St James Place Claims

lindypp

Hi
I’ve had an ISA and Investment Bond with SJP for about 20 years. In that time the FA only contacted me twice for a review, I didn’t follow up the first contact, but did with the second one and got a phone call from him.

I’m reading a lot recently and also today heard a radio advert that people can claim against paying for annual reviews with SJP and not receiving them. 

What’s the easiest way to explore this?  I’m not brilliant with these sort of things, and a family member of the FA is currently looking at my retirement forecast. They said when I mentioned it to them SJP had funds set aside for compensation, but didn’t expand on it. 

Thanks 

katejo

lindypp said:

Hi
I’ve had an ISA and Investment Bond with SJP for about 20 years. In that time the FA only contacted me twice for a review, I didn’t follow up the first contact, but did with the second one and got a phone call from him.

I’m reading a lot recently and also today heard a radio advert that people can claim against paying for annual reviews with SJP and not receiving them. 

What’s the easiest way to explore this?  I’m not brilliant with these sort of things, and a family member of the FA is currently looking at my retirement forecast. They said when I mentioned it to them SJP had funds set aside for compensation, but didn’t expand on it. 

Thanks 

I saw an advert for the firm which is doing this. I briefly contacted them to find out more and their attitude put me off immediately. They kept ringing me or texting me at times when I couldn't take a call. I emailed them with a couple of questions about the basis for their claim and they ignored the email but kept ringing. I eventually found out that the clients they want are people who have been investing for over 10 years but haven't had an annual review in all that time. That didn't apply to me. I have only been with SJP for 3 years (unit trust and ISA not my pension) and I have had a very helpful review every year. I have read that the firm doing this will actually keep something like 40% of any money awarded to you.

ColdIron

Don't use ambulance chasers (even if they are not scams themselves). They can't do anything you can't

Deal with SJP directly. There is a link in the Historic servicing review section

https://www.sjp.co.uk/individuals/help-centre/make-complaint

dunstonh

I’ve had an ISA and Investment Bond with SJP for about 20 years. In that time the FA only contacted me twice for a review, I didn’t follow up the first contact, but did with the second one and got a phone call from him.

Some key things to be aware of here.

The retail distribution review was 1st January 2013.   It only affected sales made after 1st January 2013.  It did not impact on pre-RDR sales.       

I’m reading a lot recently and also today heard a radio advert that people can claim against paying for annual reviews with SJP and not receiving them. 

What makes you think you have a contract to provide annual reviews?  (which even on post RDR business only became mandatory from 2018 and didn't apply to insurance business - which an investment bond is)

They said when I mentioned it to them SJP had funds set aside for compensation, but didn’t expand on it. 

SJP have set aside an amount for this.   Which in turn they will recover from any parter firms/advisers if it was found they did wrong.