In a recent press release SJP reported a record funds under management figure of £220bn at the end of 2025. This is largely down to stronger than expected investment gains, up from £190bn a year prior.
But one question people should be asking is why.
Why did it take a £430 million, overcharging scandal for SJP to apply a fair fee structure?
St James’s Place were the only wealth manager applying a 5-year redemption clause on pension transfers. That meant if people were convinced to transfer their pensions to SJP, and then decided it was not right for them, they could not transfer their pensions out without paying a fee.
In the first year that fee was 5%, 4% in year 2, 3% in year 3, 2% in year 4 and 1% in year 5, effectively trapping pension customers who wanted to take their business elsewhere.
It’s great that SJP have now applied a fair charging structure but what does this say about their values and ethics when it comes to pension compensation and treating customers fairly?
Why have the majority of SJP funds historically sat in the bottom but now they are suddenly performing?
For years and years SJP have not delivered strong performance. Don’t take my word for it, read this article on Yodelar from a 2018 study , Article link here
Then look at this other article published in 2024:
For years, the largest wealth manager in the UK have not been able to deliver solid performance, and yet, suddenly, at a time when they are having to make financial redress to thousands of clients, they have miraculously started to deliver for people.
It’s very fortunate for them that they have, as this sudden boost in performance will actually reduce their bill when making redress calculations following successful St James Place claims.
Let me be clear, I would never say that SJP have only improved their performance to reduce the redress they have to pay, I’m sure it’s required in order to continue to be competitive. It’s just strange that they have not been able to do it before.
Why are more clients of SJP not coming forwards and investigating whether they are entitled to redress?
SJP have put aside £430 million for overcharging of fees, that is all.
If you transferred existing pensions to SJP you are likely entitled to more, much more.
The maximum a fee claim is worth is 1% per year. The lack of performance could be 3% or even higher depending on what you transferred from.
Use our Redress Calculator for a snapshot of what it could be worth.
Why can’t people separate Financial Adviser and personal relationships?
If you investigate a claim against SJP or any financial adviser, it’s not personal. It’s not against the individual, it’s against the firm. The firm has professional indemnity insurance and is regulated for a reason.
When pursuing financial adviser claims, many clients worry about damaging personal relationships, but it’s important to understand that these claims are addressed through proper regulatory channels and professional insurance.
If you have:
- Transferred existing pensions and investments to SJP
- Not received at least an annual review every year you have been or were with SJP
- Have received some money back from SJP without claiming
You owe it to yourself to investigate whether you are entitled to more financial redress. These are not insignificant amounts of money, claims can be tens and even hundreds of thousands of pounds and that’s money back into your pensions and investments to protect your future.
And most importantly, if you’re a long-standing customer or former customer of SJP Wealth Management, should you not be asking,
Why didn’t they deliver this for me?
Book a call with our claim experts
If you are a new client of SJP, you are probably going to receive a pretty good service, enjoy some good returns and not be overcharged.
Mark FitzPatrick (CEO of SJP) said client engagement was ‘unseasonably high in the third quarter’, linked to the roll-out of their new charging structure in late summer. The new structure came into effect on 31 August this year after a delayed rollout.
FitzPatrick said: ‘As anticipated, clients and advisers successfully adapted to the implementation of our simple, comparable charging structure.’
He added: ‘We enter 2026 with confidence and the changes we have made, combined with our broader strategy to strengthen and grow SJP, leave us well placed to extend our long-term leadership in a highly attractive marketplace.’
Shares in SJP were up 1.5% at 8.30am this morning following the publication of the update.
If you are a long-standing or a former client of SJP, especially since 2018, maybe you should be asking, did they deliver this level of service and performance for me?
If you believe you’re entitled to compensation or have concerns about St James Place claims, now is the time to investigate your options for pension compensation.
why not book a 15 minute no obligation consultation with one of our SJP experts today.
