/10/2023 17:25

No tears here.

[blueball] 13/10/2023 15:53

Looking to buy@400p.

[dexdringle] 13/10/2023 15:45

""""Vulgaris 13 Oct '23 - 15:36 - 492 of 493

Best to avoid companies whose whole business model is predicated on overcharging for mediocre investment performance""""

I don't think they actually aim for mediocre investment performance. I'm sure they aspire to better.

The value of advice isn't in the fund performance which is largely luck. It's in the structure of the underlying investment vehicles and the tax efficiency. This is really what SJP clients are paying for and this is why 'advice' and 'investing' should ideally be assessed individually.

[dexdringle] 13/10/2023 15:40

"""""" montyhedge 13 Oct '23 - 15:09 - 490 of 491

I know a friend of mine wanting to leave STJ because of the fees, I don’t know anything about the company are they high then""""

They are around 2% per annum (which is 1% product fee, 0.5% ongoing advice fee and 0.5% investment fund AMC's). If your friend can get better service, better advice, better fund performance and better guarantees significant cheaper elsewhere then he should move. What's stopping him ?

[vulgaris] 13/10/2023 15:36

Best to avoid companies whose whole business model is predicated on overcharging for mediocre investment performance.

[london07] 13/10/2023 15:23

Nearly £1b wiped of the market cap

On basically not much

Insane markets

This should be straight back up before you know it

Its a FTSE 100 company 🤯

[montyhedge] 13/10/2023 15:09

I know a friend of mine wanting to leave STJ because of the fees, I don't know anything about the company are they high then.

[dexdringle] 13/10/2023 14:38

Down over 20% now in one day !

Lets hope that, when the stock market crash does come, SJP will be excused as having already done its own DIY one in advance.

[dexdringle] 13/10/2023 13:46

I can see a dividend cut coming.

This is going to be a real test for the new CEO. He's off to a very bad start in respect of shareholder value...

[dexdringle] 13/10/2023 13:45

Yes, and when they talk about ceasing early exit fees (as per the citywire article today - see below) they surely mean for new business.

These exit fees are because SJP don't charge (or deduct) an explicit initial fee on those products. Instead, they make a reduction (exit fee) in a sliding scale for the first six years for those clients who don't stick around. Fair enough. Most people are happier with that than paying an upfront fee. So SJP will simply charge an upfront initial fee going forward just like everybody else. Six of one vs half a dozen of the other.

They won't simply waive the exit fees for the people still under six years who never paid an entrance fee. That would be ridiculous.

hxxps://citywire.com/funds-insider/news/st-james-s-place-shares-plunge-as-fca-pressure-over-exit-fees-mounts/a2428019

[pander45] 13/10/2023 13:38

People jumping ship whatever it is!

[pander45] 13/10/2023 13:37

Looks more to it.....warning coming?

[robertball] 13/10/2023 13:28

Well yes...

[action] 13/10/2023 13:25

They are improving fee charging structure for future business. But reaction 20% down..

[pander45] 13/10/2023 13:23

Big problem here. Capitulation.

[action] 13/10/2023 13:22

This goes down 12% as a starter and drift down again week following by another 12% LOL.