Net inflows have dropped 31% year-on year to £2bn (Q1 2022: £2.91bn) for wealth manager St James’s Place in the first quarter of 2023, according to a trading update issued this morning.

Inflation is a worry for two in five older people who plan to pass on £50,000 or more in wealth to loved ones in their lifetime, according to new research.

Wealth manager St James’s Place (SJP) has appointed Justin Onuekwusi as its chief investment officer.

St James’s Place partner firm Apollo Private Wealth has acquired fell SJP firm Cambridgeshire-based Debra Wait Wealth Management.