Modified on: November 2026

St James’s Place Charges Explained (2026): What You Pay on £250k, £750k and £1.5m

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Woman in her mid 50s checking a paper statement at home, with the title: SJP’s charges explained, in pounds

At a glance

Since 26 August 2025, St James’s Place (SJP) shows its charges in four parts: an initial advice charge, an ongoing advice charge, a product charge and a fund charge.
The initial advice charge is 3% on the first £250,000, 2% on the next £250,000 and 1% above £500,000.
Each year you then pay 0.80% for advice, a product charge of 0.17% to 0.35%, and a fund charge. Most SJP funds charge 0.09% to 0.69%.
SJP’s own example is 1.67% a year in total for a pension in its Polaris 3 fund, or 1.59% in an ISA.
On £750,000 in a pension, that is about £15,000 upfront and £12,450 a year (illustrative).
With us, the same £750,000 would typically cost nothing upfront and about £10,050 a year, including platform and fund costs (illustrative).

St James’s Place changed how it charges in August 2025. The new charges are clearer than before, but they are still made up of several parts. That makes the total hard to see in pounds.

This guide turns SJP’s published rates into pounds, at the sizes our clients typically have. If you already hold money with SJP from before August 2025, see the section on older money below.

Table of Contents

The four parts of SJP’s charges

Charge	What it pays for	Rate
Initial advice charge	Advice when you invest	3% on the first £250,000, 2% on the next £250,000, 1% above £500,000. SJP says this may vary as agreed with your SJP Partner, the SJP adviser you deal with.
Ongoing advice charge	Ongoing advice and reviews	0.80% a year
Product charge	Running the pension, bond, ISA or unit trust	Pensions and bonds: 0.35% a year, falling to 0.25% for large amounts. ISAs and unit trusts: 0.27%, falling to 0.17%.
Fund charge	Managing the investments	0.09% to 0.69% a year for 95% of SJP funds. The Polaris 3 fund is 0.52%.

Source: SJP, “Our charges explained” (approved 2 April 2026). These charges apply from 26 August 2025.

The product charge falls as the total you hold with SJP rises. SJP works out the tier on everything you hold across its products, then spreads the discount evenly across your accounts.

Amount held with SJP	Pensions and investment bonds	ISAs and unit trusts
First £500,000	0.35%	0.27%
Next £500,000	0.32%	0.24%
Next £1 million	0.29%	0.21%
Next £1 million	0.27%	0.19%
Over £3 million	0.25%	0.17%

Source: SJP, “Our charges explained”. Product charge per year.

There are also transaction costs inside the funds, from buying and selling investments. SJP publishes estimates for each fund. They are not included in the figures below.

What SJP’s charges cost in pounds

These examples are illustrative only. They assume new money paid into an SJP pension in the Polaris 3 fund. Charges are worked out on the full amount, with no growth. ISA figures are a little lower because the product charge is lower.

	£250,000	£750,000	£1,500,000
Initial advice charge (once)	£7,500	£15,000	£22,500
Ongoing advice charge (0.80%)	£2,000	£6,000	£12,000
Product charge	£875	£2,550	£4,800
Fund charge (Polaris 3, 0.52%)	£1,300	£3,900	£7,800
Total each year	£4,175 (1.67%)	£12,450 (1.66%)	£24,600 (1.64%)
First year, including the initial charge	£11,675	£27,450	£47,100

Illustrative only. Rates from SJP’s published charges. The 1.67% total at £250,000 matches SJP’s own Polaris 3 pension example.

On £750,000, the initial advice charge alone is £15,000. If the value stayed the same, ten years of ongoing charges would add up to about £124,500. With growth, the pounds would be higher, because the charges are a percentage of the value.

St James’s Place and Frazer James charges, side by side

Enter an amount to compare SJP’s published charges on new money with our fees, in pounds.

Amount invested (£)

Account

SJP fund charge (%)

Illustrative only, not advice. Charged on the full amount with no growth. Excludes transaction costs.

St James’s Place: rates from “Our charges explained” (approved 2 April 2026), for new money since 26 August 2025. 0.52% is SJP’s Polaris 3 fund; most SJP funds charge 0.09% to 0.69%. SJP says the initial charge may vary as agreed with your SJP Partner. The product charge tier is set by your total across SJP products.

Frazer James: advice fee from our Terms of Business. Platform and investment costs are typical figures: platform 0.10%, funds 0.25% and discretionary fund manager (DFM) 0.09%. Yours will depend on what is recommended, and we show them in full before you decide. Below £500,000, a drawdown fee of £500 a year also applies if you take income from your pension.

If you joined SJP before August 2025

Before 26 August 2025, SJP pensions and investment bonds worked differently. There was no upfront charge. Instead, an early withdrawal charge applied if you took money out in the first six years. It started at 6% and fell by one point a year.

Money paid in before that date keeps those terms until its six-year period ends. It then moves onto the charges above. ISAs and unit trusts had an initial charge of up to 5% under the old structure, and no early withdrawal charge.

Our guide to leaving St James’s Place explains how to check whether any of your money still carries a charge, and when it ends.

