• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Wealth management

SJP launches internal review of its incentives structure

SJP launches internal review of its incentives structure
  • Hannah Godfrey
  • 09 September 2019
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

St James's Place (SJP) has launched an internal review of its incentives and recognition structure.

An internal memo sent to partners at the firm from SJP CEO Andrew Croft (pictured), and seen by Professional Adviser, explained the review will include all its incentives and events, including overseas partners' business meetings.

Related articles

  • St James's Place overhauls work perks after pressure
  • FCA probes 'rogue' SJP adviser
  • St James's Place refuses to pay compensation for 'rogue adviser'
  • SJP to repay client £75,000 over rogue adviser scheme

It said: "To maintain and strengthen our lead, we must continue to modernise how we do things for our clients through the technology and solutions we offer, our brand and our social contribution.

"All in all, it is about the way we do things as a business overall and with that in mind, we have decided to launch an internal review into our incentives and recognition structure. We need to make sure that it reflects our culture and is fit-for-purpose in the fast-changing industry we operate within and is driving the outcomes that we, and our clients, value most."  

The news was first reported by The Telegraph and follows a stream of articles that appeared in the Sunday Times in recent weeks criticising the advice giant.

On Sunday (8 September), The Sunday Times ran an article from an anonymous former SJP adviser, who worked at the firm for a decade.

The article claimed he was under pressure to "sell" the firm's products from the first day of his employment, and at the peak of his earnings was making £250,000 before bonuses. He looked after some £70m for around 700 clients.  

The lavish rewards given to top performing SJP advisers listed in The Sunday Times' article included 18-carat white gold, diamond-encrusted cufflinks worth around £1,200, a conference with guest speakers that have included Bill Clinton and a week-long overseas conference, for which the firm would charter planes to take its people out to where a luxury cruise liner would be at the company's disposal.

 

Subscribe to International Investment's free, twice-daily, newsletter 

This article was first published by Professional Adviser, a sister title to International Investment.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Wealth management
  • SJP
  • St James Place
  • UK

More on Wealth management

Jupiter shakes off £4bn outflows as Merian deal drives AuM to record high

  • Wealth management
  • 26 February 2021
Majority of Singaporeans forced to reduce savings due to pandemic: research

  • Wealth management
  • 24 February 2021
HSBC AM unveils new alternatives investment team

  • Alternative
  • 17 February 2021
UAE's new trusts law designed to 'support wealth management sector'

  • Wealth management
  • 11 February 2021
Quilter Financial Adviser School to offer digital courses

  • Wealth management
  • 11 February 2021
Back to Top

Most read

EU removes Barbados from blacklist of 'non-cooperative' jurisdictions
EU removes Barbados from blacklist of 'non-cooperative' jurisdictions
Global UHNWI population to grow by 27% over the next five years: Knight Frank
Global UHNWI population to grow by 27% over the next five years: Knight Frank
J.P. Morgan Asset Management launches Global Income Sustainable Fund
J.P. Morgan Asset Management launches Global Income Sustainable Fund
Comment: Four key issues powering the renewable energy revolution
Comment: Four key issues powering the renewable energy revolution
Amati Global Investors launches strategic metals fund
Amati Global Investors launches strategic metals fund
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading