St James's Place is expected to drop out of the FTSE 100 next week after shares in the wealth manager fell by 57 per cent in the past year.
In its indicative quarterly review published on Tuesday (May 28), the London Stock Exchange said SJP could be demoted to the FTSE 250 on June 4.
The wealth manager has struggled over the past year with its share price down 57 per cent over the past 12 months.
Online grocery company Ocado is also set to join the wealth manager in leaving the list.
The pair are expected to be replaced with Darktrace, a cyber security company, and house building company Vistry group.
In April SJP reported that net inflows had halved in the first quarter of 2024, compared with the previous year.
This came as it continued to carry out its review of the business and changes to its charging structure in response to FCA concerns about ongoing charges.
An overhaul to charges in 2023 saw volatile share prices at the firm and in February it revealed it had set aside a provision of £426mn for potential client refunds to address ongoing advice issues, after it saw an uptick in complaints.
Alongside SJP, there are five other additions expected to the join the FTSE 250 including XPS Pension Group, Liontrust Asset Management and Brunner Investment Trust.
SJP did not respond to a request for comment.
tara.o'connor@ft.com
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