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St James’s Place shares fall amid AI tax disruption concerns
St James’s Place shares dropped on fears AI-driven tax automation may disrupt advisory revenues.
Shares of St James’s Place fell after investors raised concerns that AI-driven tax automation tools could disrupt traditional advisory income models. The selloff extended to peers including Quilter and AJ Bell amid broader uncertainty in wealth management stocks. Analysts said while artificial intelligence may enhance efficiency, it could compress advisory margins and reshape client engagement structures over the coming years.