SJP recruits bank advisers following market 'disturbance'

The firm, which grew partner numbers by 8% last year after adding 130 advisers, has continued at a similar rate in the first quarter, according to CEO David Bellamy - after attracting more IFAs and former bank advisers. Almost all UK banks have announced swathing cuts to their advice propositions, citing costs incurred by the Retail Distribution Review. Most recently, HSBC announced it would cut more than 1,000 staff from its wealth management arm. "The FSA said bank [adviser numbers] was down 4,000, and that was large banks and other institutions pulling out of the market," Bellam...