0161 840 1560

Request a Call Back

0161 840 1560

St. James’s Place (SJP)

If you have ever been a Pension, ISA or Investment customer with SJP, then it’s likely you are entitled to redress or compensation.

Request a call back

Have you received improper financial advice, lost money in an investment / pension or had bad advice from an IFA? You may be eligible to make a substantial claim.

Get in touch with Claim My Loss now to get started!
*Indicates a required field

No win, no fee

If you don’t get paid, then you pay nothing. If you get paid, we take a pre-agreed percentage based on how much money you receive for your peace of mind.

How to Identify if you have a claim against St James’s Place

In February 2024 SJP Set aside a reported £426 million for client compensation following concerns raised by the Financial Conduct Authority that SJP had been charging clients annual management fees without carrying out regular annual reviews.

If you have been a customer of St James’s Place and meet any one of the following criteria:

  • You did not receive a review with your Financial Adviser every year
  • You were advised to move existing pensions, ISAs or Investments to SJP
  • You incurred penalty charges for exiting SJP
  • You incurred tax or other liabilities as a result of using SJP

If you any one of the criteria above then you could be entitled to compensation and/or potential financial redress. 

Contact Us Today to find out how our Financial Adviser Claim Specialists can help you recover any lost savings, fees you may have paid and growth on old pensions & investments you may have lost.

Our Process for Making an SJP Claim

free consultation

Free Consultation

We will carry out a free consultation to help establish the best course of action for your complaint or claim.

Gathering Evidence

We will write to SJP, your previous pension providers and any other parties involved to establish your grounds for claim and exactly how much your claim could be worth.

Submitting Your Claim

We will prepare and submit your complaint to SJP. Some complaints can be resolved directly however where necessary we will escalate your complaint to the Financial Ombudsman or through the courts. 

We understand making a claim against your SJP adviser could be stressful for you. Remember that when you appoint us it is an investigation not an accusation. Think of it like an 'independent audit’.

You may love your kids school and their teachers, but you’d want to know if they are not meeting the education standards.

Benefits of Making a Claim

recover your losses
Recover your losses

If you’ve been mis-sold a pension, you may have experienced financial losses. By making a claim, you have the opportunity to recover what is rightfully yours.

no financial risk
No financial risk

With our No Win No Fee guarantee, there’s absolutely no risk to you. You won’t pay anything unless your claim is successful.

free expert guidance
Free expert guidance

Our initial consultation is completely free. We’ll provide expert advice tailored to your situation and help you determine if you have a valid claim.

Hassle free process
Simple, Hassle-Free Process

We handle every aspect of your claim for you, from gathering evidence to submitting your complaint and negotiating with the relevant parties.

Schedule a Call
How much is my claim worth

Our Clients Love Us!

Benefits of Making a Claim

Why are people making claims?

In 2023 concerns were raised over St. James’s Place as they announced reducing the fees they were charging to their Pension, ISA & Investment customers which related specifically to annual management charges being deducted from peoples pensions and investments without carrying out annual reviews.

In short it means SJP have been charging customers for a service that they have not been receiving, specifically annual reviews, where Financial Advisers are supposed to meet with their clients to ensure the advice they have given is still relevant to their clients circumstances.

No, SJP are just the largest firm of Financial Advisers, sadly it has been common practise amongst Financial Advisers to collect Annual Management Charges from their clients Pensions & Investments without carrying out the regular reviews they are paying for.

Annual Management Charge Claims are driven by two key metrics
1. How much you had invested in your pension, ISA or General Investment Account and 
2. How long you were invested with SJP for
 
The average claim for unfair fees from SJP is approximately £2,300 BUT THERE COULD BE MUCH MORE DUE!

If you were convinced to transfer (or consolidate) existing pensions, ISAs or investments by moving them all to SJP then you could be entitled to a great deal more than just fees. 

SJP are a tied agent, this means they are not independent, so SJP customers tend to just get SJP funds which historically have performed very poorly compared to other products out there.
 
