St James's Place, one of the UK’s largest wealth managers, suffered a 21% drop in its share price at one point today after announcing a review of its much-criticised fees and charges.

The Capital Gains Tax (CGT) collected from trusts has grown by 27% to £1bn over the past year, according to data released by HMRC this month.

Four Financial Planning and wealth management firms are included in the table of most complained-against financial services firms published by the Financial Ombudsman Service for the first half of 2023.

Wealth manager St James’s Place is expanding its work with charity Young Enterprise to support the accreditation of schools looking to become Centres of Excellence for financial education.