St James's Place

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.

Fraudsters based in Belgium have used the Financial Services Authority (FSA) register details of a St James's Place partner to dupe consumers.

Wealth manager St James's Place is considering a discretionary fund management (DFM) offering to land high net worth (HNW) clients.

Profits at wealth manager St James's Place (SJP) rose in the first six months of the year, helped in part by a record quarter for new business.

Funds under management at wealth manager St James's Place have hit a record £31bn.

Wealth manager St James's Place (SJP) has reported a 30% rise in profits for 2011.

Fund launches reached a decade low last year as groups held back new products in the face of market volatility.

Financial services group St James's Place (SJP) recorded a 13% increase in sales to £154m in the third quarter, it said today.