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.

Add This email address is being protected from spambots. You need JavaScript enabled to view it. to your address book to ensure email delivery. Thank you!

FINANCIAL PLANNING JOBS - Advertise your vacancy from £99 ex VAT
Reach 12,000+ professionals by advertising your vacancy with us. Set up an account and post your job the same day. Big savings for advertising 2 or more vacancies.
Special Offer: Use code 'FPJSaver10' on checkout to save on selected packages. Click for details:
jobs.financialplanningtoday.co.uk/