SJP directed to waive client's exit fees after 'catalogue of errors'

Ombudsman decision

Hannah Godfrey
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“The matters aren’t merely simple administrative failures but issues affecting the investment of his assets and getting access to reliable information about current investments and valuations” - the FOS's Colette Bewley
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“The matters aren’t merely simple administrative failures but issues affecting the investment of his assets and getting access to reliable information about current investments and valuations” - the FOS's Colette Bewley

The Financial Ombudsman Service (FOS) has directed St James's Place (SJP) to waive a client's exit charges after a "catalogue of errors" led that client to lose trust in the advice giant.

Mr B - as the FOS referred to him - complained that for more than five years he received poor advice from SJP and, as a result, wanted to transfer his pension fund to another provider without paying SJP's...

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