SJP shareholder 'pleased' with firm's response to critical open letter

First sent in October

Sophie King
clock • 1 min read

St. James’s Place (SJP) has received a second letter open letter from shareholder PrimeStone Capital that welcomed the advice giant's promise to review its cost base.

In October, PrimeStone wrote a scathing open letter to the SJP board of directors that outlined its disappointment with the shareholder value delivered by the advice giant. The letter urged the board of directors at SJP to discuss the proposal outlined by the pair at their next meeting, and to launch a cost review and optimisation project immediately. PrimeStone said the advice giant's shares had "significantly underperformed" most of its publicly listed peers, saying its share price was down 7% since the end of 2015 and SJP's closest peers with similar asset growth trade on earnings mul...

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 Your profession

Advisers urged to remain 'alert' as LPA financial misconduct complaints rise

Advisers urged to remain 'alert' as LPA financial misconduct complaints rise

Alleged LPA financial misconduct complaints rose to almost 12,000

Sophia Panayi
clock 12 October 2026 • 3 min read
News editor's view: Taxing questions for advisers

News editor's view: Taxing questions for advisers

The news editor's Friday Night Takeaway from 9 October

Isabel Baxter
clock 09 October 2026 • 2 min read
Why the new chancellor must rebalance growth and consumer protection

Why the new chancellor must rebalance growth and consumer protection

'Healy should re-empower the FCA to unleash the full potential of Consumer Duty'

James Daley
clock 09 October 2026 • 3 min read