SJP advice arm sees losses despite £700m in adviser fees

Earned £743m in adviser charges

clock • 2 min read

Advice giant grew broker number to 3,954 (8%) during 2018

The advice arm of St James's Place (SJP) again saw losses during 2018 despite attracting more than £700m in fees, the firm's annual results have revealed. The results, published this yesterday (27 February), showed the advice arm of the financial services giant reported a £38.9m loss in 2018, up from the previous year's £31.9m loss. Accoring to SJP, the distribution business's loss included "the positive gross margin arising from advice income less payments to advisers" offset by the costs of investment in growing the partnership, building the distribution capabilities in Asia and a c...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Adviser / Broking

PDG announces 2025 sponsors

PDG announces 2025 sponsors

Reframe Cancer and Space on board

Cameron Roberts
clock 18 February 2025 • 1 min read
Advisers say documenting advice conversations takes "significant" time

Advisers say documenting advice conversations takes "significant" time

Findings from The Exeter

Jaskeet Briah
clock 14 February 2025 • 1 min read
Spreading the love

Spreading the love

Protection this Valentine’s Day

Setul Mehta
clock 14 February 2025 • 4 min read