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%)
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Pricing
(1.5)
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Market Access
(3)
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Customer Service
(4.5)
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Research & Analysis
(4)
Overall
3.3Related St James’s Place guides:
- St. James’s Place PLC (LON:STJ) Share Price Analysis
- Who owns St James’s Place Wealth Management
- How to switch from St James’s Place Wealth Management
- St James’s Place removes its exit fees from several key products
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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.
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