The cost of investing £1m with SJP; £4bn of pensions scams; and retiring the word 'retirement' - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
The cost of investing £1m with St James's Place… nearly £1m Investors who put large sums of money into St James's Place (SJP) could see almost half their profits eroded by the company's charges over 20 years, claims this Sunday Times article. According to research commissioned by the paper and carried out by Candid Financial Advice, someone who invested £1m could lose almost the same amount in fees over 20 years, On a £1m pot growing at 6% a year, says the piece, an investor would lose 43% of their gains (£340,743) over a decade if they held SJP's most popular balanced portfolio. Over ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
