St James’s Place prospers but warns on DIY fund confusion

 
Michael Bow
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THE CHIEF executive of wealth manager St James’s Place yesterday said the escalating price war between fund platforms risked making investing more difficult for savers.

Boss David Bellamy said new charging structures used by fund supermarkets made it harder for DIY investors to understand how much they were paying.

“What I think is unfortunate is the fragmentation in the charging area, which I think will make life very difficult for clients,” he said.

The company – which is set to join the FTSE 100 in March for the first time – reported a 27 per cent surge in assets under management for last year.

It has also boosted staff numbers by nearly ten per cent, in a bid to drive more business sales over the next 12 months.

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