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Is that a real thing or just speculation at this point?
£280mn feels like there is a zero missing assuming they may have to start compensating partners and clients.
This failure to record evidence of ongoing advice cuts both ways and SJP is the only one to blame.
I wonder if they have a group of people watching the post office fiasco thinking we are next.
Get ready for dilution, capital raise coming, all they have is a 280m revolving credit facility left, target price 2.80. Its exit from ftse 100 won’t help.
I got out @ 414 took about £70 prof. Ill take it, didnt want to risk the sub 300p margin. GLA .
I hear you GC, whats the get out price you reckon 420/30?
That director buy was the old CEO so I wouldn't put much store in it myself...
I’m hoping the story about directors buying at £6 is old news because as bad as them losing 1/3 of the value would be if they paid 50% more than the current price now they really would have lost the plot.
Yesterday was exactly what you’d expect, at some point the shares were going under £4 depending on when and how far was really going to decide where it ended up. The early strong fall prepared the ground for a bounce, maybe a little stronger than expected, if the price had made it through to mid-afternoon without breaking through it would have fallen further when it did go.
Today is a different day £4 is no longer as much of a barrier so it’s back to anyones guess till the £3.50 support gets challenged.
I just think that there's still more bad news to come. Just my feeling. Very volatile share so definitely worth having a daily bet on it. Wouldn't hold long term, especially with the geo-political issues thrown in too. Director buys are usually red herrings in my opinion; an attempt to calm the market when clearly all is not well.
Everything feels a bit desperate here so will be interesting to see what they have to say for themselves at the end of the month. Institutions seem to be buying too so let's see who's right. Either way, plenty of money to be made trading it.
You think so Bond? Given AUM it is cheap, but I agree could take a while for the reputation to repair, although most of the mud being slung, won't stick. Still a huge company. I got in at 406. I think it'll head back close to mid 4's before the dividend. Do you think the end of month results will swing positive for STJ? Story came out today there was a director buy at £6 ps too.
There'll be a short term rise as we head towards the final dividend date and the earnings at the end of the month. Good for a trade but still uninvestable IMO. Reputation tarnished and could take years to repair it. General trajectory is still downwards. Wouldn't be surprised to see it it below £3 by the summer.
The recovery seems to be on now Sean, get in before the dividend ex date too. I think £4 is a good price, could see this going back to mid or high 4's. Could be wrong though. GLA.
Looking for 300p to get on board.
Mark, he seems to be one of those activists. Also constantly complaining about Brexit. Snooooze. Lol
Porsche 1946. what a boring old bistard you are, get a life old timer, before you run out of time.
Personally, I think this has bottomed out at £4 for the time being. Ive just bought in @406. The model is restructuring and I think this is very cheap given the funds under mgmt. Most claims will be dismissed, at that point the bad press will go away and this should go north. GL though.
This dogshxt is heading for a couple of quid a share, it’s business model is utterly terminal, same as Hargreaves Lansdown, ftse full of this crap, poorly managed dross with declining models listed on the most hated exchange ( thank brexit, massive outflows every year since 2016) in the world.
Is the Sp depreciated due to the recent press, yes. However, I don't think this is the bad news coming for SJP holders, but rather the change of model being forced onto them by the media is. The "implicit charges" people mention are early withdrawal charges (EWC), in which, if someone transfers their pension to an SJP pension they will be subject to a maximum of 6 years with an early withdrawal charge (EWC) decreasing per year 1%. At the end of the 6 years, no more EWC. This is the maximum and is dependant upon the charging structure of their existing pension which the new SJP pension will be compared against. the lower the charges the more the adviser will have to "give up" in regards to their initial fee. It is worth nothing SJP pay the advisers their initial fee, and SJP benefit from having the pension invested for a minimum period, causing SJP to make their money by an annual AMC. Total charges often do not exceed 2% on SJP pensions, if ever they do by 0.02% or something minimal. Independent firms have total expense ratio's, all things encompassed from product charges, platform fees for whichever platform they invest their clients money, to their ongoing advice charges and these are essentially on the same level as SJP charges, around the 2% mark. The difference is you do not pay the initial fee with SJP whereas with independent firms which are whole of market, you do. For example. If you have a £300,000 pension in which you wanted to transfer to SJP, the whole £300,000 would be invested and would be subject to an EWC for a maximum of 6 years depreciating 1% per year. If you are 6 years or more off accessing your pension, you do not pay an initial charge at all effectively. But, even if you are of pension age, you have an annual withdrawal allowance of 7.5%, meaning you can still draw income from your plan charge free, and if you are taking income it is rare and unsustainable to take more than 7.5% anyway. Now, with an independent firm, if you have £300,000 in your existing pension in the same scenario, 3% would be paid as an initial fee to your adviser (which is industry standard for an initial fee) leaving you £291,000 to transfer, being subject to the same 2% ongoing annual fee. Unfortunately, SJP has been forced by the media to sack off its old approach and adopt the independent route. Personally, I think this is bad for SJP, what that means for shareholders I do not know. I am sure SJP will adapt to the changes, but will it be as profitable as before, I doubt it. But, if there is a silver lining, it could still be that the SP is over depreciated. Thanks for reading all, if you have made it this far I respect your patience.
You couldnt make it up - after listening to the ambulance chasers targeting SJP on Greatest hits - I switch to rival Heart due to bad reception and there is an ad FOR SJP........
And it starts to sink again…..the apparently bombed out price does present an opportunity for M&A but it would be very high risk for the bidder (I doubt a listed company would take it on) as they would need to offer a premium to get interest from current management and BoD. A bidder is more likely when the hard work has been done and current difficulties fully quantified.
Avoid until end 2025 is my view.
Who knows oj but I am amazed at the number of people I know who use SJP and love them. “But they are very expensive and their performance is so-so” leaves them very unmoved.
My feeling is the regulator, after decades of destroying financial services companies with retrospective legislation, has finally pitched this one right. SJP can simply replace exit fees with initial charges.
Really don’t see a flood here. SJP clients are not listening to ads for ambulance chasers IMO.
I get why this is in the SJP chat, but the people shorting SJP are grown ups, making a lot of money because their belief that there is more bad news than is being shared keeps proving correct, wouldn’t it be better to tighten up corporate and regulatory reporting so the possibility of bad news waiting to come out at a future date was available to everyone and not just folk with intuition or crystal balls.
Either way, massive swings in both directions everyday. Definitely a good trading share at the moment if you can time it right.
Still bad news to come im afraid - UK wide Greatest Hits radio has continious advert from an ambulance chaser lawyer looking for people/investors with a gripe about the service......
Its risen because a news article mentioned STJ and suggested its ripe for a takeover so all the carpet baggers jump on board for a quick profit, they will stay 1 or 2 weeks and then be gone again.
Heading back to £5? Currently 2nd highest riser on FTSE100. Didn't expect such a recovery from the recent lows of 410 but market seems very forgiving right now.
Porsche what a pathetic little man you are, stop moaning and get a life .