St. James's Place

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Have You Lost Money After Receiving Advice From St. James’s Place?

Background:

Recent financial press, (see our linked articles below), has highlighted the high charges and lower performance of some SJP funds and St James’ Place (SJP) does not give independent advice.

X-Claims has a proven track record in successfully winning maximum compensation for their clients and work on a no win no-fee basis with no up-front fees. You can only make a claim once, so using a professionally qualified regulated firm can be invaluable. If you are unhappy in any way and are dissatisfied with SJP then please get in touch with us.

We have highlighted here some important points, if any apply to you, it is very likely that you have grounds for a claim:

✓ Their commission-based advisers may not have given you the best advice.

✓ You were advised to invest in a Bond. Bonds may not be the best advice (SJP may have earned higher commission for a Bond investment compared to alternative products which also may have a more suitable tax treatment).

✓ You were advised to switch your pension. Pension switches usually increase your costs.

✓ You were advised to Consolidate your pensions. Consolidation is rarely good advice but earns commission which is deducted from your pension.

✓ You were advised to stop one policy and start another. The true cost of this may be substantial and should have been disclosed in writing.

✓ Their advice caused an unexpected tax bill. This is more common than you think and may be a postponed tax bill that has not yet arrived.

Which Article - Misleading Customers of Charges
https://www.which.co.uk/news/2017/07/exclusive-wealth-manager-st-jamess-place-misleading-customers-on-charges/
Professional Advisor Article SJP Complaints Dwarf Other Large Advice Firms
https://www.professionaladviser.com/news/4012586/sjp-complaints-figures-dwarf-advice-firms
International Investment Article - SJP Refused to Compensate
https://www.internationalinvestment.net/news/4015117/st-james-refused-compensate-couple-mis-sold-life-policy
Money Marketing Article - SJP Top of Complaints Life
https://www.moneymarketing.co.uk/news/sjp-and-sesame-top-fos-complaints-list/

You do not need to use a claims management company to make a claim

You can do this yourself for free, and if your claim is unsuccessful you can pursue it yourself with the Financial Ombudsman Service.
If your product provider or your financial advisor is no longer in business, you may be able to use the Financial Services Compensation Scheme (subject to their Rules).

X-Claims Limited is authorised and regulated by the Financial Conduct Authority – FRN: 829746

“The service form X-Claims was excellent from the word go. Very friendly and helpful with explanations and advice at all times – an efficient service throughout. Thank you!”
Dr M Jun 2021

Doctor, Successful Claim

“I would not have attempted to make a claim without their help. Recommended by a colleague. I received substantial compensation. X-Claims were efficient and dogged in negotiating the bureaucracy. Strongly recommend them.”
Dr K – Feb 2021

Doctor, Successful Claim

“Despite what was clearly a complex case, involving mis-selling of FSAVC nearly 30 years ago, and an initial rejection of the claim by the company concerned, X-Claims refused to give up and ended up having to go via the ombudsman in order to resolve the matter. Although the whole process took over 2 years, none of the delays were with X-Claims, but all with the investment company and ombudsman. All emails were responded to promptly and all explanations and requests for information clear. So the expenditure of time on my part, in order to reach the required conclusion, was very modest. Furthermore, when it was clear that the compensation, in terms of the amount finally agreed to top up my AVC pot, would have landed me with a huge tax bill because of incurring annual allowance taxes, they negotiated a reasonable cash payout within a matter of days.”
Dr N – Nov 2020

Doctor, Successful Claim