P A R T N E R S I N M A N A G I N G Y O U R W E A L T H

W H AT I T M E A N S T O B E A C L I E N T

ABOUT US

THE STRENGTH OF THE PARTNERSHIP

OUR INVESTMENT MANAGEMENT APPROACH

BENEFITS OF OUR APPROACH

WHAT OUR CLIENTS THINK

HOW DO WE COMPARE?

APPENDICES

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9

12

17

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C O N T E N T S

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A B OU T M Y P R AC T I C E

• Part of the award-winning St. James’s Place Wealth Management

• Face-to-face wealth management advice designed to suit your individual long-term requirements

• Access to a wide range of products and services that can be tailored specifically to your needs, making it easier and simpler for you to manage your wealth

• Everything from pension and Inheritance Tax planning, through to investment management that offers direct access to many of the top fund management teams across the globe

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• A leading UK wealth management organisation

• Founded in 1991

• A FTSE 100 company with a market capitalisation of c.£5 billion

• £65.6 billion client funds under management

• Over 2,320 Partner Practices within the St. James’s Place Partnership

• Supported by over 1,000 employees

All information as at 30 June 2016.

A B OU T S T. J A M E S ’ S P L AC E

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• We are committed to helping clients manage their wealth in a way that reflects their personal circumstances now and in the future

• We put our clients firmly at the centre of everything we do

• We provide face-to-face wealth management advice clients can trust

• We are a financially strong group; solvent, profitable and with the resources, capital, people and expertise to support clients

• We underwrite our advice with a guarantee*

* St. James’s Place guarantees the suitability of the advice given by members of the St. James’s Place Partnership when recommending any of the wealth management products and services available from companies in the group.

OU R C OV E N A N T

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OU R A DV I C E G U A R A N T E E

‘‘

’’

We guarantee the suitability of the advice given by members of

the St. James’s Place Partnership when recommending any of the wealth management products and services available from companies in the Group,

more details of which are set out on the Group’s website at

www.sjp.co.uk/products.

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• Long-term face-to-face provision of high quality advice from a highly qualified financial adviser you can trust

• The security of knowing the advice is backed by a guarantee* provided by a FTSE 100 company

• A business model that includes succession planning, ensuring our clients have support and service over the years to come from their adviser and from us

• Annual and online Wealth Account

• High quality specialist pensions, tax and trust advice

• Ongoing management of investments by leading global investment professionals

• Regular investment updates

• Monitoring by the St. James’s Place Investment Committee

• Fund manager monitoring and assessment by Stamford Associates, Redington and other respected independent consultants

The value of an investment with St.James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.* St. James’s Place guarantees the suitability of the advice given by members of the St. James’s Place Partnership when recommending any of the wealth management products and services available from companies in the group.

W H AT W E P ROV I D E

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T H E S T R E N G T H O F T H E PA R T N E R S H I P

Partners

4%

5%

2%

17%

23%

12%4% 4%

21%9%

• They are called Partners because of the way they work in partnership with you

• Over 2,320 Partner Practices play the leading role in delivering our wealth management service

• Some of the most experienced and able professionals working in wealth management today – average industry experience of c.18 years

• Proven track record

• Professionally qualified (Diploma and above)

• Exclusive access to St. James’s Place investment approach and services

• Supported by specialist technical and compliance professionals

• Focussed on maintaining long-term relationships

T H E S T. J A M E S ’ S P L AC E PA RT N E R S H I P

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Overseas Partners: 3%

• How will you choose an investment manager?

• How safe are your investments? (And how will you know?)

• How will your investments be monitored, and by whom?

• Which individual is managing your money?

• Who is monitoring them?

• What would you do if they changed jobs and how would you know?

• When is a good time to invest?

• When should you say ‘no’?

• Governance – who is on your Investment Committee?

There are some important questions we think all clients need to carefully consider when it comes to investing:

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise.

You may get back less than the amount invested.

W H AT I S YOU R I N V E S T M E N T M A N AG E M E N T A P P ROAC H ?

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O U R I N V E S T M E N T M A N A G E M E N T A P P R O A C H

Appoints the fund managers

Sets performance objectives

Risk management and strategy

Decisions: Change firm?

Change manager?No change?

