SJP says advice charges not 'major' profit driver as stock drops 2%

In its annual results for 2019 published this morning (27 February), the advice giant explained that most of the initial advice charges received are "offset by corresponding remuneration for partners". On the news of its results its share price dropped by 3% before recovering slightly to a 2.3% drop by 11am. Therefore, an "increase in these revenue streams will correspond with an increase in the associated expense and vice versa". It also said initial product charges are not on top of the profit list. This is because "they are spread out over the expected life of the investment". Rath...