St James Place

St James Place

St James's Place shares fall 30% as it takes £426mn provision for UK wealth manager under fire from regulators over fee structure

St James Place, a UK wealth manager, has seen its shares plummet by 30% following the announcement of a £426 million provision for potential compensation claims. The company has come under fire from regulators over its fee structure, with concerns raised about the transparency and fairness of its charges.

The news has sent shockwaves through the financial industry, with investors and clients alike expressing their dismay at the scale of the provision. St James Place now faces a challenging road ahead as it seeks to rebuild trust and confidence in its services amidst increasing scrutiny from regulators and the public.