‘MANAGES THE MANAGERS’

Peter Dunscombe

Davina Curling

Win Robbins

Steven Daniels

‘INDEPENDENT EXPERTISE’THE

INVESTMENT COMMITTEE

OU R A P P ROAC H T O I N V E S T M E N T M A N AG E M E N T

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Peter Dunscombe

Previously Chief Investment Officer of the BBC Pension Fund advising on investment

strategies and portfolio development. Non-executive member of the investment

committees of The Pensions Trust and Reed Elsevier

Pension Fund.

Davina Curling

Non-executive director of Invesco Income Growth Trust and board member

of BlackRock Greater European Trust. Former

Managing Director at Russell Investments.

Win Robbins

Trustee Director of Now Pensions Trust. Trustee

for Landesbanken Baden– Wuerttenberg Pension Fund. Director of City

Merchants High Yield Trust.

Steven Daniels

Chief Investment Officer of Tesco Staff Pension Scheme and Investment Committee member of the Alzheimer’s

Society. Former Group Chief Investment Officer

at Liverpool Victoria Friendly Society.

I N D E P E N D E N T G U I DA N C E A N D E X P E RT I S E

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Research fundmanager market

Access towhole market

Monitor managersand Portfolios

Qualitative andquantitative

Advise InvestmentCommittee

Focus on futureoutperformance

• Analyse and identify talented managers

• Gather intelligence

• Data analysis• Monitor activity• Workplace analysis

Recommend:• Potential changes• New managers

INDEPENDENT INVESTMENT CONSULTANCY

S TA M F O R D A S S O C I AT E S A N D R E D I N G TO N :

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GLOBAL INVESTMENT MANAGEMENT EXPERTISE

36 funds

69 lead fund managers

36 fund houses

17 exclusive to UK retail investors

• No in-house managers, so no conflict of interest

• Benefit from Investment Committee experience & expertise

• Global research capability

• Ability to appoint the best fund managers with wholesale purchasing power

• Continuous monitoring, plus quarterly reviews

• Any manager change is implemented for all clients at the same time at no additional cost and no tax implications

• No capital-intensive products, performance guarantees, options or overly complex, fashionable or high risk funds

• A fair representation of the market across a number of product areas

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise.

You may get back less than the amount invested.

B E N E F I T S O F OU R A P P ROAC H

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*Although our advice is restricted to the products and services available through St. James’s Place, we take responsibility for the due diligence on all the providers whose products and services we make available to our clients, some of which are shown below.

W H O L E O F M A R K E T * A P P ROAC H

SIP SERVICES

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• 83%1 are highly satisfied with their relationship with St. James’s Place – a third scoring us 10 out of 10

• 81%1 are highly satisfied with the relationship they have with their adviser

• 88%1 agreed that we provide excellent client service

• 82%1 are satisfied in the way in which we communicate with them

• 97%2 have recommended or would recommend St. James’s Place to others

• 84%1 would definitely invest with St. James’s Place again if making that decision today

1 Research carried out by Ledbury Research (600 surveyed) – November/December 2014. Scoring 8 or more out of 10. 2Wealth Account Survey (47,000 responses) – January 2015.

W H AT OU R C L I E N T S T H I N K

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‘‘My Partner has done an excellent job, particularly when my husband passed away. I didn’t know what I was doing so he was very good... he gave me advice and helped me stay in the right direction.’’

‘‘I’m just totally happy. I wouldn’t recommend them to other people if I weren’t. Recommendations can backfire, so you have to know it’s good.’’

‘‘What they’ve got right is their rapport with their clients – it’s on the right level. I work with another financial company and they seem a bit condescending, whereas St. James’s Place has the right balance.’’

‘‘I find it an excellent company and the Partner is first class. I’ve got no problems with them. He’s got a very good attitude, he’s friendly, he comes round and visits when we ask. I honestly couldn’t ask for anyone better.’’

*Client survey carried out by Ledbury Research – December 2013.

W H AT OU R C L I E N T S S AY A B OU T U S *

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‘‘Our Partner has become a personal friend through the business. We couldn’t praise him highly enough.

He has saved us a lot of money; he has done exactly what you would expect. We can discuss any problems we have with him; he is always available to us. He has never steered us wrong.

