Wealth manager St James's Place (SJP) is rolling out "minimum service standards" for its advisers to ensure trail commission and ongoing fees are being levied fairly.
Chief executive David Bellamy (pictured) said the standard sets out how much contact advisers should have with clients, and would ensure a "fairly consistent" service across SJP's regional offices. "The RDR philosophy behind trail is that there are probably too many people in the marketplace today who sell a product, and then [the client] never sees their adviser again," he said. "Quite rightly the regulators are saying that ought to change." Bellamy said charging trail remains a "critical" part of SJP's model, but that clients were happy with the service they receive. "It's a crit...
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