W1M CEO: I didn’t want to be mocked like Abrdn in our rebrand March 31, 2025 The CEO of W1M, formerly Waverton Investment Management, has said he was conscious of other failed rebrands like Abrdn while selecting the firm’s new name. Waverton’s merger with London & Capital last year left CEO Guy McGlashan searching for a name that could unite both firms without excluding either. Eventually it landed on W1M, the [...]
St James’s Place swings to annual profit February 27, 2025 St James’s Place swung to a profit in its annual results as the firm’s turnaround efforts continued to yield results. Britain’s largest wealth manager recorded a £398.4m pre-tax profit, compared to the loss of £9.9m the year prior. Gross inflows for the year totalled £18.4bn, compared to £15.4bn in 2023. Total assets under management at [...]
Stokes and Gakpo part of £4m funding round for AI wealth firm Prosper January 30, 2025 England cricket captain Ben Stokes and Liverpool forward Cody Gakpo are part of a £4m funding round for a wealth management platform leveraging AI. The sportsmen joined Fuel Ventures, who led the round with a £2m investment, in London-based FinTech Prosper. Olympians Dame Jessica Ennis-Hill, Dame Sarah Storey and Tim Podcock, and footballers Ben White [...]
St James’s Place: Stock price jumps after new money surge January 30, 2025 St James’s Place brought in £4.3bn in new money throughout 2024, bringing its total assets under management to a record £190.2bn. Britain’s largest wealth manager attracted £1.5bn of new money over the last quarter of the year, it said in a trading update, 70 per cent ahead of expectations. The firm’s pension arm brought in [...]
Quilter share price rises amid cash inflow spike January 22, 2025 Quilter saw a sharp increase in the amount of cash flowing into its coffers over the last year, as the wealth manager reported its assets under management shot up to £119.4bn. In a trading update, the FTSE 250 firm reported £1.8bn in new business over the last quarter, bringing its take-in for 2024 as a [...]
How St James’s Place is changing its opulent image December 9, 2024 St James’s Place is working to overhaul the ‘cruise and cufflink’ image that it has long been saddled with, including dropping its annual conference for advisers at the 20,000-capacity O2 Arena. The wealth manager giant, which will be re-promoted to the FTSE 100 later this month, has dropped the opulent gathering with its 4,852 advisers [...]
St James’s Place readies redundancies in cost-cutting push December 2, 2024 St James’s Place is set to make around 500 redundancies next year as part of its sweeping cost-cutting plan, according to reports. Around a sixth of the wealth manager’s non-financial adviser workforce are set to be laid off in February, an internal memo, seen by Citywire, revealed. Over the summer, St James’s Place revealed it [...]
Canaccord Genuity launches strategic review of UK wealth arm November 26, 2024 Investment bank Canaccord Genuity has reportedly launched a strategic review of its UK wealth management business amid a barrage of consolidation in the sector.
Mattioli Woods: Profit slashed at wealth manager as it quit London November 19, 2024 Profit at wealth manager Mattioli Woods was slashed by more than 90 per cent as it prepared to delist from the London Stock Exchange’s AIM, it has been revealed. The Leicester-headquartered was acquired by London-based private equity firm Pollen Street Capital after the deal was first announced in March. In its latest accounts, which have been filed [...]
St James’s Place: More changes in mandates to come, CIO says October 25, 2024 There will continue to be a significant shake-up in who manages some of the biggest funds at the UK's largest wealth manager, the chief investment officer of St James's Place has told Morning Wire.