St. James's Place plc
|Public limited company|
|Traded as||LSE: STJ|
FTSE 100 Component
|Headquarters||Cirencester, England, UK|
|Sir Mark Weinberg, Life President|
|Revenue||£9,082.6 million (2017)|
|£342.1 million (2017)|
|£186.1 million (2017)|
St. James's Place plc (branded as St. James's Place Wealth Management) is a UK-based wealth management business based in Cirencester, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
The business was founded by Mike Wilson CBE, Sir Mark Weinberg and Lord Rothschild in 1991 as J Rothschild Assurance Group. In 1992, the Directors of J Rothschild Assurance Group established a Charitable Foundation. The company was first listed on the London Stock Exchange in 1996.
In 2000, HBOS plc took a 60 percent shareholding in the business which became St. James's Place plc in 2006. HBOS's stake passed to Lloyds Banking Group, on its acquisition of HBOS in 2009. In March 2013, Lloyds sold 20% of its shareholding in St. James's Place to a broad base of institutional investors and sold the remaining holdings in December 2013. In March 2014, St. James's Place joined the FTSE 100 Index.
In July 2017 an investigation by Which? accused St James’s Place of misleading customers on charges. Tom Wilson, author of the article, writes, “There are legitimate reasons why costs might vary – SJP’s recommended funds have different charges, so the actual fees will depend on which funds you end up with.” The findings of the investigation were shared with the Financial Conduct Authority. The firm continues to have permission to continue to provide regulated products and services.
St. James's Place has recently expanded its financial services to Asia, with offices located in Hong Kong, China and Singapore.
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- "Lloyds sells St James's Place stake for £670m". Financial Times. 9 December 2013. Retrieved 17 March 2018.
- "Inflows at St James's Place jump almost 50%". Financial Times. Retrieved 14 April 2017.
- "Exclusive: wealth manager St James's Place misleading customers on charges". Which. 17 July 2017. Retrieved 26 April 2018.
- "Financial Conduct Authority". register.fca.org.uk. Retrieved 2018-07-10.
- "Wealth manager St James's Place expects rising demand from next ultra-rich generation". The Telegraph. 28 February 2018. Retrieved 20 March 2018.
- "St James's Place's new boss takes the reins". City Wire. 2 January 2018. Retrieved 17 March 2018.
- "St. James's Place Wealth Management | Asia". www.sjp.asia. Retrieved 2018-09-16.