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St. James’s Place Plc (LSE:STJ) shares fell more than 6% in London trading on Friday following reports that Sovereign Wealth, one of the company’s largest partner firms, is in discussions about joining Swedish wealth management group Söderberg & Partners.
According to the report, Sovereign Wealth oversees approximately £3 billion in assets under management and has a network of more than 50 advisers, making it one of St. James’s Place’s most significant partner firms.
Quarterly Net Inflows Ease
The wealth manager previously reported net inflows of £1.53 billion for the quarter ended 31 March 2026, compared with £1.69 billion during the same period a year earlier.
The company said the lower inflows reflected a period of heightened market volatility and ongoing geopolitical uncertainty, as outlined in its results published on 29 April 2026.
