SJP trainee adviser banned and fined after lying about qualifications

Fined £34,000

A former St James's Place (SJP) trainee adviser has been banned and fined by the FCA after lying about his qualifications and forging documents that suggested he had passed the necessary exams to advise clients.

Alexander Stuart was fined £34,000 by the Financial Conduct Authority (FCA) and banned from performing regulated financial activity after his actions came to light. Between 2014 and 2016, the regulator said, Stuart misled SJP and the Chartered Insurance Institute (CII) by claiming he had passed the various exams needed to obtain a level 4 qualification. On 4 April 2014, Stuart was approved by the FCA to perform the CF30 controlled function at SJP due to his relationship with Clearwater Wealth Management (CWM), an appointed representative of the advice giant. FCA fines UK arm of Int...