St James’s Place is close to becoming a member of Apfa, Money Marketing understands.
SJP has been in talks to join the trade body since October.
Money Marketing understands SJP directors have attended recent Apfa council meetings and are thought to be close to making a decision to join the trade body.
The firm had previously stated it would not look to join the redefined trade body when it rebranded to allow restricted advisers in November.
Membership is not open to single-tied advisers.
SJP marketing director Tony Dunk says: “There are many trade bodies within financial services and we talk to a large number of them.
“The RDR is creating many interesting developments and we are considering whether membership of Apfa, or
any other trade body, would be appropriate in the future.”
Apfa director general Chris Hannant says: “We are here to represent the whole of the advice sector and to provide
a unified voice for that sector. Any advice firm that meets our membership criteria is welcome.”
Restricted national Openwork joined Apfa in April.