St. James Place Compensation Claims
Make a Claim Against St. James’s Place to Recover Your Money
If you’re a St. James’s Place (SJP) customer, you may be owed compensation for fees you paid but never benefited from. Many SJP clients have been charged for financial advice that was never provided, whilst others have been misled into costly investments that didn’t suit their needs. Hidden charges, undisclosed terms and mis-sold investments have left some investors facing unexpected losses.
If you did not see your Financial Adviser every year for a review – you could be owed thousands of pounds. Contact us today for a free assessment.
You may be eligible for a St. James’s Place claim if:
Ongoing advice fees without service
- You were charged for ongoing advice but never received it.
- Annual reviews and financial guidance were promised but not delivered.
- You continued paying fees without receiving any of the agreed services.
High fees and lack of transparency
- You were overcharged, which resulted in unexpected costs.
- Your adviser failed to disclose the fee structures clearly, and fees were deducted.
- Irrational withdrawal penalties and hidden charges reduced your investment returns significantly.
Unsuitable investment advice
- You received investment recommendations that didn’t align with your financial situation and goals.
- Risky investments were suggested despite a low-risk preference.
- Some funds had high fees but failed to perform as expected.
How much could you claim against St. James’s Place?
- St. James’s Place has set aside £426 million for claims.
- Refunds may cover advice fees, investment losses, and hidden charges.
- A free case review will help determine what you could recover.
Here's how we helped our clients
Lisa Morris – £42,000 Recovered
Lisa and her partner invested £64,000 in ISAs and Unit Trusts after taking advice from St. James’s Place. When they withdrew their money, they had lost 30% due to market volatility.
We reviewed their case and found they had been advised to invest in high-risk commercial property despite having no investment experience. We challenged SJP’s advice, and Lisa recovered £42,114.
Mark Beswick – £17,150 Recovered
Despite already having a strong workplace pension, Mark contributed to an Additional Retirement Plan through SJP. After years of contributions, we found he would have been better off sticking with his employer’s scheme.
We submitted his claim, proving that SJP’s advice was unsuitable. They agreed and paid Mark £17,150 in compensation.
Find out how we can help with gaining compensation from SJP
Starting your claim with Goodwin Barret is simple. Our team will assess your case for free and explain your options.
- We handle the entire process, from gathering evidence to submitting your claim.
- You won’t need to deal directly with St. James’s Place - we take care of everything.
- We keep you informed every step of the way.
No upfront fee claims against St. James’s Place
Worried about legal costs? You don’t need to be. At Goodwin Barrett, we handle your claim with no upfront costs. You don’t need to pay anything to start your case.
- If your claim is unsuccessful, you pay nothing.
- We only charge a fee based on the compensation amount if we win your case:
- £1 – £1,499: 36%
- £1,500 – £9,999: 33.6%
- £10,000 – £24,999: 30%
- £25,000 – £49,999: 25%
- £50,000+: 18%
- Compensation is paid directly to Goodwin Barrett and we simply deduct our fee and send the remainder to your bank
- Forget hidden charges - just a fair, transparent process (learn more about our fees)
Why choose Goodwin Barrett for your St. James’s Place claim?
We have extensive experience handling claims against major financial institutions, such as Barclays, Halifax, Lloyds, Santander, Royal London, and many more. Our expertise ensures we understand the complexities of mis-sold investments and ongoing advice fees.
We deal with St. James’s Place directly on your behalf. You won’t need to contact them - we handle everything for you. We keep you informed at every stage, providing clear communication and guidance throughout the process. Our dedicated team supports you from start to finish.
Ready to start your St. James’s Place compensation claim process today?
Don’t wait to find out if you’re owed compensation. You could be entitled to compensation if you paid St. James’s Place for advice you never received or lost money due to poor recommendations.
A quick case review could help you recover your money. Contact us immediately for a free case review.
0808 163 1659 enquiries@goodwinbarrett.co.uk
St. James Place Compensation FAQs
Why are people making claims against St. James’s Place?
