Wealth managers St James’s Place sets aside £426m for client refunds
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Wealth manager St James’s Place said it has set aside £426 million potentially to refund clients who were not provided with the services they should have been. St James’s charges for “ongoing advice services” but it is now having to assess whether it actually provided these services to customers over the last six years. It added: “We recognise that this is a disappointing outcome for everyone.” “Looking forward, the investment we’ve made into Salesforce means we are confident this is a historic issue.” Shares in St James’s Place fell by a little under a third after the news.
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