This also goes for St. James’s Place – they go hand-in-hand.’’

* Client survey carried out by Ledbury Research –November 2011.

W H AT OU R C L I E N T S S AY A B OU T U S *

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2016• Pension Firm of the Year – Financial Directors’

Excellence Awards• Best Private Client Investment Manager –

Wealth Adviser Awards• Wealth Management Company of the Year –

City of London Wealth Management Awards

2015• Pension Firm of the Year – Financial Directors’

Excellence Awards • Top in Sector – Britain’s Most Admired Companies• Best Wealth Manager for Inheritance Tax and

Succession Planning – FT/Investors Chronicle• Best Wealth Manager for Trusts – FT/Investors

Chronicle• Best Financial Adviser – Personal Finance Awards

• Best Private Client Investment Manager – Wealth Adviser Awards

• Wealth Management Company of the Year – City of London Wealth Management Awards

2014• Best Wealth Manager for Tax Efficiency and

Advice – FT/Investors Chronicle• Best Financial Adviser – Personal Finance Awards • Best Pension Providers’ Fund, UK Equities –

Money Observer Pension Fund Awards • FTSE 100 Business of the Year – National Business

Awards Finalist• Best Performing Fund – City of London Wealth

Management Awards • Best Private Client Investment Manager –

Wealth Adviser Awards

AWA R D -W I N N I N G W E A LT H M A N AG E M E N T

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AWA R D -W I N N I N G W E A LT H M A N AG E M E N T

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H OW D O W E C O M PA R E ?

• We aim to provide a quality service which exceeds our clients’ expectations; a long-term relationship with a trusted financial adviser supported by a financially-strong company.

• We have clear and transparent charges and make this information available to clients before concluding business, so that they can judge how to value our service.

H OW D O W E C O M PA R E ?

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Whilst often well-intentioned, the move to improve transparency and provide numerous choices for clients makes comparison very difficult.

For example:

• energy tariffs – gas, electricity, dual fuel, peak, off-peak etc.

• mobile phone – phone, line rental, texts, data

• broadband – fixed cost, usage costs, data costs

• car finance – loan, hire purchase, personal contract hire, personal contract purchase

T R A N S PA R E N T I S N O T C O M PA R A B L E

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The table illustrates the fees a client may have to consider when trying to compare advice and products based on publicly available information for a variety of firms and providers.

T R A N S PA R E N T. . . B U T N OT S I M P L E

Advice

Initial advice fee% of initial investment

ORHourly rate (£) Rate may depend on seniority of adviser

Rate may depend on seniority of adviser

Amount may depend on activity

Tiered fee based on transaction size

Tiered fee based on amount invested + VAT

Tiered fee based on fund value

Amount based on fund value

Amount per transaction

Amount based on fund value

Amount will depend on insurance company

Amount based on value of funds under management

Amount based on value of funds under management

% of Funds Under ManagementOR

Hourly rate (£)

% of Funds Under ManagementOR

Prescribed fees (£)

% of Funds Under ManagementOR

Prescribed fees (£)

Tiered fee based on fund value

Amount will depend on platform providerAccount fee (£)Platform/Admin

Ongoing advice fee

Transaction charges

Insurance Company

Administration fee

Wrapper charges

Administration fee

Fund Management

Annual charge (%)

Annual management charges (£)

Additional miscellaneous costs

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• Wealth Manager D• Adviser A• Adviser B• Bank C• Adviser D• DFM B• Adviser C• Wealth Manager A• DFM C• DFM A

3.1% p.a.2.7% p.a.2.7% p.a.2.6% p.a.2.6% p.a.2.5% p.a.2.5% p.a.2.5% p.a.2.5% p.a.2.5% p.a.

• Adviser E*

• Adviser F• Wealth Manager C• Bank A• Adviser G• St. James’s Place• Bank B**

• Wealth Manager B• Bank D***

2.5% p.a.2.5% p.a.2.3% p.a.2.3% p.a.2.3% p.a.2.3% p.a.2.2% p.a.1.9% p.a.1.2% p.a.

*Adviser E does not accept portfolios of less than £200,000, so the level of charges shown is not available in practice. **Bank B charges calculated based on a portfolio size of £1,000,000, service no longer marketed to portfolios below £1m.***Bank D does not offer any ongoing advice service.

