Wealth giant St James's Place relegated from FTSE 100

The confirmation follows rumours from the end of last month that a 26.5% slump in SJP's share price could result in demotion. The move follows dwindling inflows at the wealth manager amid a structural review of the business as attention grows on its charging structure. Earlier this year, the firm set aside £426m for potential client refunds and slashed its dividend. Year-to-date, the firm's share price has fallen 21.5% and is down 55.5% over 12 months. Read more: The existential threat at the heart of Britain's biggest wealth manager