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Chartered champion Hill sets up her own business after leaving SJP

by Rachael Revesz on Dec 07, 2012 at 10:35

Chartered champion Hill sets up her own business after leaving SJP

Susan Hill, one of the Personal Finance Society chartered champions for London, has set up an IFA firm after leaving St James’s Place (SJP).

Hill (pictured) has launched Susan Hill Financial Planning, which is an appointed representative of the Sense network. She said that due to the terms of her contract with SJP, she was starting her new business with no clients, but that this had its benefits.

‘I have a rather long restrictive covenant from SJP, so I am starting my new business with no clients. But in a way this has its benefits because I don’t have to deal with legacy issues,’ she said.

She added she would continue to have a focus on advising female clients. ‘It’s hugely satisfying to empower women to manage their own money and to see them flourish, for many after a life-changing and traumatic event,’ she said.

9 comments so far. Why not have your say?

John Frink

Dec 07, 2012 at 10:48

Good for you, anyone that is worthy of the chartered name should be giving fee based independent advice.

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Paul Howard via mobile

Dec 07, 2012 at 11:13

It amazes me that people willing sign contracts when they get no doubt huge amounts of cash to do so - yet are ultra negative when they leave?

If the covenant wasn't wanted or liked - don't sign it!

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Dolores Chimichanga

Dec 07, 2012 at 11:39

Blimey Paul I think you are being a bit harsh here! I don't think Susan is moaning but just stating facts. Good luck to her in her new venture.

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Dave

Dec 07, 2012 at 11:48

Would agree with Dolores, and Susan has probably sold her SJP business to them for a rather splendid sum and can now go out into the brave new world without having any legacy baggage......

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Jonathan Kirby

Dec 07, 2012 at 11:54

This is probably the first positive thing to come out of RDR and good luck in the brave new world of independent advice.

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Phil Castle

Dec 07, 2012 at 12:07

I thought she left SJP in 2010? FSA register says she was at Syndaxi in 2011 and then Raymond James and SCM Private LLP.

Is the article wrong or the FSA register?

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Chris Geeson

Dec 07, 2012 at 12:39

Phil are you suggesting smoke and mirrors and a bit of free advertising for her next new business or have I got too used to reading between the lines.

I imagine the FSA register is one of the few things that is usually correct but you never know, or do you???????

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Phil Castle

Dec 07, 2012 at 12:50

@ Chris - Not at all, I don't even know the lady, I just often look at the FSA register when someone I don't know is quoted in the article as it is interesting to see what their history is and it looked at odds with the artice, so I thought I'd ask why.

Restrictive covenants are very sad as they do nothing for the client, who ultimately have usually chosen the adviser and NOt the firm, so to be restricted from using their chosen adviser looksta odds with TCF.

I thought restrictive contracts were only enfoceable by the courts for about 12 months max anyway (not withstanding the issue of NOT breaching the DPA whatever the timescale)

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Man in Black

Dec 07, 2012 at 20:10

@Phil

You're right: I attended an event run by this lady (and a couple of others) in mid 2011 and she certainly wasn't at SJP then. I found her quite impressive.

In terms of post-employment restrictions, there's no hard and fast rule. The Courts will allow them only to the extent that they are reasonable for the protection of the other-sides business - and 'reasonable' is a bit contextual. There's a difference on how such terms can restrict an ex-employee adviser working in London v the vendor of a successful advisory business in a small town...it may be that if there was deferred consideration involved, the covenant runs as X months from the final payment...

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