SJP said Dynamic Planner’s ability to reflect SJP’s existing risk categories was an essential factor in the decision.
Wealth manager St James’s Place has partnered with Dynamic Planner to add new client risk profiling services for its advisers.
SJP said Dynamic Planner’s ability to reflect SJP’s existing risk categories was an essential factor in the decision.
The risk profiling capabilities will be available to all of SJPs 4,800 advisers and 7,500 support staff under the deal.
John O’Driscoll, divisional director of business development and advice at St James’s Place, said the collaboration demonstrates the firm’s commitment to delivering quality, long-term, one-to-one advice and supporting its advisers with advanced technology.
He said: “Dynamic Planner’s reputation and shared values around one-to-one advice, combined with their commitment to empowering advisers through the latest technology, makes them the ideal partner as we continue to enhance our adviser proposition.”
Dynamic Planner claims to be the UK’s leading digital advice platform. Founded in 2003, its risk-based system combines Financial Planning technology with an asset risk model. It is also used by asset managers to risk profile and target over £280bn of investments.
Over the past year SJP has been hit by a rising number of client complaints around the suitability of advice.
The Financial Ombudsman Service (FOS) received 485 new complaints about wealth manager St James’s Place in the first half of 2024 - almost double the previous half year - despite total complaints for the pensions and investments sectors falling.
The majority of complaints against SJP in H1 2024 were about investment (196 complaints) and decumulation life and pensions (280 complaints).
Between 1 July and 31 December 2023 SJP saw 250 new complaints, with the majority related to investments (93) or decumulation life and pensions (145).
Despite the rise in complaints, last week SJP reported that funds under management soared in 2024 to hit a new report of £190.2bn.
According to a recent report from Autus, SJP is the largest financial advice firm in the UK in terms of number of advisers (5,174) followed by Openwork (2,859) and Quilter (1,241). SJP saw a net gain of 52 registered financial advisers since June 2024 and now has 3,216 appointed representative firms.
