St James Place

Cool-customer2015

Any personal experience on this company in terms of investment, advice, expertise and their T&Cs that i should be aware of before using them? 

retiringtoosoon

Cost more than they’re worth

HappyHarry

I know I am biased, but if you’re going to use an adviser, use an IFA. 

St James Place “advisers” are just sales reps with glossy brochures and expensive, underperforming products.

Linton

They are not IFAs and so unlike IFAs they can only advise on their own in-house funds.  I suggest you seek advice from an IFA who must cover the whole market and has no vested interest in selling you particular funds.  You should also find that a small local IFA is much cheaper.

Dazed_and_C0nfused

Cool-customer2015 said:

Any personal experience on this company in terms of investment, advice, expertise and their T&Cs that i should be aware of before using them? 

Why are you can considering them over an IFA?

Have you checked how long you will be tied in for if you do decide to use them?

6 years has been mentioned on here numerous times.  And still seems to be case now.

https://www.sjp.co.uk/charges/pensions-charges

TBC15

Have a good look around ………. Then don’t.

You’re unlikely to find anyone round here that has a printable good word for them.

If you want to have someone hold your hand even when it’s in your pocket probably a good bet.

Voyager2002

Cool-customer2015 said:

Any personal experience on this company in terms of investment, advice, expertise and their T&Cs that i should be aware of before using them? 

My father used them for some years before his death, and since I was his 'proving' executor I had a good look at what they had done.

Everything they did was legal, and since he had a disability he probably needed an advisor to visit him at home and discuss at length what they were doing and why. Of course that level of service is expensive, and by goodness he paid for it. He decided to move house within six years of making his investments, and the penalties for withdrawing money were significant.

Anyway, they are not actually crooks although once you understand how much they charge you might wonder why there isn't a law against them. And in extreme cases you might need the service they offer, while many people are likely to enjoy their smooth talking and the feeling of being somehow special. Most of us would probably prefer to optimise our investments at only reasonable cost, and so St James' Place should come bottom of the list. Let us be clear, however: they are not criminals, and allowing criminals to look after your money for you would leave you even worse off!

Beddie

They are expensive, with a very slick marketing programme and, surprisingly, lots of happy customers. That's because most don't realise just how expensive they are and fall for the nice brochures and smarmy salespeople.

I'd avoid them personally. Use an IFA, or do research on making your own investment decisions.

ColdIron

Small range of distinctly average to poor funds with a hefty price tag. Their investment bonds and pensions can be difficult or costly to exit if you change your mind

Compare them to the alternatives before you make your decision

Stubod

..loads of threads on this forum regarding SJP...and they all say the same, that they are far too expensive, can have high exit fees, and offer poorly performing investments.

However they do have very nice brochures, and very slick salesmen....(with very nice cars)....much to my embarrassment I went with them once, many years ago, but soon learnt the error of my ways and left as soon as I could.......

Put simply ....DON'T DO IT!!!!..far better value elsewhere.

Aretnap

VERY high charges. Limited range of funds. Nothing in the performance of those funds to justify the high charges. Further exit charges which make it costly to transfer out when you realise you've made a mistake.

On the plus side you will get a well spoken, sharp suited salesman (sorry, adviser) who will show you lots of glossy brochures and make you feel important. But if actually growing your wealth is more important than that, I'd echo the suggestion to look for a local IFA instead.