A prominent wealth management company, St. James’s Place Partnership (SJP) provides financial and investment services to high-net-worth individuals, families, and businesses. But not all SJP’s 850,000 plus clients are getting the service they expect and pay for.
- Negligent advice has resulted in some SJP clients making inappropriate investments that do not align with their financial goals
- Some clients have paid significantly more to invest with SJP, despite almost identical but cheaper funds being available
- Many SJP clients are paying regular, and sometimes substantial, adviser fees for a review service they are not receiving.
In response, the Investment Fraud and Mis-selling team at KP Law has launched a no-win, no-fee group action to help affected SJP clients get compensation for this negligence, mis-selling and overcharging.
If you have invested with SJP, you could be due thousands of pounds in compensation. You could have a claim even if your current investment appears to have performed well.
Are you eligible to join the St. James’s Place compensation claim?
As a result of investment mis-selling, victims might have:
- Lost thousands of pounds
- Been hit with high fees and charges
- Paid for a service they did not need or receive
- Suffered emotional stress and harm.
You might be eligible to join our group action if:
- You are, or you have been an SJP client in the last 10 years
- You hold, or you previously held an investment, ISA or pension plan with SJP
- SJP advised you to switch an existing pension or investment into an SJP product
- You have paid SJP an ongoing adviser fee for a service you have not received .
You can find out more about who is eligible to join our St James’s Place group action here. If you are not sure what you can claim for, we can find this out for you.
Why have we launched a group action against St. James’s Place?
A group action claim is launched where a group of people – sometimes even thousands of people – have been affected by the same issue. Group action cases are also known as multi-claimant or multi-party actions (or class actions in the US).
A group action strengthens the overall position of the claimants and can make big organisations take the matter more seriously. As a group action can have a bigger impact than a single claim, this approach increases your chances of success when claiming compensation from SJP.
However, just because your case is part of a group action, that doesn’t mean that you will receive the same amount of compensation as everyone else if successful. All claims are settled based on their merits, and you will receive what you are owed based on the damage your financial advisor or St James’s Place representatives did with the money you’ve invested.
One of the UK’s leading group action law firms, we have successfully represented claimants in cases against some of the largest companies in the world, including BA, Uber and Ticketmaster. Our dedicated Investment Fraud and Mis-selling team has all the expertise needed to win, even against the most aggressive defence lawyers.
Signing up to our group action is straightforward and costs you nothing as we act on a no-win-no-fee basis.
Why make a claim in the first place?
It can be easy to sit back and do nothing, even if you feel St. James’s Place has mishandled your investment products. But St. James’s Place is an incredibly successful wealth management company with over £115 billion in managed funds. They offer one to one guidance that is supposed to point you in the right direction and protect your funds under management. If they failed to do this, then you’re entitled to compensation.
For many who have already joined our group action against St. James’s Place, they’ve been driven by frustration at the poor managing of their money which has often led to long term goal changes, such as their retirement planning being affected as a result of their mishandled investments.
If you have been affected by poor services provided by SJP, investment mis-selling, or have received poor advice from your advisor, then you may have cause for a claim.
FAQs about our St. James's Place plc group claim
Read on to see our answers to some of the FAQs we have been asked about making a St. James’s Place compensation claim with our expert Investment Fraud & Mis-selling lawyers.
Who is St. James's Place?
St. James’s Place is a wealth management company operating out of St James’s Place House in Gloucestershire. Their aim is to help high-net-worth individuals with their life goals and to ensure that individuals investing with them have the opportunity to build a mutual relationship with their adviser, offering near unlimited access to support and advice.
Face to face meetings are encouraged and your adviser is supposed to work with your goals at the forefront of their mind before making any decisions. The problem is, this hasn’t always been the case.
What is this claim about?
Historically, their fund management retention rate has been strong and St. James Place clients have been very loyal. But that is changing as more and more evidence about negligent advice, mis-selling, and overcharging comes to light.
