What Are Ongoing Advice Fees?

Ongoing advice fees are regular charges levied by financial advisors for providing continued guidance and portfolio management.

These fees are typically calculated as a percentage of your investments and are meant to cover services such as periodic reviews, market updates, and financial planning. While these fees can be justified for active, value-adding advice, many clients of St. James’s Place (SJP) have raised concerns about whether they receive adequate service for the charges incurred.

Why Claim?

If you’ve been paying ongoing advice fees to SJP but feel that the services provided have fallen short of expectations, you may be entitled to claim. Common grievances include:

• Lack of proactive advice or personalized financial planning.
• Failure to adjust portfolios in response to market changes.
• Generic updates that do not justify the fees charged.
• Poor performance of recommended investments.
• Claiming against these fees can not only recover your money (with interest) but also highlight the need for more transparent and client-focused practices in the financial advisory industry.

The Regulatory Perspective

Regulatory bodies like the Financial Conduct Authority (FCA) have emphasised the importance of transparency and value for money in financial advice. Advisors are required to provide evidence that ongoing fees are justified by the services rendered. If you feel your relationship with SJP has lacked this transparency, it may be a strong indicator to take action.

Final Thoughts

Claiming against SJP for ongoing advice fees can seem daunting, but it’s an important step towards ensuring accountability in financial services. If you suspect you’ve been overcharged or underserved, seek professional advice to explore your options. Reclaiming your money could be the first step toward better financial outcomes.

Pacific Legal is a trading style of Levy & McRae, one of Scotland’s longest-established and leading solicitors. With a proud history of delivering expert legal services, Pacific Legal was created to support clients affected by financial mis-selling and/or wrongdoing.

Pacific Legal are currently working on claims related to St. James’s Place (SJP) and Quilter, helping individuals secure compensation for financial losses caused by mis-selling practices. If you believe you may be entitled to money back, don’t delay. contact us and start your claim today