St James’s Place has revised its Business Sale and Purchase (BSP) scheme, introducing a digital tool for faster client data access and business valuations. The changes aim to smooth client transitions when advisers leave or retire, addressing past criticism over service gaps. Mark Fitz Patrick, CEO, highlighted improved data sharing and conflict management, while the firm also revamped its charging structure and now provides quarterly updates on loan terms.
Consumer advocate Robin Powell cautioned that the overhaul may primarily benefit SJP by retaining assets internally. Meanwhile, adviser Robin Sanders emphasized client choice in adviser selection. The updates are part of a broader tech revamp under Fitz Patrick, as partner firms like Prospera and Wellesley exit the network.
Source: Financial Times Companies · Summarized by HeadlinesBriefing