Advisers may have been queuing up to criticise SJP's recent increased losses but in doing so, argues Tim Sargisson, they are failing to recognise two important contributory factors
The recent news the St James's Place (SJP) advice arm continues to lose money provided another opportunity for advisers up and down the country to update us with their own opinions on the situation. I have always been somewhat perplexed about this habit of advisers laying into the competition in this way. When I began in financial services in the 1980s, it was the banks that received a frequent kicking from advisers for offering uncompetitive products to the masses … choosing to ignore their own lack of reach into this area. The same week, I also read KPMG has been fined £3.2m for a s...
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