A law firm is seeking out former appointed representatives (ARs) of St James's Place (SJP) to launch a group legal action, amid allegations that the business took clients from exiting ARs without proper compensation.
A webpage where former ARs can register their interest to join the claim alleges that over the past couple of years, "hundreds" of SJP ARs have had their contracts with SJP suspended or terminated while others have left SJP voluntarily. "In many cases," the site claims, "SJP has then transferred the clients of those ARs to other SJP advisers without paying fair compensation." The group is looking to attract both former and current ARs who have had "some or all" of their practice "taken from" them by SJP. This could have been "because of a ‘compliance investigation', a finding that ...
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