St James's Place

Lloyds has put a 20% stake in wealth manager St James's Place up for sale, the bank confirmed this afternoon.

St James's Place has broken its silence over its sacking of Taube Hodson Stonex Partners (THS) after a twenty-year relationship.

St James's Place (SJP) saw profits rise 23% in 2012 compared with the previous year, thanks in part to higher income from funds under management, which again were a record for the business.

UK equity income managers, including Artemis' Adrian Frost, are stepping up their quest for the next generation of dividend payers as the London market's leading stocks disappoint.

The £1.2bn St James's Place Equity Income trust, managed by RWC's Nick Purves, has been kicked out of the IMA UK Equity Income sector for failing to meet the minimum yield target.

David Bellamy, the chief executive of St James's Place (SJP), has said the business is "well positioned" to reap the benefits of the trading environment introduced since RDR as he revealed assets under management had reached record levels.

The UK's biggest advice firms have been accused of failing to adequately inform potential clients whether they provide independent or restricted advice.

Lloyds' potential sale of its St James's Place (SJP) stake could be a landmark moment for the bank but the outlook for the wealth manager is less clear, according to investors and analysts.

Lloyds Banking Group is hoping to raise £1bn from the sale of its 60% stake in St James's Place Wealth Management(SJP), according to reports.

Wealth manager St James's Place (SJP) has stepped up recruitment activity ahead of implementation of the Retail Distribution Review (RDR) and on the back of the withdrawal of some advisory firms from the market.