St. James's Place Share Discussion Threads

[dexdringle] 08/3/2024 09:00

The destruction of shareholder value here has been astonishing.

The board either didn't see all this coming. Or did see all this coming but did nothing about it. Either way it isn't good enough.

And Croft walked away two months ago having earned millions for years not doing the job properly.

[jakleeds] 08/3/2024 08:41

£3 by Xmas

[jakleeds] 08/3/2024 08:34

Alfred, dexdringle said 5% not 10%

However, these are only going one way from here. The next news will be even worse than previous news imo.

Way too much uncertainty.

[alfred neuman] 08/3/2024 00:35

jackdaw4243 - 06 Mar 2024 - 11:35:13 - 818 of 826
“… silly me another share for the bottom draw to be opened in 5 years time.”

This thicko can’t even spell the word “drawer”

You really couldn’t make it up

[alfred neuman] 08/3/2024 00:29

How are you getting a 10% return if you bought at over £10
_______

dexdringle - 07 Mar 2024 - 15:32:54 - 824 of 825

I have a significant number of these at over £10. Thinking at the time of buying "well, if they don't go back up to £17, at least I'm still getting a 50p (5%) dividend".

[dexdringle] 07/3/2024 15:32

Very wise that.

I have a significant number of these at over £10. Thinking at the time of buying "well, if they don't go back up to £17, at least I'm still getting a 50p (5%) dividend". D'ohhhh 🤦‍a94;️

[pugugly] 06/3/2024 21:46

tim3: Totally agree and likewise cancelled - However brokers notes are usually equally bad and after MIFID very difficult to obtain. Bloomberg screen shots if you can get your broker to let you have one a bit like a shotgun with a very wide range of targets. Forget most of the webcasts except to get a feel of the executives body language- shifty of possibly honest. Tip sheets on balance probably a quick route to financial loss.

So where does one find possibly valid research?

[action] 06/3/2024 21:30

Someone did say that he will buy at 400p couple of months ago . Don't know who on this board.

[tim 3] 06/3/2024 13:12

Used to subscribe to IC.

Their recs were so bad decided to dig a little deeper into the jurnos who write their articles.

Was pretty shocked by the lack of experience of many, some were not long out of education with little to no "real world" investment experience and they were telling investors who probably had way more experience what to buy and sell!

Needless to say I cancelled my subscription.

[dexdringle] 06/3/2024 11:44

Yes, it's usually a good plan to do the opposite of what IC say.

But in this instance I think they might be right. They'll bounce to nearer £6 soon so I think you'll be showing a tidy profit before you know it...

[jackdaw4243] 06/3/2024 11:35

The I C is saying all the bad news is out and suggesting that STJ is a buy so I opened a modest position yesterday. True to form I C had it wrong, silly me another share for the bottom draw to be opened in 5 years time.

[bg23] 06/3/2024 10:19

NY Boy.

I'm assuming that you have no understanding of SJP's business model or their investment offer, indeed, of the broad fund management industry at all!

Aside from the fact that SJP do not act as fund managers in their own right, asking a fund manager to ''put in'' 25-50% of their own cash per trade wouldn't allow a diversified portfolio to be constructed and rather implies you are expecting a binary result on an investment decision.

Day trading it isn't

[ny boy] 06/3/2024 10:02

It's easy to gamble other people's money, imagine if these so-called fund managers had to put in 25%-50% of their own cash per trade, they might be much more prudent, rather than reckless gamblers.

[dexdringle] 06/3/2024 09:53

"Their workforce are under stupid amounts of pressure, with all the negative publicity"

...and you know this how?

[jakleeds] 05/3/2024 22:47

They were discussed on TV ‘This Morning’ yesterday morning. Word is getting out to Joe Public.

Their workforce must be under stupid amounts of pressure, with all the negative publicity.

Their advisers were used to millionaire lifestyles, will have to start pulling kids out of private schools and downsizing.

[jakleeds] 05/3/2024 22:42

Yes Tim. One thing the markets hate is uncertainty. And there’s way, way too much of it here.

These aren’t gonna recover any time soon.

Getting expelled from the FTSE 100 on June 5th.

[tim 3] 05/3/2024 19:16

So much uncertainty can not see these being on many people's shopping list for a while yet.In my experience when a share falls like this even when they do bottom out they usually trundle along near the lows rather than recover sharply.

[muffster] 05/3/2024 19:04

Also not taking an initial charge(the exit fee) versus taking an initial charge, takes 18 years to be better off.

[dexdringle] 05/3/2024 09:10

"The investors do not see a chunk of their pot disappear on day one when they invest, even though that is what is happening. They just smooth it through the accounting"

.......so it's exactly the same but done in a different way. He's even saying that himself. Roughly speaking, instead of 3% up front you pay 0.5% per annum extra charges for the first six years (after which you can exit without withdrawal fees if you don't then like paying the level of ongoing fees thereafter). It's a non issue. Hardly anyone leaves in the first six years anyway (if they do then they shouldn't have done it in the first place).

He invests in a company then refers it to Parliament attempt to damage the company. He's not saying "if they sort this out the company will be much more valuable". Since when did activist investors buy into a company then try to damage it ? The blokes a clown.

[dexdringle] 04/3/2024 16:31

This appears to ignore the possibility of SJP clawing back a reasonable proportion of the refunds from the advisers who failed to provide the service.....

""""In an analysts’ call this morning, SJP executives were asked whether partners will be required to pay back money for advice fees where there was no ongoing service, as part of the back-book review the wealth giant announced today.

In response, SJP’s chief financial officer Craig Gentle said: ‘There will be instances as we go through this review where it’s entirely appropriate for us to make a recovery from the partnership [the advice network]. There’ll be other cases where that’s more of a challenge and I think that’s going to be a complicated path.’

CEO Mark Fitzpatrick, who took the helm in December, confirmed that SJP will be looking to recover fees from advisers where there was a failure to provide ongoing advice last year""""

There is a difference between 'failed to provide advice' and 'unable to provide evidence of advice' (poor record keeping).

[thebutler] 04/3/2024 14:10

Much much more further to fall here, especially with an impending ejection from the FTSE100. Might be interested at 350p.

[dexdringle] 04/3/2024 11:26

Even if 30% of clients have a valid claim for advice fee refunds they will mostly be lower value ones (by funds under management [FUM]) because advisers always look after their most lucrative clients. So maybe 15% of all monies managed might have a claim. And it will be 15% of historical (pre 2021) cases as measures have since been put in place to prevent non-correct servicing.

In 2020 FUM was, say, £100bn. So say 15% of that money, £15bn, has a claim for refund of 0.5% per annum. That's £75m for each claim year multiplied by, say, six years per claim = £450m....