SJP Historic review of ongoing service charges
In February 2024, we announced that we would be conducting a review of historic servicing. This has involved actively reviewing our records to ensure clients received the services from their adviser that they paid for. If for some reason they didn’t, or we can’t find evidence that they did, we’re going to refund the ongoing servicing charges.
The process for determining which clients may have been affected and who may be due a refund is ongoing. We will be contacting all the impacted clients as part of this process.
If you feel you may be affected and would like to be included in the review, please complete and submit the form on this page.
You do not have to use a Claims Management Company (CMC) or law firm to help you with our investigation, or any other matter relating to your plans with SJP. You can contact us directly and if you are entitled to redress, you will receive the full amount of any payment due without any of it going to a CMC. While CMCs and law firms can act on your behalf – they often simply take your information and pass it to SJP to investigate. They might not charge up front, but they may take up to 30% in fees from any refund or compensation that you are offered.
We are in the process of reviewing our records to ensure clients received the ongoing advice services from their adviser that they paid for. If we find that for some reason they didn’t receive the right advice services we’re going to refund the associated charges.
Before we can provide any refunds though, we need to understand which clients may have been affected for which periods. The process of gathering all the information we need to identify any periods where the ongoing advice service hasn’t been delivered has begun. We hope that you understand, an initiative of this size and complexity will take a while for us to develop, so please do not be alarmed or concerned if you do not hear from us immediately. Ensuring the right outcome for our clients is our main priority, so the work we are doing before engaging with you again is to ensure your situation is looked at with the appropriate level of detail and our findings are as accurate as possible.
If you have completed the form, your enquiry will have been captured and recorded so you do not need to take any further action at this point. We will be in touch again as soon as we are able to provide you with more detail on the next steps. We will also be updating our website regularly with detail of progress of the overall project should that be of interest to you.
SJP is now actively engaging with impacted clients. Impacted clients will be contacted via a letter, which will come from Simeon Pollard, Head of Division, Client Remediation. These letters contain instructions on how to take part in the review, should clients wish to do so. We anticipate this period of contacting clients to continue through 2025.
Once contacted, if you have any questions or concerns about the review, or you wish to make a complaint, please don’t hesitate to get in touch. Our team is available to help, and you can call on us 0800 694 0458 or +44 203 975 6128 if calling from abroad.
Work is continuing across the relevant internal systems to analyse data held within client records. This work will enable us to identify those clients who will be affected by the review. We anticipate this process to continue throughout 2024.
A pilot programme has been launched to collect evidence and begin the refund process with a very small number of clients whose concerns are wholly aligned to the historic review. These clients include those who have pre-registered for the review via our website, or through our Client Liaison team. In addition, a dedicated call centre has been set up to respond to queries. This can be reached as follows:
UK dialled number
0800 694 0458
Overseas dialled number
+44 203 975 6128
