St James's Place has announced bumper profits thanks to investors' reluctance to pick fund managers themselves. Lex's Robert Armstrong asks Oliver Ralph why its stock has leapt more than 70 per cent in the past year and whether its high valuation can last.<br /><br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
