SJP re-platforming costs hit £240m as it completes asset migration

Spent £22m from January to June

clock • 2 min read

St James's Place (SJP) has completed the migration of all UK business onto its Bluedoor platform, taking the firm's total re-platforming costs past £240m.

In May, the restricted advice giant completed the migration of its older pension plans. Then, over the weekend of 20-21 July, it successfully migrated a £22.2bn tranche of investment bond business. By June 2018, SJP had broken the £200m re-platforming costs barrier but, after spending £20.6m on the project in the second half of 2018 and another £22m in the first six months of 2019, it has pushed past the £240m mark. It has now spent a total £243.8m on the project. Now the migration to the new Bluedoor platform has been completed, SJP added, the dual running costs should fall away towa...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

My Care Hub expands to public following strong adviser support

My Care Hub expands to public following strong adviser support

Advice sector has played ‘pivotal role’ in successful rollout of care guidance platform

Jenna Brown
clock 10 September 2025 • 4 min read
CBI CEO urges Rachel Reeves to take back manifesto promise not to raise tax – report

CBI CEO urges Rachel Reeves to take back manifesto promise not to raise tax – report

Rain Newton-Smith claims ‘the time for tinkering is over’

Isabel Baxter
clock 10 September 2025 • 2 min read
'Fundamentally' different advice profession risks reputational damage from football scandal

'Fundamentally' different advice profession risks reputational damage from football scandal

High profile advice incidents like V11 ‘damaging’

Isabel Baxter
clock 09 September 2025 • 3 min read