St James's Place distribution business falls into loss
St James's Place's (SJP) distribution business tumbled into the red last year, which the firm said was due to the cost of hiring more advisers, and a £5.5m Financial Services Compensation Scheme (FSCS) levy.
SJP reported operating profits of £462.7m for 2013, up 26% on the previous year, during a period in which it said it added 45,000 new clients. The key driver of the improved result was the increase...
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