SJP

The swell of new regulation in financial services "frightens" people away from seeking financial advice, while the proliferation of various fee structures is proving a "nightmare" for those who do engage, according to St James's Place CEO David Bellamy....

Lloyds Banking Group is set to sell a further 12% stake in wealth manager St James's Place (SJP) for £390m, according to reports.

St James's Place has paid out £1.25m in compensation and redress to clients after uncovering evidence of serious misconduct by former partner Christopher Bladen.

GOSLING'S GROUSE

Wealth managers and asset managers have led the pack in early morning trading after a number of companies delivered positive updates to the market.

Old Mutual Global Investors' Richard Watts has doubled his stake in St James's Place (SJP) since the start of the year, arguing the firm has emerged as one of the biggest RDR winners.

Taube Hodson Stonex Partners (THS) is launching a retail share class for its flagship £592m International Growth and Value fund, after parting company with St James's Place (SJP) late last year.

St James's Place (SJP) has given a rare insight into its ability to negotiate aggressively with fund managers.

Tied wealth manager St James's Place has sent its advisers guidance on how best to describe its restricted service.