We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Want to move away from SJP
Comments
-
no, although I never asked but based on my sums the difference between my true value and encashment value was about 1 yr of the SJP fees so after one year im green.
It will all depend on how much the difference is. mine was about 1%
1 -
Just for info , this cover is max £500 IIRC
0 -
I think it's definitely worth paying a penalty to get rid of SJP and their advisors. The worst decision I've ever made was to use them. Thank god I've booted them into touch. Also, it doesn't take that long to write off the exit fees with a sensible new platform. You'll likely get a better return at a way lower cost.
As an aside, I doubt their business model of using the associates has much longer to go. Who in their right mind would use SJP and the advisor firm with all the info available today? The sales reps should be looking for alternative careers, and I'm sorry to say but with no sympathy from me.
0 -
As an aside, I doubt their business model of using the associates has much longer to go. Who in their right mind would use SJP and the advisor firm with all the info available today? The sales reps should be looking for alternative careers, and I'm sorry to say but with no sympathy from me.
The industry is seeing a large growth in vertically integrated firms. It is not a declining area. Vertical integration is much more profitable than independents.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
Myself and partner both transferred investments including SIPPs from SJP to ii and it was all very straightforward, no attempts to retain our business.
0 -
good to hear, I don't feel so bad now for not asking!
0 -
If there model continues with rip off fees and poor advice that will be a great pity.
0 -
How long had you been with them? Did you have exit fees to pay?
0 -
We escaped fee free iirc, but we had held the products a long time and not added new money in recent years.
1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.7K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.8K Mortgages, Homes & Bills
- 179K Life & Family
- 263.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards