A St James’ Place compliance officer has decided to change tack and set up his own financial advice business through the firm’s academy.
Alex Alton, who has been with SJP for three years in its Bristol office, took to LinkedIn to look forward to his new wealth management company that would offer “full financial advice.”
Alton wrote: “I have recently made one of the biggest decisions of my life. After over 8 years in the financial services industry, I have decided to leave my role in an employed environment and set up my own wealth management company, offering full financial advice.”
Alton’s business will operate as a SJP partner firm offering restricted advice. Alton said he would be “laying the foundations” for the firm over the coming months before starting trading.
Alton was previously a personal banking adviser and then relationship manager at Santander.
The number of advisers at SJP has been steadily increasing in recent years, with a 3.7 per cent increase so far this year taking numbers over 3,500. It is also hiring through the academy programme, but the firm has come under criticism for awarding advisers performance perks based on the amount of business they write.
Standard Life’s restricted national advice firm 1825 recently hired SJP senior partnership development manager Mark Tootill to bolster its presence in the North East.