The existential threat at the heart of Britain's biggest wealth manager

It was a huge moment for the Gloucestershire-based firm, which although had the ring of a centuries-old wealth manager, was just 23 at the time. When the companies that make up the blue-chip index are next reviewed in June, however, there is a real risk that SJP will be dumped out of the FTSE's top flight - encapsulating a significant fall from grace for the once-lauded investment house. When asked if the company was in danger of being relegated from the FTSE 100, an industry expert, who asked to remain anonymous, answered: "It's not a danger, it's a near certainty." From its peak ...