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We receive a number of clients from St James’s Place each year. For those who don’t know St James’s Place, they are a large provider of Pension and Investment products. Sadly, I’ve seen a recurring trend of low performing funds coupled with extortionately high fund charges. An article this week from the Daily Mail reports on a customer’s pension fund that’s actually in debt comes as no surprise.

“In August, Paul rang St James’s Place to find out how much the fund was worth and received a horrifying reply: there was nothing left. Every penny had been eaten up in eye-watering charges levied by the company over the years.” 

The Daily Mail article, written by Ruth Lythe, goes on to explain how the client paid as much as £130 one year, 10% of his pension fund.

Read the full article here.

Below you can sign up for our free Second Opinion Service and we can ensure your investment plan is on track. Also If you have any friends or relatives invested with St James’s Place please don’t hesitate to point them our way. 

Are your financial adviser fees outstripping your pension growth? MFP Wealth Management

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