Wealth Management

SJP returns to profit after ongoing advice hit

UK’s largest wealth manager racks up £60m of costs as it overhauls fee model

London-listed wealth manager SJP has posted a share price recovery over the last year Hollie Adams/Bloomberg via Getty Images
London-listed wealth manager SJP has posted a share price recovery over the last year Hollie Adams/Bloomberg via Getty Images

St James’s Place has returned to profit after being caught out by the Financial Conduct Authority’s ongoing advice review and an overhaul to its charging model.

The UK’s largest wealth manager posted a £398.4m profit after tax in 2024, up from a £9.9m loss in 2023.

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