SJP looks to raise up to £1bn to buy out partner businesses - reports

Internal succession planning model

St James’s Place (SJP) will look to raise up to £1bn by 2030 in order to buy out the businesses of its retiring partners.

Speaking to The Financial Times, the advice giant's chief operating officer, Iain Rayner, said the business had seen pressure from higher interest rates. According to the report, buying the books of retiring advisers has become significantly less appealing to younger advisers within the network due to interest rates and regulatory pressures. SJP tackles shareholder dissent over executive pay There are 2,622 partner firms with the SJP network and around 4,800 self-employed financial advisers working within them. "We have been thinking about how we increasingly employ equity along...