St James Place Investment

please can anyone help . at present we have investments with the halifax of approx 70,000.we have been invited to to move the money, and invest with st james place patnership. as we have never invested before we are quite unsure on what to do for the best. please please please can anyone help !!!
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  • bigbloke45
    bigbloke45 Posts: 2,338
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    St. James Place is owned by HBOS, but is really run by the people who managed Hambro Life that became Allied Dunbar i.e Mike Wilson and Mark Weinberg.

    Do you really want to invest in what is, essentially a direct sales operation?
  • would we be covered should anything go wrong .. and how can i check out if they are part of the fscs ( compensation scheme ) .. the money was left to us so there for we have no investment knowledge . thanks
  • Blowsy
    Blowsy Posts: 76 Forumite
    if you like the advisor and feel you can trust him/her then go for it.
    st james's place are not an independant advisor so on this website they're often given a hard time. what most people don't understand their approach to investment management and look primarily at their status as a tied advisor.

    to kid yourself into thinking that being independant means "not sales orientated" is total rubbish.

    good company in my opinion but you've got to like the advisor!
  • Blowsy
    Blowsy Posts: 76 Forumite
    mon123 wrote: »
    would we be covered should anything go wrong .. and how can i check out if they are part of the fscs ( compensation scheme ) .. the money was left to us so there for we have no investment knowledge . thanks

    they are authorised and regulated by the FSA and therefore covered by the FSCS.
  • jem16
    jem16 Posts: 19,393
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    Blowsy wrote: »
    i
    st james's place are not an independant advisor so on this website they're often given a hard time. what most people don't understand their approach to investment management and look primarily at their status as a tied advisor.

    A tied adviser will only be able to offer their own products. So approx 28 funds availabel as opposed to over 1000 from a funds supermarket.
    to kid yourself into thinking that being independant means "not sales orientated" is total rubbish.

    Being independent means they are not working for any one company - they are working for the client.
    good company in my opinion

    Fine if you like a company where some of their advisers have tried to say that they are IFAs. Now why would they do that?
  • jem16
    jem16 Posts: 19,393
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    Blowsy wrote: »
    they are authorised and regulated by the FSA and therefore covered by the FSCS.

    As you say they are covered for investments up to £48,000.

    Of course if an IFA places your investments with a funds supermarket your investments will be spread around lots of different providers thus reducing the risk.
  • Kavanne
    Kavanne Posts: 5,093 Forumite
    My dad was a partner at SJP and he was an alright bloke. Not that that helps.
    Kavanne
    Nuns! Nuns! Reverse!

    'I do my job, do you do yours?'

  • cheerfulcat
    cheerfulcat Posts: 3,332
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    mon123 wrote: »
    at present we have investments with the halifax of approx 70,000.

    Investments or cash deposits? That is to say, do you have actual investment products, or just savings accounts?
    we have been invited to to move the money, and invest with st james place patnership.
    Invited by whom?

    as we have never invested before we are quite unsure on what to do for the best. please please please can anyone help !!!
    Well, calm down for a start! There's no rush to do anything, especially if the money is sitting in cash. Just make sure that you're getting a decent interest rate for now.

    No-one here is allowed to give you investment advice but we can point you in roughly the right direction. You need to give us some more information though. So - do you have any debts ( this includes any mortgage )? Do you need/want to supplement your income? Have you any large expenses coming up, either in the near future or perhaps further out ( new house or school/uni fees for example )? Have you planned for retirement?
  • it is a cash deposit . i am in no debt , no mortgage , no kids , no commitments . an advisor who previously worked for the halifax has asked us to move to st james place.
  • cheerfulcat
    cheerfulcat Posts: 3,332
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    So you are free to save/invest this money for the long-term? And this is what you wish to do? If so, then you have several choices, mainly split along the lines of DIY or pay someone else to do it.

    Edit - I should say that neither bank employees nor tied advisors would be my first choice for advice.
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