St James Place has for some time been one of the largest and most successful (assuming profit = success) firms in our business. They stuck to their knitting (management-meeting-speak, soz), not changing their way of working when similar sales forces, Allied Dunbar, the Men from the Pru and the banks, all bailed out. They’ve been getting a hard time in the press, and now, more importantly from their shareholders and will, I think, cave in now. Their ‘bloated organisational structure, with more than 120 employees holding a “head of” title’ is changing. Next step, I’d say, those many fancy, brass-plated adviser offices will become virtual. Watch this space.
“Amazon invades financial services with home insurance launch”
Amazon, like Musk, and Branson before them both, can afford to try lots of stuff and fail at some.
