SJP Client money notice
As a firm which is both authorised and regulated by the Financial Conduct Authority (FCA), St. James’s Place Investment Management Limited is required to comply with the rules prescribed in the FCA Handbook. The handbook details rules on handling both client assets and client money.
Banks Used by St. James’s Place Investment Management Limited for holding Client Money
Please note that St. James’s Place Investment Management Limited maintain Client Money accounts with:
- Bank of New York Mellon
- Bank of Scotland Plc
- Barclays Bank Plc
- Lloyds Bank Plc
- National Westminster Bank Plc
If you hold client money with us, the amount held will form part of the compensation limit for any claim you make under the Financial Services Compensation Scheme (FSCS) and should be considered alongside any other cash holdings you have.
For more information please refer to the FSCS website at https://www.fscs.org.uk/ .
Rate change with effect from 1 January 2026
With effect from 1 January 2026, the rate of interest paid by St. James’s Place Investment Management Limited on cash balances will reduce from 1.7% to 1.6% gross.
Interest will be calculated on daily balances and paid quarterly in arrears, within five working days of the end of the quarter. Individual products, such as General Investment Accounts, ISA and JISA accounts, will be treated separately for the purposes of calculating and paying interest.
Interest will be paid on cash balances held in GBP, EUR, USD, SGD & AUD subject to a de minimis of 1 currency unit, e.g. £1, €1, $1 etc. Interest will be paid on all products where a balance in either stock or cash is held at the end of the quarter.
As interest is paid gross, it is your responsibility to report and pay any tax due under self-assessment to HM Revenue and Customs (HMRC) or any other relevant tax authority.