St James Place concern

artyboy

QrizB said:

artyboy said:

Still, if your SJP salesperson is making you happy despite the huge relative charges, then obviously great for you...

I guess it's a bit like paying to fly Business Class rather than Economy.

You get more comfortable seat and a fancier meal during the journey, but end up in the same place - and rather poorer.

I think quite a lot of folks over on Flyertalk would take issue with that analogy 

dunstonh

I know that it means nothing without specific dates, investments and "timing the market" etc but I switched my SJP pension into my SIPP after over 2 years of stagnation in November last year. I put it straight into one of the HSBC Global Strategy funds and it's currently up over 7% since then in less than 3 months

Nov 2021 through to early November 2023 was a bad investing period. December and January have been very good.  

So, in this case, you cant blame SJP and say HSBC is better as its not comparing like for like.

Many many years ago, I spoke with someone that said their new pension provider was better than their old one and they were really smug that their change was the reason.     I found out that both the old and the new pension were 100% invested in a FTSE 100 tracker.    So, the returns were identical.  It was just the earlier one went through the dot.com drop and the other one went through the recovery. 

Albermarle

QrizB said:

artyboy said:

Still, if your SJP salesperson is making you happy despite the huge relative charges, then obviously great for you...

I guess it's a bit like paying to fly Business Class rather than Economy.

You get more comfortable seat and a fancier meal during the journey, but end up in the same place - and rather poorer.

Plus your steward/stewardess/advisor, offers a more personalised friendly service with a smile.

ColdIron

QrizB said:

artyboy said:

Still, if your SJP salesperson is making you happy despite the huge relative charges, then obviously great for you...

I guess it's a bit like paying to fly Business Class rather than Economy.

You get more comfortable seat and a fancier meal during the journey, but end up in the same place - and rather poorer.

If you're over 60 that lie flat bed on a 12 hour flight is worth every penny. I wouldn't pay to lie flat on my advisor for 12 hours

FIREDreamer

ColdIron said:

QrizB said:

artyboy said:

Still, if your SJP salesperson is making you happy despite the huge relative charges, then obviously great for you...

I guess it's a bit like paying to fly Business Class rather than Economy.

You get more comfortable seat and a fancier meal during the journey, but end up in the same place - and rather poorer.

If you're over 60 that lie flat bed on a 12 hour flight is worth every penny. I wouldn't pay to lie flat on my advisor for 12 hours

I guess that depends on the advisor! 😂😂😂

artyboy

Albermarle said:

QrizB said:

artyboy said:

Still, if your SJP salesperson is making you happy despite the huge relative charges, then obviously great for you...

I guess it's a bit like paying to fly Business Class rather than Economy.

You get more comfortable seat and a fancier meal during the journey, but end up in the same place - and rather poorer.

Plus your steward/stewardess/advisor, offers a more personalised friendly service with a smile.

Even that is rather hit and miss with BA... 

But yes, as others are intimating, it's all about the hard product with flying (oh stop it....). A better analogy with SJP is that you're still flying economy, but last minute so on a full price fare. You're in a middle seat, with someone reclining into you. Luckily, you have the purser popping by every half an hour with a glass of bubbly and a happy pill, telling you how wonderful it all is...

Mutton_Geoff

The planes SJP Airlines fly are old models, they fly slower and consume a lot more fuel. They cost you a lot more in money and time to reach your destination.

Occasionally they will land short of the runway whilst your friends who flew cheaper faster airlines will reach their destinations faster as their planes are not carrying tonnes of excess baggage.

I_am_a_robot

My wife was with SJP because her employer used them.  She was happy with her advisor so we both opened ISAs that were neither great or bad.

Then SJP told us our advisor had to leave due to health issues.  We then received an email from the advisor saying their health was OK.

Our total investments were not big to many people but they were our well earned money.  After the emails we had a chat about how we perceived our current investments and the future.  We then decided to move our investments and closed our ISAs.  A while later I saw the stories online about SJP, so the stories had no influence on our decision.

The lesson I learnt was that regardless of my perception of the advisor or the company it is my responsibility to check on how my money has been doing, how it could of done elsewhere and where it should be invested for my future.  I should also check out any company and how they do business before I invest through them.

cjamie

dunstonh said:

I know that it means nothing without specific dates, investments and "timing the market" etc but I switched my SJP pension into my SIPP after over 2 years of stagnation in November last year. I put it straight into one of the HSBC Global Strategy funds and it's currently up over 7% since then in less than 3 months

Nov 2021 through to early November 2023 was a bad investing period. December and January have been very good.  

So, in this case, you cant blame SJP and say HSBC is better as its not comparing like for like.

Many many years ago, I spoke with someone that said their new pension provider was better than their old one and they were really smug that their change was the reason.     I found out that both the old and the new pension were 100% invested in a FTSE 100 tracker.    So, the returns were identical.  It was just the earlier one went through the dot.com drop and the other one went through the recovery. 

I moved to Vanguard from HL In 2021, now at 45% increase.

A friend asked me in Dec 2023 about SJP as the person change an appointment from visitor to telephone on same day and blamed everything for their poor performace, 5 years 50k became 54k, in above 15 different funds.  I checked 5 years in the S&P 500 and it would have nearly been 100k in the same period

They have left SJP and gone to Vanguard for some reason ;-)

They also let me know they have recieved an small amount of automatic compenstation, they did not even know what has been in the news lately.

dunstonh

I checked 5 years in the S&P 500 and it would have nearly been 100k in the same period

Although you wouldn't invest 100% in the S&P500 in the real world.