- Activist shareholder targets "bloated" workforce and "overly generous" pay
- Operating expenses per adviser are up 65 per cent in five years
- Stock has trailed peers and the FTSE 100 over the period
IC TIP:
Hold
at
939p
St James’s Place (STJ) is “fundamentally a strong business that has been delivering great value for clients, partners, employees and even the regulator for years…however, it has failed to deliver meaningful value for shareholders over the last five years.”