Experienced investment manager Justin Onuekwusi has begun his new role as chief investment officer (CIO) at wealth manager St James’s Place.

Schroders intends to use its new Financial Planning business to launch a price war against rivals like St James’s Place and Brewin Dolphin.

Complaints upheld against advisers slumped in the first six months of the year, the latest data from the Financial Ombudsman Service has revealed.

St James’s Place managing director of investments is set to step down at the start of next year, the firm has revealed in its half year results.