Tuesday, 23 October 2018 08:57

SJP boosts assets to more than £100bn

Rate this item
(0 votes)
Andrew Croft Andrew Croft

Wealth manager St. James’s Place has credited new business inflows with delivering funds under management in excess of £100bn.

Results for the nine months ended 30 September revealed the milestone alongside other strong metrics.

The results showed the firm had increased inflow of funds from £10.46bn in 2017 to £11.75bn, an increase of 12%.

The company also retained 96% of clients and increased its net inflow of funds by 15%, from £6.66bn in 2017 to £7.68bn.

  

Group funds under management rose from £85.7bn in 2017 to £100.6bn this year, an 11% increase.

Andrew Croft, chief executive, said: “Building on the exceptional growth we achieved over the last two years, I am pleased to report continued growth in the third quarter. Gross flows, at £3.83 billion, were 7% higher than the prior year comparator, which itself was up 28%.

“This takes the year to date gross flows to £11.75 billion, growth of 12%.

“With continued strong retention, net flows for the nine months were up 15% to £7.68 billion, taking funds under management to a record £100.6 billion, up 11% since the start of the year and 17% over the 12 months.

“We have delivered this continued growth despite both tough comparatives and a more challenging environment for the industry, once again demonstrating our resilience in these market conditions.”

He added: “There remains growing demand for high-quality financial advice, notwithstanding the current macro and geo-political uncertainty.

“With the strength and professionalism of the Partnership, together with the breadth of our client proposition, we have a major and sustainable competitive advantage.

“Consequently, we remain confident in our ability to grow our business in line with our stated objectives over the medium-term.”

 

FREE. Get more stories like this daily to your inbox. Unsubscribe at any time. Sign up now.

FINANCIAL PLANNING JOBS - Save 10% with this code 
Reach 12,000+ potential candidates by advertising your vacancy with us. Set up an account and post your job in minutes. Big savings for advertising 2 or more vacancies.
2019 Special Offer: Save money - Use code 'FPJSaver10' on checkout to save. Click here for details:
jobs.financialplanningtoday.co.uk/