Wealth manager St. James's Place reserves £426m for potential client refunds amid surge in complaints.

Wealth manager St James's Place (SJP) has set aside £426m to cover potential client refunds after receiving a surge in customer complaints. The company, which charges for "ongoing advice services", is now assessing if it provided these services to customers over the last six years. SJP shares fell 18.6% following the announcement, which also included a cut to its dividend.

February 28, 2024
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