St James's Place results lay bare cost and charging challenges ...

In its 2023 full year results published today (28 February), the advice giant revealed it had made a £426m provision to refund clients for ongoing advice charges. On the back of the announcement, shares this morning had slumped more than 30%. The provision follows what the wealth manager admitted was "a significant increase in complaints" particularly in the latter half of last year it said were "mostly linked to the delivery of ongoing servicing". The firm added its 2023 cash result of just under £68m was "significantly impacted" by its investigations into this. St James's Place s...