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I am sure the “partners” have been flexible and have been meeting clients on video and using electronic signatures so they can still bring in the money and furlough their back office to save some costs.
Plus delays on withdrawals and transfers will be inevitable.
fee income is driven by AUM so the market recovery will be a major plus for STJ.
One thing to consider, currently no fee is charged to SJP clients if they do not proceed with the transfer. There are stringent internal checks in place with SJP pension buisness with third party companies used to independently assess the safeguard benefits. As a result, many transfers do not proceed. The process is therefore fairly robust, not sure it will have a huge impact and should limit any future claims
I’d be more concerned with future inflows as a lot of the reported inflows will be relating to business written in early 20 before the lock down really hit home
When is an exit charge not an exit charge?
When SJP call it an early investment withdrawal charge.....
I don’t know how they have got away with this for so long.
Also, the FCA 'expects firms to look at their past business and pay redress and where appropriate'. If SJP's past pension transfer business is deemed to be unsuitable it will be facing a hefty redress bill....
Surprised to see these up today - FCA has confirmed that it will be banning contingent charging on DB pension transfers from October 2020. SJP advisers are currently able to charge huge fees for pension transfer business and now they will have to charge upfront and justify these fees, or more likely reduce them. FCA decision on exit fees to come later this year. The tide is turning.
Very good update today, good progress being made. I just wish their was more discussion on this Board
Good to see a strong move on the shares today
Hoping the Fed injection will settle investor nerves. Nice steady gain today. Maybe less less risk to current divi. 30.22 nice
Increased divi and still plenty of upside to pre CV19 SP. What is not to like here. There is a constant flow of retiring public sector workers and emergency service workers retiring, and STJ associate Advisors are given pretty much exclusive access to 999 service pre- retirement courses. A lot of senior and middle management positions invest on the back this on retirement so there is a constant flow of lump sum investors for the foreseeable.
Reasonable level currently but GE and Dow May affect it
Goldman downgrade hit sp today - neutral stance here imv.
Very quiet board so just a quick post
Good to see positive broker comment and shares pull themselves off the deck having been £9 not so long ago
Upside feels uncertain but I’m holding for the longer term and would consider adding to my holding if they fell back into the £9.50-£10.00 range but as always not a recommendation and always DYOR
Indeed
SP now off on back of DJI correction
Thinking a buying op but don’t like effect of all this Brexit nonsense on the market
Good to see the shares back up near £10 but no clear idea how things will go long term as I’ve seen criticism of the STJ charging model and the recent profit downturn seems to have dropped the shares into a lower range but I’m a long term holder so will read the comments carry on taking the dividend and hope for capital appreciation
Don’t know why so quiet but just found this board as active on another share chat on LSE
5+% move today will scour press tomorrow for a reason but shares crashed after poor first half and so could be dead cat bounce or value buying at this level or maybe relief no deal might be less likely??
This is a quiet board, given the goings on for the last 3 months!
lets hope market likes it
Ex-Dividend today
Any idea why ?
Hold for target price of 1059. Based on falling markets and slowdown in inflows. 4th quarter results out end of January on same day as annual conference. Should be interesting.
You never know with shares theses days. Take a little profit when you can I say. Top slice @ 10.58 will do for me today.
Never in doubt....my instincts proved right after all.
Maybe I was right after all last week when saying buy at 989p. However should have kept my cool and bought in lower.
However, back to 986p in early afternoon trading.
MacTaffy
Thanks for your insight yesterday. Looks like I have called it all wrong as it is still falling today.