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A bit of negativity in the press today about STJ gating one of their property funds, it is looking like a return to 500’s is on the cards. They don’t seem to be catching a breath.
Bargain or bucket ? Sell off overdone IMO so bought more this Morning. New fees structure not due until 2025 and plenty of time to adjust. Hold for Me as price will recover soon.
Jesus these are getting destroyed even worse than the rest of the stuff on the dog index of the world ftse 100.
The Times and the Telegraph commentary isn't too good today. Nothing positive about the SP I'm afraid. Looking like a poor week
Nice little cheeky Director purchase, never does any harm.
Today's RNS clarified the on-going issue which has been a regular subject that media has continuously triggered in the past few months. This was a big distraction for the company - They have pushed this to 2025 for a reason, I suppose as this will have financial implications. This gives the company time to find alternative options to fill that gap! all in all happy with today's update. This should be back in 825-850 mark soon.
They have addressed the issues as per RNS and agree that this is either accepted or not. if not, then all Companies like STJ would have to agree the same terms basically which would decimate a lot of companies regarding profits. I personally believe that most of the proposals will be accepted. Needs an RNS to confirm. Took some profits anyway and will be looking to buy more after updates. Lets see how the big shareholders react.
They haven’t addressed the issues with this morning’s announcement it’s just a matter of time before they are hit again. The competence and honesty of the management will start biting soon they can’t keep making baby steps to see what they can get away with.
Well, that`s the dreadful news released. Just need the profit takers to cash in now and see where it goes from there. Not really sure what a fair value is but it has to be a bit more than where it is now.
Quiet on here?
It must be a blue day!
One will never know, but all the FT did was repeat what had been published already by others some time ago. More fund buying RNS would be welcome though.
Maybe someone is being a bit naughty & running a naked short.
Obviously the F.T. article has done the damage even though STJ have been working on fee changes for Months now. It`s not even latest news they published but is still regarded as the bible of the financial world. Happy to have bought in at these levels.
My thoughts exactly, the RNS at 7am stated nothing that was not known. They then went shopping on the same day and picked up over 1.3 Million shares at a discounted price. Who was selling? Nervous PI’s? We will soon find out, I bought in on the afternoon RNS and will be surprised if it drops any further.
So you base your experience with one adviser on the whole company. Get a grip.
Sjp has £153 billion under management. I agree the ewc's will have to go but that will be replaced by an initial charge on all business.
Clients need advice and they don't get it from the Banks. SJP will be for a long time to come.
Clever that.
If you was cynical you could end up thinking they got some media mate's to put this news back out which was already known about to spook the market & dived in to pick another 1.3% of the company at a bargain price !!
I am sure that's not the case though :-)
Owe I understand Bert ashtree. I have several friends involved in the operation.
Way too early if I may say so, these outfits are very dependent on the confidence of savers.
Dealt with two slimy weasels from this outfit, the first did ok but did something very oily when I attempted an advisor change due relocation. SJP advisor #2 was so greasy that I only met the stoat twice before abandoning the mess. Never been happier managing my own pensions.
I've seen some salesmanship in my time but SJP really take the biscuit.
Might be time to start working about BLS Capital, how much exposure do they need?
Was over £17 at the start of 2022
Possible feline leap but I think this is going to drop even further ...greed got the better of them for years ....game over time now ....interesting to see if they can preserve the name .....
There is an arrogance among the SJP “partners” that they are the best and earn the most.
There is a reason for that…..and that is not providing value for money (some will, but many have been raking in the fees as money for old rope.
It is going to be a painful adjustment….for many,,and all those who have copied their business model (which happens because they are apparently successful)…
I am sure there will be a dead cat bounce early next week, but the question marks will remain as the new CEO will kitchen sink all the issues…expect a horror set of results next time
You only need to get hold of a product illustration where fees are waived to see ongoing product charges of 0.4%, if that is what the FCA has seen, SJP is overcharging 0.6% on a standard pension and the correction in fees is much more than profits based on current expenses. They will have to cut back on all the largess paid for with excess charges to survive but if the past 4 months have showed us anything SJP isn’t proactive enough to steady the ship.
Jumped in here today, looks well overdone to me. It looked good value at 900p back in the summer.