St James’s Place

ShonaBM

I asked my SJP partner in early January to realise bonds from a family trust I had set up 6 years ago. The money was to be transferred to  two of my nephews. Over 6 months later not one penny has made it to either of their bank accounts. I have well over 200 emails that I have sent regarding this nightmare process. My SJP partner blames SJP admin. The current status for one nephew is that a large some of money is missing between SJP and the bank it was transferred to and SJP cannot find it over three weeks after it was sent. 

They are a shambles , incompetent and I would not trust them with one penny of my money. They take your money very quickly but they don’t give it back so easily. 

I have launched a formal complaint to SJP but that seems to get lost in the depths of client liaison who don’t call you back and the process takes well over 8 weeks. 

They are a bunch of overpaid salesmen who take no responsibility. Do not get caught in their dark web. 

Eyeful

Why did you not chose an IFA but SJP who are just FA's.
May be tell them you are going to complain to the Financial Ombudsman Service (FOS).

Voyager2002

ShonaBM said:

I asked my SJP partner in early January to realise bonds from a family trust I had set up 6 years ago. The money was to be transferred to  two of my nephews. Over 6 months later not one penny has made it to either of their bank accounts. I have well over 200 emails that I have sent regarding this nightmare process. My SJP partner blames SJP admin. The current status for one nephew is that a large some of money is missing between SJP and the bank it was transferred to and SJP cannot find it over three weeks after it was sent. 

They are a shambles , incompetent and I would not trust them with one penny of my money. They take your money very quickly but they don’t give it back so easily. 

I have launched a formal complaint to SJP but that seems to get lost in the depths of client liaison who don’t call you back and the process takes well over 8 weeks. 

They are a bunch of overpaid salesmen who take no responsibility. Do not get caught in their dark web. 

This is an unusual situation...

SJP has a bad reputation on these boards because their fees are high while their investment performance is unremarkable. They might, however, be suitable for people who value the feeling of personal service more than value for money.

I served as executor for a family will some years ago, and that involved liquidating and distributing a substantial investment held with SJP. Once I had overcome their lack of transparency and we had decided we did not wish to continue to hold any of the investment, the process of withdrawing the money was smooth.

tacpot12

Just complain to the FOS when the 8 weeks are up. 

dunstonh

I have launched a formal complaint to SJP but that seems to get lost in the depths of client liaison who don’t call you back and the process takes well over 8 weeks. 

They are inundated at the moment.  So, that is no surprise.

They are a bunch of overpaid salesmen who take no responsibility. Do not get caught in their dark web. 

SJP operates the salesforce model and is one of the most expensive distribution channels in the country. But you knew that when you bought the products.