SJP compensates client for lack of advice fee clarity and delayed service

Client was left to borrow from family

clock • 3 min read
SJP compensates client for lack of advice fee clarity and delayed service

The Financial Ombudsman Service (FOS) has upheld a complaint against St James's Place Wealth Management (SJP) from a client who was dissatisfied by how the firm dealt with her request to access her pension benefits in 2019 as well as a proposed additional advice charge (AAC) of £1,725.

The complaint stems from a long-time client, Ms B, who sought to access her pension benefits in July 2019. Her SJP adviser initially recommended making a withdrawal with a UFPLS (uncrystallised funds pension...

To continue reading this article...

Join Professional Adviser

 

  • 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.
  • Tap into our community intelligence through our regular Pro Adviser poll.
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

HMRC to refund £42m in overpaid pensions tax in Q4 2021

HMRC to refund £42m in overpaid pensions tax in Q4 2021

Over 13,000 repayment claims

clock 17 January 2022 • 2 min read
Register now: Incisive Media launches Sustainable Investment Festival 2022

Register now: Incisive Media launches Sustainable Investment Festival 2022

In-person event takes place in June

Beth Brearley
clock 17 January 2022 • 2 min read
“The inter-generational wealth transfer is upon us now, so we need to be on the front foot," said Sarah Lord, president of the PFS.

PFS reveals focus on 'new generation of clients' in 2022

Evolving with a changing demographic

clock 17 January 2022 • 2 min read