The charges on the most expensive tracker funds are 20 times the cost of the cheapest alternative despite identical or near identical performance, according to new research by investment platform AJ Bell.

Wealth manager St James’s Place announced today that its much-criticised charging structure will be full revamped by the second half of 2025.

After intense pressure from several quarters, wealth manager St James's Place said today that it would scrap most exit charges in a major overhaul due to be implemented in the second half of 2025.

Investors in St James’s Place can be forgiven for reaching for a stiff Scotch this evening - it’s been one hell of a day.