UK wealth adviser St James's Place has broken ranks with its rivals by agreeing to compensate clients for losses they have incurred on their investment in AIG's enhanced money market fund, as a result of the credit crisis.

St James's expects to make them a goodwill payment totalling £6.9m which will be calculated by reference to the fallen value of their investment in April 2009. SJP's client assets in the AIG fund are £69m against its total value of £5.7bn.