St James's Place exit fee overhaul welcomed but caveats raise concern

Impact on profitability in short term

Cristian Angeloni
clock • 4 min read

Plans to overhaul the charging structure of St James's Place from the second half of 2025 has been described as “inevitable” by the industry, largely owed to its “outdated fees”.

The plans set out will see the wealth management giant replace its highly criticised ‘early withdrawal charge', with an explicit initial charge on new investment bond and pension investments. Charges will also be separated into components - advice, product/platform and fund - to simplify the structure and make them easier to understand for clients. Mark Polson, principal of the lang cat, said the overhaul was "very much Consumer Duty in action", following reports that SJP was receiving regulatory pressure to go further with amendments to its fee structure. "Whiplash is never pleasa...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Asset managers see January optimism replaced by July nerves as outlooks shift gear

Asset managers see January optimism replaced by July nerves as outlooks shift gear

Many optimistic at the start of 2025

Patrick Brusnahan
clock 15 July 2025 • 3 min read
Maven Renovar VCT board slams 'underperforming' investment manager as saga intensifies

Maven Renovar VCT board slams 'underperforming' investment manager as saga intensifies

Board tug of war followed a strategic review

Patrick Brusnahan
clock 15 July 2025 • 2 min read
Ninety One's shares jump after positive Q1 AUM update

Ninety One's shares jump after positive Q1 AUM update

AUM up by £11.1bn in past 12 months

Sorin Dojan
clock 15 July 2025 • 1 min read
Trustpilot