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 of investment in growing the partnership, building the distribution capabilities in Asia and a c...