The figures shown have been produced by Grant Thornton, an external consultancy. They show the Reduction in Yield over 10 years for a £100,000 investment into unwrapped mutual funds (Unit Trust, OEIC or equivalent), assuming 5% p.a. fund growth. Grant Thornton has collated and computed data in the attached table from publicly available information, and some mystery shopping face-to-face meetings, as at June 2016 for use by St. James’s Place and its Partners. Grant Thornton accepts no duty of care or liability of any kind whatsoever to any other third parties, including without limitation clients or investors. Use of this report should not, and does not, absolve any third parties from using due diligence in verifying the report’s contents. The information must not be relied upon by any party in making investment decisions.

T O TA L C H A R G E C O M PA R I S O N S

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• Fully integrated face-to-face advice and service

• Full disclosure of costs associated with advice, both initial and ongoing, and our service before we do business

• Personalised illustration

• Our distinctive approach to investment management – select, monitor, change

• The suitability of advice guaranteed* by St. James’s Place Wealth Management

* St. James’s Place guarantees the suitability of the advice given by members of the St. James’s Place Partnership when recommending any of the wealth management products and services available from companies in the group.

T H E S T. J A M E S ’ S P L AC E A P P ROAC H

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• How safe is your adviser’s firm? – Berkeley Berry Birch, Inter-Alliance, Money Portal, Burns Anderson, Clarkson Hill, Park Row, Honister are examples of advice firms that have ‘failed’ in recent years.

• What resources do they have to complete due diligence on investments and products? – we often say ‘no’ to products that we deem unsuitable for our clients such as; Arch Cru, Key data, MF Global, Life Settlements, structured products.

• What succession plans are in place for your adviser?

• What technical and expert resources are available to support you?

• Is the advice you receive guaranteed?

W H O S TA N D S B E H I N D T H E A DV I C E ?

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We will:

• Fully understand our clients’ financial circumstances

• Identify our clients’ goals and objectives

• Liaise with other professionals and experts as needed

• Formulate advice and make recommendations

• Provide a full explanation of all our costs, charges and advice fees

• Provide advice backed by the St. James’s Place Advice Guarantee*

• Communicate with our clients and provide an ongoing service as agreed by them.

* St. James’s Place guarantees the suitability of the advice given by members of the St. James’s Place Partnership when recommending any of the wealth management products and services available from companies in the group.

S E RV I C E S TA N DA R D S C H A RT E R

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A P P E N D I C E S

We are an independently quoted company with a Board of Directors which in turn has a majority of Independent Non-Executive Directors

Executive Directors

David BellamyChief Executive

Andrew CroftChief Financial

Officer

Ian GascoigneManaging Director,

Partnership

David LambManaging Director,

Business Development

Chairman

Sarah Bates

Baroness Wheatcroft

Simon Jeffreys Iain Cornish

Roger Yates

Independent Non-Executives

OU R E X E C U T I V E B OA R D

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The strength of our governance is fundamental to our high standards and the longevity of our business:

• Compliance with regulatory and legal responsibilities

• Entrepreneurial leadership setting strategy, vision and values

• Ensuring strong management and succession plans

• Implementing controls to safeguard against risks

• Employing the necessary financial and human resources to deliver value to our clients

• Operating a financially strong business

• Avoiding capital intensive products, options, complex, fashionable or high risk structures

G OV E R N A N C E

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18% p.a. compound growth over the last 5 years and 17% p.a. over last 10 years (at June 2016)

F U N D S U N D E R M A N AG E M E N T£

bil

lio

n

10

20

30

40

50

60

70

02006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

June

+25%+18% -10%

+31%+26% +6%

+22%

+27%

+17%

+13%

+12%

65.6

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The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.Members of the St. James’s Place Partnership in the UK represent St. James’s Place Wealth Management plc, which is authorised and regulated by the Financial Conduct Authority.

St. James’s Place Wealth Management plc Registered Office: St. James’s Place House, 1 Tetbury Road, Cirencester, Gloucestershire, GL7 1FP, United Kingdom.Registered in England Number 4113955.

SJP4150-VR16 (10/16)