Ex-SJP adviser: 'Anger over cruise cancellation unsurprising'

SJP reviewing incentives

Hannah Godfrey
clock • 3 min read

A former St James's Place (SJP) adviser was unsurprised to hear its advisers were reportedly kicking up a fuss after their annual cruise was cancelled

On Sunday (13 October) The Sunday Times ran a story that alleged advisers at SJP had threatened to stop selling investments for the rest of the year unless they were compensated for the loss of their annual cruise holiday. SJP used to reward its ‘top performing' partners - those who sold the most of the firm's products - with a luxury week-long cruise. Following several articles by The Sunday Times, however, the firm's chief executive Andrew Croft launched a review into the incentives and remuneration structure at the firm, and the cruises were consequently axed. According to a former...

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

FCA warns of Rosemount clone

FCA warns of Rosemount clone

Fraudsters targeting individuals

Isabel Baxter
clock 11 November 2024 • 1 min read
COVER Protection and Health Summit 2024: Afternoon roundup

COVER Protection and Health Summit 2024: Afternoon roundup

Product updates and core skills

Cameron Roberts
clock 11 November 2024 • 4 min read
SBG acquires stake in New Homes Mortgage Services

SBG acquires stake in New Homes Mortgage Services

Undisclosed sum

Jaskeet Briah
clock 08 November 2024 • 1 min read