St James’s Place
We investigate ongoing advice fee complaints involving St James’s Place where agreed reviews, advice or support may not have been delivered as expected.
St James’s Place
St James’s Place Ongoing Advice Fee Complaints
Did you pay ongoing advice fees to St James’s Place?
Pacific Legal investigates concerns where ongoing adviser charges were deducted but the service agreed with the client may not have been delivered.
The service can vary between clients and advisers, so each complaint depends on what was promised, the fees paid and the evidence of reviews, advice and support actually provided.
A missed review or limited contact does not automatically mean that a fee was unfair. We assess each case on its own facts before advising whether further investigation may be appropriate.
Frequently Asked Questions
Can I pursue a compensation claim myself?
Yes it is possible to pursue a claim against SJP on your own without any cost and with recourse to the Financial Ombudsman Service. However, we find that many people choose to use Pacific Legal because of our considerable experience and expertise in handling such cases. Our ability to navigate the complexities of such claims can provide you with invaluable guidance and peace of mind that you will receive all the compensation that you are rightfully due.
How long does it take if my claim is successful?
On average claims are currently taking between 20-26 weeks if successful.
How do I know if the ongoing advice fees I paid to St. James’s Place were unlawful or unjustified?
Many SJP clients paid significant ongoing advice fees without receiving the required annual suitability reviews. If you were charged ongoing advice fees but did not receive a yearly review, risk assessment update, or personalised investment advice, your fees may have been taken without proper justification.
What specific issues have SJP acknowledged or been found responsible for?
SJP has publicly recognised issues around the delivery of ongoing advice and has already set aside funds to address failings. Many clients report missing annual reviews, infrequent adviser contact, or unclear service agreements.
Do I qualify to claim even if I received some advice?
Yes. Even if you had occasional contact, SJP needed to deliver a full annual review to justify the fees. Partial or informal discussions often do not meet FCA requirements.
Can I claim if I’ve already left SJP or transferred my investments?
Yes. Your eligibility is based on whether you paid for advice that wasn’t delivered, not whether you’re still a client.
What documents do I need?
Investment statements, fee breakdowns, and any email correspondence help, but they’re not essential. Pacific Legal can request evidence directly or reconstruct your fee history.
What if I don’t have my SJP paperwork?
No issue. We routinely act for clients with minimal documentation. We can obtain information from SJP or recreate the advice timeline from other sources.
How much compensation do SJP clients typically receive?
Amounts vary, but claims commonly range from hundreds to several thousands of pounds, depending on years of charges and the size of the portfolio.
How is compensation calculated?
It reflects the advice fees you paid during periods where SJP did not deliver the required service, plus interest.
Does SJP usually fight these complaints?
SJP investigates each case individually, but many well-supported complaints are upheld or resolved without escalation.
What happens if SJP rejects my complaint?
If we feel like there is a case to be answered, we escalate to the Financial Ombudsman Service (FOS), where many cases are overturned based on regulatory guidance.
Will this affect my ongoing relationship with SJP?
It should not. Ultimately, as a client, you haven't received the service you should have done and any compensation would be evidence of that.
Will SJP know Pacific Legal is acting for me?
Yes, but this simply means they communicate with us directly on your behalf.
How much do you charge?
We charge 40% Plus VAT, but only if successful.
Do you sometimes get more compensation than what SJP initially offers?
Yes we do, very often. We are specialists in understanding exactly what a client should be receiving and will ensure every single offer we receive is scrutinised and challenged if neccesary.