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

Ed Bailey to lead Openwork Business School

Ed Bailey to lead Openwork Business School

Succeeds Helen Longland

Jaskeet Briah
clock 13 February 2026 • 2 min read
Financial advice should be added to workplace benefits – report

Financial advice should be added to workplace benefits – report

PIMFA Leading Lights Forum findings

Jen Frost
clock 13 February 2026 • 2 min read
Reassured partners with FOIL AI on non-disclosure

Reassured partners with FOIL AI on non-disclosure

Analysing medical data with insights from calls

Jaskeet Briah
clock 11 February 2026 • 2 min read