The KP Law St. James’s Place (SJP) claim covers:
- INVESTMENT MIS-SELLING. Where SJP advisers have provided negligent advice.
- INNAPPROPRIATE FUND CATEGORIES. Unlike independent financial advisers, SJP advisers can only recommend the company’s own investment products. However, some SJP clients have paid significantly more to invest with SJP despite almost identical but cheaper funds being available elsewhere. In addition, SJP has failed to move some clients to cheaper share classes of the same fund, costing their clients thousands of pounds.
- LACK OF ANNUAL REVIEW. Where SJP customers have been paying adviser fees for a service they are not receiving.
Keeping things simple, our straightforward process empowers SJP clients to claim everything they are due, with one simple sign-up form. Where you are not sure what you can claim for, we can find this out for you.
What is a group action?
A group action claim is launched where a group of people – sometimes even thousands of people – have been affected by the same issue. Group action cases are also known as multi-claimant or multi-party actions (or class actions in the US).
A group action strengthens the overall position of the claimants and can make big organisations take the matter more seriously. As a group action can have a bigger impact than a single claim, this approach increases your chances of success when claiming compensation from SJP.
I think my SJP financial advisor was negligent. Do I have a claim?
To make a professional negligence claim, you need to demonstrate that you were owed a duty of care, that the professional involved breached this duty, and that this breach caused you to suffer a loss. This can be hard to prove, as a professional is not expected to be right 100% of the time. To win your case, you must show that another experienced professional in the same field would have given different advice, or that the professional failed to follow recognised good practice. We have a history of effectively handling these types of cases and can help you make a successful claim.
What are the potential consequences of investment mis-selling?
As a result of investment mis-selling, victims might have:
- Lost thousands of pounds.
- Been hit with high fees and charges.
- Paid for a service they did not need or receive
- Suffered emotional stress and harm.
Do I need a lawyer to claim compensation from SJP?
You can make a claim without a lawyer. But while a DIY investment mis-selling claim could save you solicitor’s fees, in the end, even if you win, you might walk away with less compensation. This is often due to a lack of understanding over the law/procedures, which can put individuals at a disadvantage when up against savvy (and sometimes aggressive) defence lawyers. And, of course, if you lose your case, you will likely have to pay the other side’s costs. Because KP Law offers no-win, no-fee funding arrangements, you benefit from expert legal support without worrying about costs.
Can I make a SJP claim with KP Law?
You might be eligible to join our group action if:
- You are, or you have been an SJP client in the last 10 years
- You hold, or you previously held an investment, ISA or pension plan with SJP
- SJP advised you to switch an existing pension or investment into an SJP product
- You have paid SJP an ongoing adviser fee for a service you have not received.
Simply register with us and we will assess your case free of charge. Signing up is straightforward and costs you nothing as we act on a no win-no fee basis.
How much will I have to pay if I make a claim with KP Law?
You will only have to pay anything if you win. You will not have to pay anything upfront. Any payment would only come out of the money that we recover on your behalf. We will conduct the claim for you under a no-win, no-fee agreement. If you win, our fees will be deducted from your damages/compensation.
How much compensation could I get?
Each case is different, but many of those affected by this case could be owed many thousands of pounds. Furthermore, just because your case is part of a group action doesn’t mean that you will receive the same amount of compensation as everyone else if successful. All claims are settled based on their merits, and you will receive what you are owed.
Why should I choose KP Law to make a SJP claim?
One of the UK’s leading group action law firms, KP Law has successfully represented claimants in cases against some of the largest companies in the world, including BA, Uber and Ticketmaster. Our dedicated Investment Fraud and Mis-selling team has all the expertise needed to win, even against the most aggressive defence lawyers.
We only represent clients in cases we expect to win. And because we know what to look for when investigating a case, we ensure you get the maximum compensation possible. Our solicitors have even won cases where victims had been told that there was little to no chance of compensation.
Signing up to our group action is straightforward and costs you nothing as we act on a no-win-no-fee basis.
If you are not sure what you can claim for, we can find this out for you.
