The Financial Ombudsman Service (FOS) has sided with a client who alleged that St. James’s Place Wealth Management’s (SJP) delayed withdrawal of the gift and the loan bond plans - of which he was a trustee - cost him on the bonds’ gains during the delay as well as the opportunity to reinvest.
The client, Mr B, said he instructed SJP to withdraw all the funds from the gift and the loan bond plans in September 2020, but the money was not sent to his trust account until November - around 9 November...
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.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
