St James's Place

The UK's biggest advice firms have been accused of failing to adequately inform potential clients whether they provide independent or restricted advice.

Tied wealth manager St James's Place has sent its advisers guidance on how best to describe its restricted service.

Colin Jelley, St James's Place divisional director of private clients, has left the business.

Lloyds' potential sale of its St James's Place (SJP) stake could be a landmark moment for the bank but the outlook for the wealth manager is less clear, according to investors and analysts.

Lloyds Banking Group is hoping to raise £1bn from the sale of its 60% stake in St James's Place Wealth Management(SJP), according to reports.

CONDENSED

Wealth manager St James's Place (SJP) has stepped up recruitment activity ahead of implementation of the Retail Distribution Review (RDR) and on the back of the withdrawal of some advisory firms from the market.

Fraudsters based in Belgium have used the Financial Services Authority (FSA) register details of a St James's Place partner to dupe consumers.

The Financial Skills Partnership (FSP) is to launch a plan to train 150 unemployed graduates as financial advisers.

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