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The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Financial Services

St James Place complaints to dominate trading update

St James Place will be hoping it can soon draw a line under the surge in customer complaints about the wealth manager's charges.

Analysts are not certain it will be able to, not yet anyway, with a prediction by one broker recently that a £426 million provision is likely to be around half the amount finally required.

St James’ share price is down by around two-thirds over the past year, underlining the market’s nervousness and the costs issue will dominate next week’s update.

Longer-term, Canadian bank RBC remains optimistic about St James's Place's future, citing the resilience and attractiveness of its partnership model.

The firm's strategic initiatives under new chief executive Mark Fitzpatrick were commended for positioning the business for sustainable leadership in the increasingly regulated UK wealth market.

How well those initiatives are doing will be something else to note.

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