If You Are or Have Been a St. James’s Place Client, You Could Be Owed Compensation

St. James’s Place (SJP) has recently come under scrutiny by the Financial Ombudsman (FOS) and the Financial Conduct Authority (FCA) for charging clients ongoing advice fees without delivering the promised service. As a result of this, SJP has set aside over £400 million to compensate affected customers. If you are or were an SJP client and paid ongoing advice charges, you may be owed financial compensation. 

If you have been charged an annual advice fee by SJP (typically 0.5% of your investment amount), since 31st December 2012, in return for services which include yearly reviews and ongoing support -  SJP has admitted that many clients didn’t receive the full level of service that they have paid for.  

How Compensation Amounts Are Calculated 

SJP says it will refund advice charges where it can't prove an annual review took place; This refund may cover: 

• The annual 0.5% advice fee 

• Possible additional amounts depending on how long ago the fees were paid 

However, compensation doesn’t automatically include interest or additional redress - only the fees for missed service. Even if you're unsure, SJP is reviewing its records and will contact affected clients (which can take up to two years in some cases). That said, some may prefer to have the process independently verified. 

Why Use a Regulated Claims Firm to Claim Your Compensation? 

We make sure your compensation calculation reflects what you’re truly owed, not what SJP advise. 

While you can wait for SJP to contact you directly, many clients choose to work with a claims firm like CP Financial Claims for extra support and confidence in the outcome. We will start by reviewing your case followed by putting forward a professional claim to maximise your compensation whilst handling all paperwork, updates and communication on your behalf.  

• We work for you - not the provider 

• We know how to check and challenge the amount calculated. With experience in similar cases, we can tell if an offer is below what you should receive. 

 

• We remove the stress involved for you to make your claim for compensation 

What Information Do I Need Before Contacting CP Financial Claims? 

Check if you were charged ongoing advice fees since 31st December 2012 and whether you received a proper annual review. If you're unsure, contact us for a free review of your situation. 

Don’t Wait – Get In Touch 

It only takes a few minutes for a no-obligation chat with our team – for straight-forward, clear advice. 

You are not obliged to use claims management services. You may claim for free directly to those you hold responsible, or to a statutory compensation scheme or ombudsman. 

Call 0203 287 7811 

Email hello@cpfclaims.co.uk 

Or fill in the form on this page