lc
SJP- the sinking ship?
St. James’s Place shares are down 72% on the year!!!
Is this a buying opportunity?
Is all the bad news factored in?
I'm not sure....
The main reason for the depreciation in their value is because of their fee schedule.
Why it took people so long to realise what they were charging- I'll never know...
However, most of the fees still stand...
Let me break them down:
Initial advice fee- 4.5%
Initial product charge- 1.5%
And that's not all:
Annual product management fee - 1%
Ongoing advice- 0.5%........
Writing them down like that almost makes it hard to believe...
However, most of the scandal this year was about the 5% exit fees!!!
So I would say that although changes are being made on the latter (slowly) a lot more needs done..
Value after a 72% retracement?
Sorry guys- not for me....
