St James's Place (SJP) is planning significant cost reductions over the next two years as part of a "save to invest" strategy.
The wealth management firm aims to achieve annual savings of £100m by 2027, according to its half-year results released today (July 30). By 2030, it anticipates total savings of £500m, with half of that amount being reinvested into the business. The half-year report reveals net inflows of £1.9bn, a decrease from £3.4bn in the same period of 2023, yet the firm revealed record funds under management of £181.9bn and a 3% net increase in its client base to 988,000. SJP chief executive Mark FitzPatrick said: "I am encouraged to report robust business performance for the first half of 20...
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