St James's Place unveils cost-cutting plan to save £100m annually by 2027

As part of its ‘save to invest' strategy

St James's Place is planning significant cost reductions over the next two years as part of a "save to invest" strategy.

According to its half-year results published today (30 July), the wealth management firm aims to achieve annual savings of £100m by 2027. By 2030, it anticipates total savings of £500m, with half of that amount being reinvested into the business. The FTSE 250 firm posted net inflows of £1.9bn, a decrease from £3.4bn in the same period of 2023, yet the firm revealed record funds under management of £181.9bn and a 3% net increase in its client base to 988,000. St James's Place overhauls fee structure after regulatory pressure SJP chief executive Mark FitzPatrick said he was "encourag...