SJP looks to spend up to £1bn to buy out partner businesses — reports

Internal succession planning model could be set for a radical overhaul

Hope Coumbe
clock • 1 min read

St James’s Place (SJP) will look to raise around £1bn in order to buy out the businesses of its retiring partners, according to a report.

Speaking to The Financial Times, the advice giant's chief operating officer said the business had seen pressure from higher interest rates. According to the report, buying the books of retiring advisers has become significantly less appealing to younger advisers within the network due to interest rates and regulatory pressures. There are 2,622 partner firms with the SJP network and around 4,800 self-employed financial advisers working within them. "We have been thinking about how we increasingly employ equity alongside debt to help with succession planning," Iain Rayner said. "Prov...

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