Yesterday I published an article by Gordon Aitken that stood up for SJP after it had taken a stock-marketing beating for losing customers.
My argument has consistently been that SJP serves a place in society, they are an expense that many people do not want to pay but for many wealthy people they provide a service that is reliable and comforting. For the best part of 50 years they have done what no other financial adviser and wealth manager can do. They have become a household name among the well-off.
My opinion (and to an extend Gordon’s) have met some fierce opposition. This is not one that Suffolk Boy can stomach!
More delicately , but equally vehemently , Derek Scott expands
This is of course taking into account the capacity of smart people like Derek to be smarter than the advisers who they can now by-pass. Here is someone thinking from his own experience and he’s right, if we were as smart as Derek there would be no SJP!
Derek would like the conversation that he’s having on Linked in to be posted in one place. The best I can do is to collect sensible thoughts from social media on a pleasantly cool Sunday morning!
Derek had asked on Linked in his question that I’ve re-posted above, he followed up..
There is of course this blog, I cannot guarantee to have found all comments , but these are from Eugen Neagu
and again
Gordon replies and Eugen continues the conversation 
I am happy to publish comments that relate to the matter I have posted. I haven’t posted all that I have found as not all were relevant to the question of whether SJP is a sustainable business.
The common thread is the founders of the SJP model and the characters conducting the performance from the 1960’s copying much of The Rise of IOS and Mutual Funds
Origins: Born in Istanbul and raised in Brooklyn, Cornfeld started as a social worker before becoming a mutual fund salesman. In 1955, he moved to Europe and founded IOS in Paris, later headquartering in Geneva, Switzerland.
“People’s Capitalism”: IOS initially targeted American military personnel stationed in Europe, selling U.S. mutual funds door-to-door to bypass domestic regulations and taxes. It quickly expanded to European citizens.
Aggressive Sales Culture: He built an army of over 25,000 commission-driven salesmen, using the slogan: “Do you sincerely want to be rich?”
The “Fund of Funds”: Cornfeld pioneered the concept of a fund that invested exclusively in other mutual funds, amplifying assets under management to roughly $2.5 billion by the late 1960s.
Extravagant Lifestyle: He became a symbol of 1960s jet-set excess, owning châteaux, private jets, custom wardrobes, and high-profile properties while surrounding himself with celebrities and models.
Abbey Life, Hambro Life, Rothschild Partners and a few others drew inspiration from Cornfeld with lavish conventions and revolving door recruitment of salesmen often leaving poorer than when they joined.
The PDV of a capital unit explains where this charging cash originated from and Dereks point on legacy charging is a better clue to destiny of SJP share price. The majority of quality IFAs that were in my study groups charged 49bp in their business model to bring total charges to just under 100bp I guess this has changed since my ceasing to advise/guide in 2022
Read Cornfield’s book is worth a read as is Sir Mark Weinbergs book on mergers and takeovers