SJP: We get Woodford for 35bps

St James's Place (SJP) has given a rare insight into its ability to negotiate aggressively with fund managers.

SJP CEO David Bellamy told Investment Week sister title IFAonline the firm is able to gain access to managers in its panel of 30-odd funds for around half the price of a retail platform. Standard Life and Skandia have negotiated post-RDR deals on Neil Woodford's Income and High Income funds that mean total annual management charges of 71bps and 68bps for Standard Life and Skandia respectively. By contrast, Bellamy said SJP has access to the manager (pictured) - who runs the UK High Income and Invesco Perpetual Managed mandates - at a cost of 35bps. "It is a big advantage to us, and...