Wealth manager St James’s Place saw profits slump in 2019 after a “challenging year” for the wealth management sector.

LEBC Group, the pensions and financial advice company founded by a Chartered Financial Planner, remains in “buoyant mood” despite making a financial year loss of £401,000 last year and having to withdraw from DB transfer advice.

Platform Transact is to trim annual and buy commission charges in the spring as platform competition intensifies.

Platform and SIPP provider AJ Bell saw pre-tax profit rise by 33% to £37.7m in the year ended in September, the company reported today.