Meet The CEO: St James's Place’s Bellamy on relationship-based approach & progressive dividend

Meet The CEO: St James’s Place’s Bellamy on relationship-based approach & progressive dividend
 
In today’s Meet the CEO segment sponsored by Panmure Gordon, David Bellamy, Chief Executive of St James’s Place addresses number of questions ranging from business strategy, dramatic growth over last 10-years, Pensions freedom, dividend strategy, risk management and many more. 
 
The segment is hosted by Simon French, Chief Economist at Panmure Gordon and Barrie Cornes, Head of Research at Panmure Gordon.
 
Key points
 
The USP of St James’s Place, business strategy
Its relationship based approach, personal touch, face-to-face advice to clients based on their individual needs. Clients want personalized service
 
What helps achieve long-term growth forecasts?
Host of factors – 8 out of 10 living without pensions, low interest rates, low mortality rate
 
Criticism – Products are costly
St. James’s Place doesn’t sell products, it offers services. Survey reveals clients value the service 
 
On Pensions freedom
Has triggered shift from annuities to drawdown
 
Need for reforms
Need to have stability on the tax front, wouldn’t encourage tinkering pension legislation at this stage
 
Dividend payout strategy
Believe in progressive dividend. Expecting top line growth of 15% to 20% and that could feed into dividend growth
 
Biggest risks 
Events that have unintended consequences like – regulation changes, banking crisis, Brexit, Mifid etc.
 
View on Brexit
We are in for uncertain times for the next two years. We will look beyond short-term volatility and focus on medium to long-term horizon. 
 
Mr Bellamy will step down soon and will be succeeded by Andrew Croft, who is currently the firm’s chief financial officer. Watch the full segment to know- 
 
If Bellamy would be involved in any capacity/advisory role
Bellamy’s advise to Andrew Croft
Characteristics that can take you to great heights at St James’s Place
The people that played a pivotal role in Bellamy’s rise to the Chief Executive
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