You may be due a refund or compensation worth thousands… even if your investment has performed well.
Britain’s biggest wealth manager, St. James’s Place (SJP), made headlines in 2024 after announcing it had set aside £426 million to compensate customers who paid for services they allegedly did not receive.
Millions of pounds in financial adviser fees are being deducted from UK investors’ ISAs, pensions and investments yearly.
St James’s Place has set aside more than £400 million for refunds to clients like you who have invested in ISAs, pensions, and other investments since 2013.
In 2012, the regulations changed, and Advisors were required to build into investment charges for work that they undertook on your behalf. The charges were applied regardless of whether your Advisor fulfilled their regulatory duties to you or not.
Each time the advisor failed to meet their duties they were breaching their agreement with you and consequently you may be entitled to compensation.
If you used St James’s Place in the last 10 years, yes!
You may have paid Ongoing Advice Fees without realising and could be due compensation. Join the thousands of customers who have already checked today.
More than 100,000 people who used SJP’s services over the past ten years could be eligible for a payout. This represents more than 10 percent of the FTSE 100 firm’s customers.
Many of those have yet to begin the claims process, says law firm Pacific Legal, one of the UK’s leading specialist litigators, which assists clients who have been misled or taken advantage of by financial institutions.
Since 2013, it has represented thousands of people who invested in ISAs, pensions, and other financial products via SJP and Quilter—another major wealth manager currently compensating its customers.
Following regulatory changes in 2012, nearly all investment and pension products now include adviser charges, which are deducted annually to cover services such as regular portfolio reviews.
According to the 2012 regulations, clients receiving financial advice should have their portfolios regularly reviewed to ensure that the recommended products remain suitable.
SJP clients were charged an automatic annual fee of 0.5 percent of their assets in exchange for these reviews. However, SJP is accused of failing to provide them. This charge was a minimum fee and many were charged more.
Lawyers from Pacific Legal argue that any client who did not receive a yearly review should receive a refund. They add that the customer may be eligible for compensation if an adviser can’t justify the charges or provide documented evidence of annual reviews.
Step 1: Select “Get Started” below
Step 2: Answer a few questions on our claim calculator
Step 3: Let Pacific Legal do all the hard work
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You may be eligible to make a claim if you were a customer of St. James’s Place over the past ten years and paid for services, such as annual reviews, that you did not receive. This may include clients who invested in ISAs, pensions, or other financial products through SJP.
The compensation relates to charges that were automatically deducted from clients’ investments for services that may not have been provided, such as ongoing financial advice, portfolio reviews, or investment monitoring. If these services were not delivered, you could be entitled to a refund of these fees, plus interest.
If you were charged for ongoing advice or portfolio reviews and did not receive these services, you may be eligible for compensation. Our team request all of the relevant information from SJP to help assess your case and determine if you’re entitled to a payout.
The amount of compensation varies depending on the fees you were charged and the duration over which you were not provided the promised services. In some cases, clients could recover a significant percentage of the fees paid over several years.
Most of the time, no documents are needed to be able to start your claim. All we need is your Name and Telephone Number. Of course, where documentation or any relevant communication can support your case, you should try and provide to your case representative. Pacific Legal will guide you through the process at all times.
Yes it’s possible to pursue a claim against SJP on your own without any cost and with recourse to the Financial Ombudsman Service. However, we find that many people choose to use Pacific Legal because of our considerable experience and expertise in handling such cases. Our ability to navigate the complexities of such claims can provide you with invaluable guidance and peace of mind that you will receive all the compensation that you are rightfully due.
The claims process can vary in length depending on the complexity of the case and the volume of claims being handled. On average, claims may take between 12-16 weeks to resolve, but we will keep you updated throughout the process.
No, Pacific Legal operate on a no-win, no-fee basis. This means you won’t need to pay any upfront costs, and you will only pay a fee if your claim is successful.
Even if you no longer have an adviser or are no longer a client of SJP, you may still be eligible for compensation if you were previously charged for advice or services you did not receive.
There is no strict deadline, but we recommend submitting your claim as soon as possible to ensure it is processed in a timely manner. Certain regulatory time limits could apply depending on when the fees were charged.
To start your claim, simply fill out the online form or contact us at 0141 2806 227. Our team will guide you through the process and help you gather the necessary documents to assess your eligibility.
If you are currently working with a financial adviser, they should provide evidence of the services you received. If they cannot justify the fees you were charged or provide proof of ongoing services like annual reviews, you may be eligible for compensation plus interest.
No, making a claim will not impact your current investments. The claims process focuses on recovering fees for services that were not provided, and it does not interfere with the performance or structure of your investment portfolio.
Even if you were satisfied with some aspects of SJP’s service, you may still be entitled to a refund if you were charged for ongoing advice or portfolio reviews that you did not receive.
If your claim is unsuccessful, you will not be charged any fees. Our no-win, no-fee guarantee ensures that you only pay if your claim is successful.
Pacific Legal specialises in financial claims and has a proven track record of successfully representing clients against major financial institutions. We have the expertise, resources, and experience necessary to navigate complex financial disputes and ensure our clients get the compensation they deserve.