When a Financial Adviser moves pensions and investments there needs to be strong justification for doing so, however often there isn’t and it was just a way for the financial adviser to charge fees. 
 
If the pensions you were in have performed better than the SJP funds you were placed into, and you haven’t been looked after by your financial adviser for annual reviews then you could potentially be far worse off.
Client Transferred £50,000 from an old workplace pension to SJP
The Client stayed with SJP for 10 years.
The old workplace pension averaged 8% per annum.
The SJP fund averaged 5% per annum.
The SJP adviser charged 1% per annum and did not carry other any annual reviews. 
 
Fee Only Claim at 1% per annum = £7,433
 
Had the client stayed with their old workplace scheme then after 10 years the value would have been £107,946.
The SJP Fund value would only be £81,445.
 
Claim for Redress from loss of growth due to Churning = £26,502
 
Total Claim Value = £33,935

This type of claim is unlikely to be upheld by SJP’s internal complaints department or the Financial Ombudsman Service. If SJP refuse to pay redress then you will likely have to pursue the matter through the courts.

First you have to identify whether the advice to transfer existing schemes was fully justified as if it was it may weaken your case.
 
Once you have assessed the advice, you then need to calculate the loss, this means establishing the performance of the scheme you left against the SJP scheme you were put into. The calculations need to be verified by an expert witness which is usually a qualified financial adviser, forensic accountant or actuary.

Unless you are using a no-win no-fee legal service like ours, you will need to pay court fees, fees to an expert witness, hourly rates to a solicitor (unless representing yourself) and if your claim is over £10,000 you may need to consider insurance to protect yourself against opposing costs if things do not go your way in court.

As legal experts, we take on the financial burden of your case in return for a pre-agreed percentage of any settlement in the event your claim is successful. A large portion of the work we do takes place at the start when assassing the merits of your claim. If after our investigations we do not believe that your case has sufficient merit, either due to being time barred, lack of sufficient evidence or simply because you have not suffered financial detriment, we will close your file and you have peace of mind that you did what you could.

It is impossible to accurately value a claim without first knowing, where the money was transferred in from, how the previous schemes performed, what fees those schemes charges, what fees SJP charged for their platform, funds and adviser and what growth was achieved to offset those costs with the new SJP products.
We also have to investigate whether the advice as a whole was suitable and justified.
 
However, as a rough guide for how potential claims can be valued, use our Financial Adviser Redress Calculator which is designed to illustrate the potential values of loss of growth and fees over a period of time. 

Request a call back

Have you received improper financial advice, lost money in an investment / pension or had bad advice from an IFA? You may be eligible to make a substantial claim.

Get in touch with Claim My Loss now to get started!
*Indicates a required field

Get in touch

Facebook Instagram Linkedin

Claim My Loss is a trading style of HT Legal Ltd. HT Legal Ltd is registered in England and Wales.

Registered number; 06911903, Registered office; Clarendon Chambers, 5a Market Place, Hyde, Cheshire SK14 2LX.

Authorised and regulated by the Solicitors Regulation Authority; SRA ID 535317.

ICO registration number; Z2387380.

You do not need to use Solicitors or a Claims Management Company to make a complaint to your lender or other Compensation Scheme, such as the Financial Services Compensation Scheme (FSCS). You can refer your complaint to the financial ombudsman or FSCS yourself free of charge.

*The signup and setup of your case will be actioned based on the information you have provided. HT Legal Ltd cannot accept any responsibility or liability for loss or damages due to the provision of inaccurate information. During the course of your complaint, we may need to contact you via telephone, email, SMS or any other electronic means.



Your Privacy Matters

We take your privacy seriously. We use your information to progress your claim, contact you about your case, and comply with legal and regulatory obligations.

We may share information with trusted partners, including Valid8 IP Ltd for ID verification and soft credit checks, and with organisations such as the Financial Ombudsman Service, FSCS, and courts where needed to resolve your case.

Your data is stored securely, protected by encryption and strict access controls, and only kept for as long as necessary. You have the right to access, correct, or erase your data at any time.

Read our full privacy policy