St James’s Place readies redundancies in cost-cutting push Investing St James’s Place is set to make around 500 redundancies next year as part of its sweeping cost-cutting plan, according to reports. Around a sixth of the wealth manager’s non-financial adviser workforce are set to be laid off in February, an internal memo, seen by Citywire, revealed. Over the summer, St James’s Place revealed it [...]
St James’s Place continues exec shakeup with new chief risk officer Investing St James’s Place has continued its shakeup of senior staff with a new chief risk officer as Britain’s biggest wealth manager works to rebuild credibility. Chief risk officer Mark Sutton, who had worked at the firm for the last seven years, represents the third executive to depart in just over a year. A St James’s [...]
St James’s Place: More changes in mandates to come, CIO says Investing There will continue to be a significant shake-up in who manages some of the biggest funds at the UK's largest wealth manager, the chief investment officer of St James's Place has told City AM.
St James’s Place ditches manager of lagging £9.9bn fund October 22, 2024 St James’s Place has ditched one of the managers of a struggling £9.9bn fund as Britain’s biggest wealth manager looks to recover from a troubling year and deliver more value for its customers. Impax, which has co-managed St James’s Place Global Quality Unit Trust since 2021 alongside five other investment houses, has been dropped by [...]
St James’s Place: More inflows for UK’s biggest wealth manager October 17, 2024 St James’s Place recorded net inflows of £890m over the three months to 30 September, continuing the strong pace of inflows that Britain’s biggest wealth manager has enjoyed over 2024. The company’s retention rate stayed at 94.6 per cent, though the wealth manager has yet to finish axing its controversial exit fees. Gross inflows were [...]
St James’s Place: Most of our funds are failing to deliver value on performance September 27, 2024 In total, 30 of the 39 funds run by St James’s Place were deemed to be lagging in their performance according to the company’s latest Assessment of Value report. Asset managers are required to publish an Assessment of Value report annually by the Financial Conduct Authority, where they must assess their funds on seven different principles with [...]
St James’s Place: How high fees hide the wealth manager’s real performance August 28, 2024 Investors who want to know how a St James’s Place fund compares to any other vehicle in the market have a problem: they just can’t do that. Traditionally, funds can be compared by taking into account the performance of their assets, minus the fees on the fund, and comparing that with other funds in their [...]
St James’s Place takes on Vanguard, but charges 350 per cent more August 13, 2024 St James’s Place is no stranger to high fees. Britain’s largest wealth manager has been pilloried for its high costs, from its controversial exit fee (now being phased out) to the high fees on its pension funds. Now, St James’s Place has earned a new accolade and a new issue with fees. The group’s Polaris [...]
I thought you were dead: St James’s Place shocks analysts July 30, 2024 A scandal forced St James's Place to set aside a staggering £426m to pay out refunds to customers, leading many analysts to question whether the firm could survive the crisis. But today that narrative completely flipped.
St James’s Place shares soar as inflows smash expectations July 30, 2024 Shares in St James's Place soared today after it reported a bump in inflows for the first half of the year, which were well above what analysts expected.