Have you been a client of St James’s Place for your pension or investments at any time since 31 December 2012? If you have been, then you could be due what may amount to thousands in compensation!
Even if your investments have done well, A wealth manager who manages your investments can only charge you a “fair value” for the services they perform for you. That requirement applies to every year that they provide services to you. If in any year they have failed to provide any service or fair value for the level of services agreed, this should be refunded with interest.
In early 2024, St James’s Place, (SJP) which controls about £168 billion of customer funds, realised there may be valid legal claims for refunds of charges and have set aside £426 million for making compensation payments to those customers who have been affected.
Your investments may have performed well, but that is not the point. St James’s Place (SJP) may have taken fees from your investments that they shouldn’t have.
Historically, SJP has operated an automatic ‘opt in’ model regarding their ongoing fee charges, which you may not have been aware of. The effect of this opt in is that you were automatically charged for services such as an adviser review whether you received one or not. The fee SJP charges is based on a percentage of the funds they manage for you, so the fees they have deducted from your investments in the past can often be considerable.
Money and Me Solicitors Ltd will aim to recover these fees for you, plus interest. SJP are aware of the problem and have set aside £426 million pounds to compensate those affected.
We make the process really easy for you. You start by taking less than a minute to complete our ‘Quick Eligibility Checker’. Just a few simple questions to see if you may be one of those customers who may be eligible to claim.
From here, we will do the rest. If you allow us to conclude the claim through to a conclusion, you will only have to pay us a fee from the funds we recover for you. So, rest assured, there are no upfront fees for you to pay.
As a specialised claims company and now a niche Solicitors Practice, the team at Money and Me have won thousands of financial claims and millions of pounds in compensation for clients in the pensions and investment mis-selling sector, therefore we know what we are doing!
Don’t hesitate, click now to find out if you may be eligible to claim……….
Some common questions
How do I know if I may be eligible to make a claim?
Just complete Eligibility Checker and see the results. It’s that simple.
How long will it take?
We will first check the paperwork you have, or we will obtain from SJP and then if we believe you still have a claim, we will lodge a complaint seeking compensation. SJP has a normal time period of 8 weeks to respond to that claim. If they don’t agree, we can take the next step which has varying time frames. We expect to resolve most complaints within 4-6 months.
Can I do this myself and how much compensation will I receive?
Of course, you can try and make a claim yourself for free or use us or another representative. In terms of compensation, that depends on how we will calculate your loss plus interest, which we will base on the extent to which SJP has legally failed to provide the service as required. By way of example, we may establish from our legal assessment of the paperwork that you did not receive the level of service required for 6 of the 7 years that you were with SJP. If in those years, you have paid a total of £8000.00, we would claim that sum on your behalf together with the interest from the date of payment of each of those annual payments. We are aware of a story that was recently reported in the media, of a man who told the newspaper that he had paid close to £10,000.00 to SJP over 7 years. The man was adamant that he had not had any contact from SJP “apart from yearly generic update letters.” In response, SJP said their records showed that the man had received annual reviews with notes suggesting changes in circumstances were discussed. If that man is right and SJP are found to have failed to provide the service required, he may recover the £10,000.00 back plus interest. The claim could be substantial.
What do you charge to provide your legal service to me?
Don’t worry, if you allow us to act on our No Win No Fee basis through to the conclusion of any claim, we only take our fee from the compensation we recover for you. We take a percentage of the compensation which we will agree with you in advance. If on conclusion of our claims process, no compensation is recovered, you do not pay us anything at all.