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St James's Place Wealth Management Review
Name: St James’s Place
Description: St. James’s Place is one of the largest LSE-listed wealth managers with over £150bn in client funds. SJP offer wealth management for high-net-worth individuals with a minimum of £250,000 to invest (or £50k for savings deposits).
Is St James's Place a good wealth manager?
SJP is getting better as they move away from locking clients in with high exit charges, but they still only offer a selection of restricted funds. Plus they charge a whopping 4.5% of your initial investment, plus an annual charge of 0.5%, then an additional charge of 1.5% which does reduce to 0.85% after 10 years.
Being charged, 0.5% a year is actually relatively competitive (Wealthify for example charges 0.6%), but in my view, the 4.5% initial fee makes St James’s Place uninvestable.
Pros
- FTSE 100 Listed Company
- 0.5% Annual Fee
- Broad Range of Services
Cons
- Restricted Fund Selection
- High 4.5% Initial Fee
- High ongoing funds fees (1.6% to 1.9%)
-
Pricing
(1.5)
-
Market Access
(3)
-
Customer Service
(4.5)
-
Research & Analysis
(4)
Overall
3.3
SJP’s tiered charges for initial advice revealed by Citywire
St James’s Place (SJP) is set to introduce three new tiers of charges for financial advice, as it moves away from its current fee model. A presentation by the advice group showed the new plans being put forward for SJP’s tiered charges to bill clients based on the size of their pot, Citywire reported on
St James’s Place value assessment report finds it could do (a lot) better
St James’s Place, one of Britain’s largest wealth management groups, has released its annual value assessment report. The results of which have raised eyebrows, and questions, about the value that the firm provides to investors. St James’s Place has admitted to failing to offer value for money in 36 out of 45 of its funds.
St James’s Place in Turmoil: Shocking Losses & Share Plunge Explained
Troubled wealth manager St James’s Place reported its final results, for the year ending December 2023 this morning, and numbers have shocked the city. Terrible Results The company posted a net loss of -£9.90 million compared to 2022s £407.20 million profit. The annual loss is due to a £426.0 million provision, against what the firm
How to switch from St James’s Place Wealth Management
This week’s news that the UK’s largest wealth manager St. James’s Place, was removing exit fees from its range of pensions and investment bonds raises the possibility of clients being able to switch wealth managers without penalty if they are unhappy with the service and performance they are currently receiving. Switching from St James’s Place
Who owns St James’s Place Wealth Management?
St James’s Place is a public company listed on the London Stock Exchange, which trades under the ticker of SJP. The company has a market cap of £3.73 billion, a PE ratio of just over 10.0 times earnings, and a prospective dividend yield of 7.79%. But who owns shares in one of the largest wealth
St James’s Place removes its exit fees from several key products
St James’s Place will remove the exit charges from several of its key products going forward, following pressure from the regulators and the new consumer duty initiative. St James’s Place removes exit fees Wealth manager St James’s Place or SJP as it is often referred to, has announced an overhaul of its fee structure, including
Richard is the founder of the Good Money Guide (formerly Good Broker Guide), one of the original investment comparison sites established in 2015. With a career spanning two decades as a broker, he brings extensive expertise and knowledge to the financial landscape.
Having worked as a broker at Investors Intelligence and a multi-asset derivatives broker at MF Global (Man Financial), Richard has acquired substantial experience in the industry. His career began as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson), following internships on the NYMEX oil trading floor in New York and London IPE in 2001 and 2000.
Richard’s contributions and expertise have been recognized by respected publications such as The Sunday Times, BusinessInsider, Yahoo Finance, BusinessNews.org.uk, Master Investor, Wealth Briefing, iNews, and The FT, among many others.
Under Richard’s leadership, the Good Money Guide has evolved into a valuable destination for comprehensive information and expert guidance, specialising in trading, investment, and currency exchange. His commitment to delivering high-quality insights has solidified the Good Money Guide’s standing as a well-respected resource for both customers and industry colleagues.
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