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St James Place and ICAEW

Can you refer clients?

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I have a couple of clients who deal with a local St James Place practice for investment advice. They (the practice) are keen on me referring more of my clients to them. I seem to recall this wasn't permitted by ICAEW rules as they are not independent. Is this still the case? 

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By David Ex
30th Jul 2021 20:53

Aside the link that pb has provided, what have you to gain from a referral vs what you have to lose?

Even if you had personal experience of SJPC, that is, at best, historic. Who do you think the client will be bad mouthing if he’s not happy with what SJPC do?

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Replying to David Ex:
Slim
By Slim
30th Jul 2021 21:43

Locally they have a shockingly bad reputation.

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Replying to Slim:
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By Not Anonymous
30th Jul 2021 23:57

Slim wrote:

Locally they have a shockingly bad reputation.

Reputation for high charges and 6 year tie in.

They are also financial advisors, not independent financial advisers which would (should) put most people off.

https://www.sjp.co.uk/charges/pensions-charges

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By Matrix
30th Jul 2021 22:21

They are not permitted to introduce anyone to you so it wouldn’t be reciprocal.

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By bernard michael
31st Jul 2021 09:53

I thought they only recommended St James' products. Hardly independent, which is what clients want

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