Among the conclusions of the article:
SJP’s expensive alternative pushes customers into a closed market where they can sell expensive funds as advisers are free to ignore cheaper or better alternatives. We were shocked that a quarter of the advisers we saw didn’t admit they weren’t IFAs.
With several advisers not telling people what they’d charge – and in other cases providing low estimates, our investigation suggests it’s near impossible to make an informed decision when comparing your local SJP adviser to alternative options.
http://www.which.co.uk/news/2017/07/exclusive-wealth-manager-st-jamess-place-misleading-customers-on-charges/
About time the FCA came down hard on these cowboys and spivs I'd say.
I'm not holding my breath though.