Editor's view: Wizards in Cirencester as SJP bounces back

The editor's Friday Night Takeaway from 2 August

Jen Frost
clock • 1 min read

Gloucester-based IFAs, did you see any wizards en route to Cirencester this week?

If so, they may have been on the way to wrestle the elixir of life back from St James's Place (SJP). Scandal-smashed SJP bounced back into action on Tuesday, with its share price rising 25% on news of a massive cost-cutting endeavour.  The revival follows a tragic rather than magic few months in which the wealth management giant took a stock market pummelling. A key driver of that pain, last February it stashed aside more than £425m to pay back clients who may not have received advice they paid for. Some of that staggering sum will be recouped from partner firms. In an investor ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Companies

AJ Bell launches £50m share buyback scheme as pre-tax profits rise 22%

AJ Bell launches £50m share buyback scheme as pre-tax profits rise 22%

AJ Bell reported an 18% increase in revenue and profit before tax was up 22%

Eve Maddock-Jones
clock 04 December 2025 • 2 min read
What The Private Office's sale tells us about the state of adviser dealmaking

What The Private Office's sale tells us about the state of adviser dealmaking

TPO is 'back out on the market eyeing up a deal'

Justin Cash
clock 03 December 2025 • 4 min read
Clifton Wealth Partnership snaps up Welsh advice firm

Clifton Wealth Partnership snaps up Welsh advice firm

Lifestyle Financial Advice joins with £75m in assets

Isabel Baxter
clock 02 December 2025 • 2 min read