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Ongoing Advice Fees FAQs

We hope this section will help to answer any questions you may have. If you’d like to discuss your eligibility for a claim or if you have any other queries, please call one of our expert claims advisers, who would be happy to help.

What is the basis of my claim?

The majority of investments with wealth brands such as St James’s Place carry Ongoing Advice Fees. These fees are taken to pay for annual reviews with your Financial Adviser, but these reviews rarely take place as they should. If you haven’t seen your adviser every year in the last 10 years its highly likely you will be due a refund of these fees, this could amount to thousands of pounds.

What is the process?

We can usually get your claim completed in one phone call with one of our expert advisers and then you can sit back and let AMK Legal take up your case.

Do you need any paperwork from me?

Any paperwork you have will speed up the process but is not always essential. We can usually get what we need from your investment provider.

What happens after you get my signed claim forms?

We will start the process of gathering all the information we need to assess your case. Once this information has been reviewed we will send your claim to your investment provider or financial adviser.

How long does it all take?

Once we have sent your claim we would usually have a final decision within 4 to 6 months.

What if my claim is rejected?

If your claim is rejected and AMK Legal consider it is an unfair decision we will take your case to the Financial Ombudsman Service on your behalf. If AMK Legal believe such a referral would be unsuccessful you have the right to take your case to the Financial Ombudsman Service yourself. If we consider legal action is needed we will advise you accordingly.

Will I be treated differently if I make a claim?

No. Making a claim will in no way affect your relationship with your investment provider.

How much compensation might I get?

That will really depend on the specifics of your case but our average refund is £4,200*. Our advisers will make sure that any offer is made in accordance with the rules laid down by the Financial Ombudsman and Financial Conduct Authority. Take a look at our Customer Stories page for examples of how much we have reclaimed for our clients.
*1st Sep to 31st Dec 2023

How will you keep me updated?

We will contact you at various points throughout the process. This contact will be via SMS text message, email, letter or by telephone.

Can I make a claim myself?

You do not need to use AMK Legal to make this claim – you can do this yourself free of charge with your investment provider or financial adviser and if your claim is unsuccessful you can pursue this with the Financial Ombudsman Service.

What are your fees?

We do not charge any upfront fees. If we are successful in getting you a refund, the money will be paid into AMK Legal Client Account. We will then deduct our fee and pay the remaining balance directly into your bank account within 7 days.

Compensation Amount Our fee 40% plus Vat – total 48% You would be left with
£1000 £480 £520
£3000 £1440 £1560
£10000 £4800 £5200

The above fee illustration is not to be taken as an estimate of the amount likely to be recovered for you.

Why should I use AMK Legal?

We have a proven track record in settling claims for Ongoing Advice Fees and are the leading law firm specialising in this type of claim. Every month we submit thousands of cases and are successful in reclaiming millions of pounds for our clients. Our expertise means we don’t just claim back your fees, we investigate the suitability of the actual investment you took out. If you lost money, we will fight to get back your losses on the basis that the advice may not have been suitable for you. Our claims advisers have the necessary expertise to put together the strongest possible case, giving you the chance of reclaiming potentially thousands of pounds.

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