Claims against St. James’s Place stem from allegations of overcharging and mismanagement of client funds. The situation escalated because many clients reported paying high fees for annual investment reviews that were never conducted. Others raised concerns about poor financial advice, hidden charges, and mis-sold investment products, including pensions and ISAs. Due to the volume of complaints, the Financial Conduct Authority (FCA) is now monitoring SJP. The regulator is now committed to making sure SJP adheres to consumer duty standards and compensates the affected clients.
Can I make a claim if I no longer have a St. James’s Place account?
Yes. Even if you are no longer an SJP client, you may still be eligible for compensation. Claims can be made for past mis-selling, hidden charges, or fees you paid without receiving service.
How long does the St. James’s Place claims process take?
Most claims are resolved within 3 to 6 months, but complex cases may take longer. Our team will handle everything and keep you updated throughout the process.
Can I make a St. James’s Place claim myself?
Yes, but the process can be complex. We handle everything for you, ensuring the best possible outcome. Our team gathers the necessary evidence, submits your claim, and negotiates directly with SJP on your behalf.
Can you provide an example of St. James’s Place overcharging?
In 2023, it was revealed that SJP faced over 15,000 claims from clients who were charged for annual investment reviews that never occurred. For example:
Suppose you’ve invested with SJP, and your contract said you would receive annual financial check-ins as part of your ongoing management services. After a few years, you have noticed that your portfolio was not being reviewed, yet your account is continuously charged for this service. When you contact SJP, you are told that your adviser has left, and no substitute has been arranged. You later discover that you’ve been paying thousands for a service that never happened.
These are valid grounds for St. James’s Place overcharging claims.
Can you provide an example of St. James’s Place’s hidden charges?
It’s been reported that in 2023, SJP investors had £2 billion trapped in a suspended property fund. Despite being unable to access their investments, they continued paying high management fees without transparent disclosure. For example:
Let’s say you invested in an SJP-managed fund to grow your retirement savings. When you check your account, you notice hidden deductions reducing your returns. Later, when you try to withdraw your money, you’re shocked to find a 6% exit fee that wasn’t clearly disclosed. You also discover ongoing service charges were taken directly from your investment without your knowledge.
These are valid grounds for a St. James’s Place hidden charges claim.
Can you provide an example of St. James’s Place’s investment mis-selling?
In 2019, fourteen former footballers sued SJP for £15 million, alleging they had been mis-sold tax avoidance schemes linked to film and overseas property investments. They argued the advice led to significant financial losses.
Imagine you are a low-risk investor looking for stable growth for your savings. Your SJP adviser recommends a high-risk overseas property fund, assuring you it is a safe investment with guaranteed returns. A few years later, the investment loses 40% of its value, and you find out that accessing your money will cost you heavy withdrawal fees. You later realise the investment did not match your risk profile, and you were mis-sold a product that was never right for you.
These are valid grounds for St. James’s Place mis-selling claims.
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William Thornley
from Bolton
received
£21,400
compensation from Halifax
Alan Burke
from Bolton
received
£34,800
compensation from Santander
Why choose us?
- Hassle-free process.
- No lengthy paperwork to complete.
- Your own dedicated claims expert.
- Claims settled within 8 weeks on average.
Speak to our friendly experts
If you feel you've been let down by your bank or financial adviser please call us.
Call today 0808 163 1659
Customer Stories
We've helped thousands of people win compensation as a result of unsuitable financial advice.
I’m absolutely delighted with the service we got from Goodwin Barrett, I couldn’t believe how easy it was and i’ve nothing but praise for them
This was an excellent result which my wife and I never expected. My sincere thanks to you for such an excellent achievement, I cannot thank you enough
After sending a report to Santander, they agreed with our findings and awarded Mr Snowden an amount of £7,000 made up from a refund of the losses together with interest and compensation.
This was a fantastic result I never expected. My sincere thanks for such a prompt and efficient service.
I am so grateful to your company but especially to Steve Wise for getting me the money back
We reported our findings to Halifax and within a matter of weeks had secured our client the sum of £26,700 in compensation.
After we sent a detailed complaint to Halifax, Fred was delighted to receive £6,916 from the bank in a matter of weeks.
Having investigated the complaint Lloyds TSB agreed that the advice was unsuitable and agreed to pay the clients £10,000.
Figures shown are before the deduction of our fee.