A former St James’s Place adviser has criticised the wealth manager’s handling of his client relationships after his firm left to join rival True Potential, prompting a debate online over who ultimately controls the relationship between an adviser and their clients.
Rob Stroud, whose firm had spent 18 years with SJP, wrote that the firm had expected its first few weeks at True Potential to be focused on getting up to speed with new systems and rebuilding its operations. Instead, he said, it had been dealing with the fallout from the way its clients were transferred after the departure from SJP. "We were not permitted to inform our clients of the move to True Potential until after we had left SJP," Stroud wrote on LinkedIn. "Before we could get an approved welcome letter out to our clients and without our consent SJP quickly moved our entire cl...
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