{"id":1318,"date":"2023-10-29T07:22:02","date_gmt":"2023-10-29T07:22:02","guid":{"rendered":"https:\/\/robdix.com\/?p=1318"},"modified":"2023-10-29T07:22:05","modified_gmt":"2023-10-29T07:22:05","slug":"fees","status":"publish","type":"post","link":"https:\/\/robdix.com\/fees\/","title":{"rendered":"Two reasons to be careful who you give your money to"},"content":{"rendered":"\n
The other week, shares in the UK\u2019s biggest wealth manager (holding \u00a3150 billion of client funds) fell by more than 20% in a single day. Why? <\/p>\n\n\n\n
Suspected fraud? Accounting scandal? No\u2026 a report that the UK regulator might force it to scrap the exit fees it charges its customers. <\/p>\n\n\n\n
People have complained about the fees of St James\u2019 Place (SJP) for years, and this latest drop prompted me to take a closer look. <\/p>\n\n\n\n
I\u2019m far from an expert. But I quickly found 2 reasons I wouldn\u2019t give them my money\u2026 <\/p>\n\n\n\n
SJP only invests client money in actively managed funds. These are funds where clever people pick shares that they believe will perform better than average, rather than following the \u201cpassive\u201d approach of just owning a bit of everything. <\/p>\n\n\n\n