Restricted advice and what it means for these charges

SJP advisers give restricted advice. That means they recommend from SJP’s own range of products and funds. This is a matter of public record, not a criticism.

It means the product and fund charges above are always SJP’s. With an independent adviser, those two parts depend on the platform and funds chosen for you from the whole market.

How to compare SJP with another adviser

Ask every adviser for the same four numbers, in pounds, for your money. These are the upfront charge, the ongoing advice fee, the platform or product charge, and the fund charges. Then add them up for one year and for ten.

Frazer James’s fees, for comparison

We charge nothing upfront: no initial plan fee and no set-up fee. Our ongoing advice fee is tiered, with a minimum of £3,000 a year. The full scale is on our fees page.

Total charges over ten years

SJP, including its initial chargeFrazer James

£250,000 investedAbout £5,750 less with us

SJP

£49,250

Frazer James

£43,500

£750,000 investedAbout £39,000 less with us

SJP

£139,500

Frazer James

£100,500

£1,500,000 investedAbout £77,500 less with us

SJP

£268,500

Frazer James

£191,000

Illustrative only, not advice. A pension with no growth, so with growth the pounds would be higher on both sides. Your own charges may differ.

	£250,000	£750,000	£1,500,000
Upfront fee	£0	£0	£0
Ongoing advice fee each year	£3,250	£6,750	£12,500
Typical platform cost each year (0.10%)	£250	£750	£1,500
Typical fund and DFM costs each year (0.34%)	£850	£2,550	£5,100
Our typical total each year	£4,350 (1.74%)	£10,050 (1.34%)	£19,100 (1.27%)
SJP total each year, from the table above	£4,175 (1.67%)	£12,450 (1.66%)	£24,600 (1.64%)
SJP initial advice charge (once)	£7,500	£15,000	£22,500

Illustrative only, for a pension with no growth. Our advice fee: 0.50% plus a £2,000 retainer below £500,000; 0.90% from £500,000 to £1 million; then 0.70% on the next £1 million. Platform, fund and discretionary fund manager (DFM) costs are typical third-party charges. Yours will depend on what is recommended, and we disclose them before you agree anything.

At £250,000 our typical yearly cost is a little higher than SJP’s, at £4,350 against £4,175. That is because of our £2,000 retainer. SJP’s £7,500 initial charge still leaves us about £5,750 cheaper over ten years. Above about £275,000 in a pension, our typical yearly cost is lower as well.

Questions to ask about your SJP charges

What did I pay as an initial charge, in pounds?
What do I pay each year, in pounds, split into advice, product and fund charges?
Does any of my money still carry an early withdrawal charge, and until when?
Which product charge tier am I on?
What does my ongoing advice charge include, and when was my last review?

Talk to a certified financial planner

A second opinion, at no cost

Would you like an independent view on what you pay and what you get for it? Our second opinion on St James’s Place plans is free and has no obligation. Sometimes the honest answer is to stay where you are, and we will tell you if it is.

Book a free first conversation or call 0117 990 2602

Frazer James is an independent firm and is not connected to St James’s Place. SJP figures are taken from SJP’s published documents as at 2 November 2026 and may change. This guide is general information, not personal advice. The value of investments can fall as well as rise.

Sources

About The Author

James Mackay

Managing Director · Certified Financial Planner · Chartered Wealth Manager

James is Managing Director of Frazer James. He advises successful professionals and business owners on how to make the most of their money, with a focus on retirement planning, tax mitigation, pension options and investing for the future.

Much of that work is tax: making full use of the allowances available and planning ahead for inheritance tax. You’ll also see James in our videos.

Read James’s full profile · More articles by James · Our financial planning service

Frazer James Limited is authorised and regulated by the Financial Conduct Authority, FCA number 834451.

About The Author

James Mackay

On a day-to-day basis, James advises successful professionals & small business owners on how to make the most of their money. His area of expertise includes retirement planning, tax mitigation, pension options, and investing for the future.

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Frequently asked questions

What does St James’s Place charge?

Since 26 August 2025, SJP charges in four parts. There is an initial advice charge (3%, 2% then 1% in tiers) and an ongoing advice charge of 0.80% a year. Then there is a product charge of 0.17% to 0.35% a year and a fund charge, which is 0.09% to 0.69% for most SJP funds.

Is St James’s Place’s ongoing charge 0.80%?

0.80% is the ongoing advice charge only. Product and fund charges are added on top. SJP’s own example puts the total at 1.67% a year for a pension in its Polaris 3 fund, or 1.59% in an ISA.

What is the St James’s Place initial charge on £500,000?

£12,500. That is 3% on the first £250,000 (£7,500) plus 2% on the next £250,000 (£5,000). SJP says the amount may vary as agreed with your SJP Partner.

Did St James’s Place change its charges in 2025?

Yes. The new charges apply from 26 August 2025. The main changes were an upfront initial advice charge on new pension and bond money instead of an early withdrawal charge, and product charges that fall for larger amounts.

How do I compare St James’s Place with another adviser?

Ask each adviser for four numbers in pounds for your money: the upfront charge, the ongoing advice fee, the platform or product charge and the fund charges. Add them up for one year and for ten. Our second opinion does this for you at no cost.