St James's Place hatches £1bn plan to buy out retiring advisers By Jessica Clark Updated: 16:52 EST, 15 December 2023 e-mail View comments St James's Place (SJP) is planning to raise up to £1billion to buy the business of retiring partners. The FTSE 100 wealth management company comprises 2,600 partner firms staffed by 4,800 self-employed financial advisers who trade under the SJP banner. When advisers retire, their books are sold to remaining partners using bank loans that are guaranteed by SJP. The practice allows the wealth manager to retain clients when financial advisers leave. But rising interest rates mean it is becoming…
