St James Place

mikeyboy

Has anyone worked or used St James Place? They are a company offering Financial Advice...

The reason I ask is that I have been approached by them to join their "St James Place Academy" to train and become an advisor with them

Does anyone have nay experience of how they operate? should i be jumping at the chance to join them or give them a wide berth?

Thanks
Mikeyboy

jobbingmusician

NO experience of St James Place. However, I recently mystery shopped a financial advice company. As I run a charity which operates like a CAB in my 'real' life (please note, I run it. I am NOT an adviser!!!) I was fascinated to learn how these places run.

My experience was simply appalling. The adviser was good at checking my debts, who they were with, and amounts. He completely forgot to ask what my income was :eek: When I prompted him on this, he STILL forgot to ask me what my outgoings were. For all he knew, I could have been living rent free, with £2k a month disposable income. However, he stated quite clearly that a DMP would not be suitable for me, and was keen to sign me up for an IVA. At no time did he mention fees.

Based on this, I would run like the wind from ANY financial advice company!!!!!!

hansi

mikeyboy wrote: »

Has anyone worked or used St James Place? They are a company offering Financial Advice...

The reason I ask is that I have been approached by them to join their "St James Place Academy" to train and become an advisor with them

Does anyone have nay experience of how they operate? should i be jumping at the chance to join them or give them a wide berth?

Thanks
Mikeyboy

Sorry to be so late with this, only just seen it. I have had some experience with SJP. Some 15 years ago I invested a lump sum into some of their managed bonds ( I have a good pal who works for them), left it there for a few years and then surrendered it with about 60% profit.( It was in the good years of the FTSE!) and I currently have a Unit Trust ISA with them and have held it for about 18 months, presently seeing about 22% profit on my investment. Don't know what thy're like to work for, but they seem to attract some negative comments on this site.

barvid

My company works with SJP and I can, at least, verify that they are a genuine IFA and not a scam organisation.

Tiggs_2

barvid wrote: »

they are a genuine IFA

No they aren't.

barvid

Care to elaborate, Tiggs.....??? Reasons would be helpful to the OP.

Tiggs_2

There isnt much to add. SJP are not IFA's.

As for the OP's question....i have no experience of their "academy" so can't really offer much advice in that respect.

Tiggs_2

jobbingmusician wrote: »

Based on this, I would run like the wind from ANY financial advice company!!!!!!

Isn't that like saying "i once ate a chicken that gave me food poisoning, based on this i wont eat anything else"

barvid

I don't quite understand why Tiggs is saying SJP aren't IFAs when they are. My company works with IFAs; they bring us business in their capacity as an IFA. Or is he being picky because they describe themselves as providing "wealth management services"? The point I was trying to make was that they are a reputable and genuine organisation and not a fly-by-night sham who are out to fleece people. I'm not going to say any more because Tiggs will just say "no they're not" again without providing any substantive arguments, but if anyone wants to know more then their website is https://www.sjp.co.uk.

Tiggs_2

I dont really need any substantive argument.....SJP are not IFA's. Do you actually know what an IFA is? Their advisers sell SJP products.....if they described themsleves as IFA's they would be in a LOT of trouble!

winnie81

I know of a few people who work at sjp they are based in my town and they don't rate it that badly. This is just people in passing etc at the school gates so I have never been in an in depth conversation with anyone