My ISA with St James Place

ColdIron

This one? Highlights for those without a subscription

Pincher

Are you reacting to the Sunday Times' crusade against St James Place? Puts you off well spoken men in suits, doesn't it? The guy in the Money section article, a few weeks ago, thought the guy who took his money was his life long friend.

Would be a great movie if the SJP "partner" was sleeping with his wife, daughter and tries to seduce him as well.

The exit penalty disguises the fact that the money is GONE, on commission, under the guise of performance prizes. You think you have £25k, but they know there's only say £20k, that's why they have to make you pay an exit penalty. If EVERYBODY left SJP, penalty free, there is not enough money.

Back to your predicament. Get BBC Panorama to do a feature on you. Maybe they will let you get away exit penalty free.

Interesting moral dilemma, don't you think? Should I leave with my £25k intact, knowing other people will end up with even less? Shouldn't I stand with other victims of SJP, and take the hair cut in solidarity? :A

AnotherJoe

purplelavender wrote: »

As I expect you realise I'm no expert, looking at my most recent summary which shows the split of investments, shared between UK high income, Equity income, Multi asset, international equity and finally UK and general progressive.
It's bit meaningless to me!

This is like drawing teeth.

Exact names please

(I'm trying to get to, are these SJP only specific funds or ones you could buy from anyone)

purplelavender

Another Joe, I'm sorry if I'm not helping myself but I did try to explain that I'm not an expert. So I've got my most recent summary here but I'm not sure what information on it I need to provide. Please be patient, it's why I'm asking for advice.

purplelavender

Pincher, I'm not sure how to react to your comment. I saw sonething on Twitter last night which was something along the lines you mentioned. This is why I wondered whether it's the best place for my small investment. I suppose my advisor was like a friend but he's retired now. Am i misunderstanding your comment?

AnotherJoe

purplelavender wrote: »

Another Joe, I'm sorry if I'm not helping myself but I did try to explain that I'm not an expert. So I've got my most recent summary here but I'm not sure what information on it I need to provide. Please be patient, it's why I'm asking for advice.

Presumably your report says each fund you are invested in?

E.g. It doesn't just say "Equity Income Fund" but it says " Blackrock Cautious Equity Income Fund" or Acme Global Equity Income Fund" etc. Or maybe it says SJP Equity Income Fund ?

And so on?

purplelavender

There's a table which shows "Split of assets by asset class"
UK equity
North American equity
Asia and Pacific equity
European equity
Other equity
Alternative investments
Fixed interest
Cash
I can't find anything more specific in my old paperwork
So I guess it's all SJP

AnotherJoe

So there's no table that specifies how much is in any particular fund? Nothing that says Acme Equity Income fund £5,000, cautious assets fund £7,000 and so on? In that case I'd guess they are SJPs funds which have very high charges (from what I read no personal knowledge)

In your place I'd bale and take whatever losses there are in order to get my money somewhere I could see exactly what it was invested in.

purplelavender

Thanks Joe, it just states how much in each of the listed funds.
So now if I do want to invest elsewhere this brings me to my OP, what to do with it? Bearing in mind I'm not very confident with all this.

xylophone

You say

I don't want to play the market, I want it to sit somewhere gaining interested until I need it.

Are you sure that you want a stocks and shares ISA?

It would be possible to invest in funds that pay interest but the value of the units would vary with the market.