Net inflows to wealth manager St James’s Place slumped by more than a third in the six months to June compared to last year but funds under management climbed to a record high as the firm pledged to cut £500m of costs by 2030.

Hargreaves Lansdown has given more time for a private equity consortium to firm up its £5.4bn offer for the company as its latest trading update revealed it had reached a record AUA of £155.3bn.

Fintech and adviser support services firm Fintel, owner of SimplyBiz and Defaqto, has reported making “strategic progress” in a trading update published today.

Wealth manager St James’s Place saw net inflows nearly halve in 2023 to £5.12bn but funds under management rose sharply as a market recovery got under way.