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...Griggs will also scrap the “trust solutions” and “consulting solutions” brands in favour of “assurance” and “advisory”. Tax accounted for 26 per cent of the US firm’s revenue before the split....
...to people familiar with the matter....
...Its cash flows were also lowered by the timing of property purchases, sales and collections of rental revenues, and payments of expenses, among other factors, according to people briefed on the matter....
...The decision by wealth manager St James’s Place to terminate its relationship with Somerset was a blow to the London-based firm, and called into question its future, some of these people said....
...St James’s Place is under pressure from regulators to overhaul its fee structure to ensure it complies with the UK’s new consumer duty, according to people familiar with the discussions....
...It said it had given people more time to respond to the consultation, which closes at the end of April....
...Stephen Vines St Albans, Hertfordshire, UK...
...In the clubby, comfortable world of dishing out advice to the wealthy, SJP has lost the trust of the market — and potentially its clients....
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...“I think [this issue is] going to affect way more companies than just St James’s Place,” said Charlotte Ransom, CEO of discretionary wealth manager Netwealth....
...St James’s Place said its unit trust, life and pension property funds had net withdrawals of £211mn, £131mn and £191mn respectively over the past 12 months....
...Read the full story here Chart of the week As the share price of St James’s Place began to plummet by almost a third last Wednesday morning, shareholders could have been forgiven for feeling a sense of...
...It particularly highlights WikiLeaks’ posting of the so-called “collateral murder” footage showing a US helicopter attack in Iraq in 2007 that killed several unarmed people, including two Iraqi Reuters journalists...
...The head of Japan’s biggest recruitment agency says artificial intelligence will resolve the country’s labour shortages, but has warned its usefulness will be limited until people gain more trust in the...
...He chaired the listed investment trust from 1988 until 2019....
...from the Association of Investment Companies....
...In attacking Conservatives who have accused the National Trust of wokery, Labour leader Sir Keir Starmer has rolled his tanks onto the genteel lawns of Middle England....
...“Central to that strategy is ensuring people can access advice if they want it and have trust in the services on offer.”...
...The ONS figures chime with data reported at the end of last year by the market research company Ipsos, which found trust in politicians had reached its lowest score in 40 years in 2023....
...There are more stakeholders to placate but there are fewer people you can trust to resolve problems....
...St James’s Place has appointed Mark FitzPatrick as chief executive officer, replacing Andrew Croft who will step down at the end of the year....
...Lunching with your colleagues and sticking the bill on the company card isn’t the best use of company cash. Which explains why companies often provide in-house catering....
...In a further blow, Jacob’s father Victor didn’t trust his son’s judgment and sided with his cousin....
...“This is a tax on people who can least afford it, people who drive long distances to get to work . . . They want to take away your gas car....
...begin a wind-down process, according to two people familiar with the situation....
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