Charles Stanley shares fall 10% after profit warning

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Investors in Charles Stanley saw the value of their shares plummet by more than 10% this morning after the firm issued a profit warning.

The wealth manager said its next round of results will miss market expectations as the business continues to feel the squeeze on commission income. The Charles Stanley share price soared in 2013, topping 500p at the start of 2014. But its share price has fallen 41% since the start of 2014, with the decline accelerating in June and July. Funds holding Charles Stanley include the £300m Liontrust UK Smaller Companies and Schroder Institutional UK Smaller Companies. Charles Stanley said in a statement this morning that despite improving fee income and discretionary funds, declining com...

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