SJP looks to spend up to £1bn to buy out partner businesses — reports

Internal succession planning model could be set for a radical overhaul

Hope Coumbe
clock • 1 min read

St James’s Place (SJP) will look to raise around £1 billion in order to buy out the businesses of its retiring partners, according to a report.

Speaking to The Financial Times, the advice giant's chief operating officer said the business had seen pressure from higher interest rates. According to the report, buying the books of retiring advisers has become significantly less appealing to younger advisers within the network due to interest rates and regulatory pressures. There are 2,622 partner firms with the SJP network and around 4,800 self-employed financial advisers working within them. "We have been thinking about how we increasingly employ equity alongside debt to help with succession planning," Iain Rayner said. "Prov...

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

Gallagher joins amii

Gallagher joins amii

Employee benefits consulting

Jaskeet Briah
clock 31 March 2025 • 1 min read
COVER Summit North 2025: In pictures

COVER Summit North 2025: In pictures

Event gallery

COVER
clock 28 March 2025 • 1 min read
Simplybiz names Tom Hegarty as CEO

Simplybiz names Tom Hegarty as CEO

Marks second stint at Fintel

Jenna Brown
clock 27 March 2025 • 1 min read