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

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...