Exclusive: SJP drops ‘Wealth Management’ in brand refresh

Claire Blackwell, Director of Marketing at SJP

St James’s Place (SJP) fired the starting pistol for a revamped brand image—the first upgrade since the company was founded in 1991.

money marketing I knew the company would be giving up the “wealth management” part of its name to better communicate its offering.

The logo has been redesigned and will be published first on the company’s website and social media channels.

It will take 18 to 24 months or more for the full transition of the SJP program to the new format as it aims to reduce the waste of existing materials.

SJP announced the move to the “community” of partners, employees, and the support function team this morning.

CEO Andrew Croft, along with Managing Director Ian Gascoigne, who will step down at the end of March, and Director of Marketing Claire Blackwell broke the news.

Today was supposed to be the company’s annual meeting, where the group meets in person, but due to the pandemic, it has held a private broadcast instead to focus on this topic.

The company’s broader meeting is now expected later in the year.

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SJP is also educating clients to “update its brand identity” in the annual wealth account statements sent to partner clients as of today.

“We’ll tell people why and what we’re making the changes,” Blackwill said. money marketing.

She added: “I think it’s really important for our customers to learn to trust the new text tag – there’s a new logo coming out and throughout the year it will start to fall back on customer data as they go through people’s mailboxes or inboxes.

“One of the things I make sure to avoid is that no client understands this change and wonders who they are writing to, so we started a big client outreach project.”

SJP will celebrate their 30th autography This year’s anniversary says this is the first time the company has undergone a brand update.

“It’s absolutely amazing to a lot of people that we’re in our 30s — or 30s — because most of them assume that SJP has been around for much longer,” Blackwill said.

“We’re not Coutts and I think we need to represent ourselves as a younger brand. In 30 years, SJP hasn’t really gone through such an exercise.

“It was a start with three people and someone went to pick a logo. We started as the J Rothschild Assurance Group and obviously moved that to St James’s Place in 2000. But there was a name, a logo, a drive, a passion, a purpose and a culture.

“And this business has grown so dramatically over those 30 years. But I think it was so exponential that there wasn’t necessarily time to say, ‘What do we want to look and look like consciously?’ It kind of happened. And what happened is that what we look and look like In the market is not really who we are.”

She said the company started a “broad project” two years ago to define and articulate what the company wants to be for customers and partners and where it wants to be in 10, 20 or 30 years.

“The brand drives a lot of these things.” The company felt it didn’t want to release the update this time last year as there was “a lot of uncertainty” externally. But while there are still doubts in the world today, he generally feels “more optimistic”.

These changes express our strong heritage and reflect our strengths as an inclusive, responsible and contemporary company. When you start seeing our new look, I hope you feel as optimistic as I am about the future.

– Andrew Croft CEO, St James’s Place

Appreciating to some people why it took two years, Blackwell said, “We’re a FTSE 100, we’re a big company and we’ve never done this before. It all takes time but in equal measure not to be wallpapering over the cracks kind of thing it takes.” From us refer through the proposal to everyone.”

SJP has chosen to work with design agency Landor & Fitch for the project. While Blackwell wouldn’t rely on the exact cost of updating the brand, she did hint that it “may be a lot less than people think.”

But she admitted, “Whatever the cost, I think there will always be people who will criticize her.

“It’s not a huge advertising campaign, so it’s really not a magic number.”

She added, “When you hear about branding, or rebranding, or recovery, or whatever – the money isn’t really what we’ve done so far. It gets expensive on implementation.

“We have decided that we will carry out business as usual.”

Blackwell said the time frame foreseen in the future was “a bit daunting” for the director of marketing, but the “big bang approach” would have been too costly.

“It would take years of project management to coordinate this and it would lead to a lot of waste.”

Why was the “wealth management” part of the name dropped?

Claire Blackwell, SJP Marketing Director, said: money marketing: “There are two fundamental changes we’re making. We’re moving from St James’s Place Wealth Management to St James’s Place – so the name hasn’t changed, but we’ve dropped the Wealth Management descriptor.

“It has been baffling for a lot of clients for us to be a wealth manager as well as a partner to a wealth manager.

“We want to be clear to clients that a wealth manager is their partner or advisor, and we’re kind of the driver behind that, and we support it.”

She added, “The other thing is that wealth management is a totally loaded term. I think a lot of people don’t consider themselves wealthy enough to need a wealth manager, while I think most people need to get advice.”

So, dropping that term — ‘Does it make us more accessible? “I hope so.” “Does that mean more people are getting advice?” I hope so.

“Plus, it’s much cleaner and neater and I don’t think we need wealth management up front. But what I must make clear is that I think it is right for many companies in the UK to call themselves wealth managers.”

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