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St. James’s Place Exclusive: Stock Plunges 22% | Story Explained

Shares of St. James’s Place Plc, the UK’s largest wealth manager, fell by 22% in a single day due to reports regarding the company’s review of its fees and charges.

St. James’s Place manages assets worth around £150 billion and has roughly a million clients. It has long been criticized for its relatively high fees and convoluted fee structure. Photo: Getty Images

The review of fees may be a priority for the firm’s new CEO Mark FitzPatrick, who took over this month after the departure of Andrew Croft.

The organization has released a statement saying that it is evaluating its fee models to

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