St James’s Place Wealth Management Update
St James’s Place Wealth Management report record inflows and strong investment returns drive funds under management 20% higher to £90.7 billion.
St. James’s Place Plc have issued an update on new business inflows and funds under management for the twelve months ended 31 December 2017. Andrew Croft, Chief Executive, commented: “It gives me great pleasure to confirm that the strong performance we experienced in the first nine months of 2017 continued into the final quarter, making 2017 a record year. Gross inflows for the final quarter exceeded £4 billion taking full year inflows to £14.6 billion, growth of 29%. The continued strong and improving retention of client funds provided for net inflows of over £2.8 billion in the quarter and £9.5 billion for the twelve months, growth of 40%. This result, together with positive investment returns, increased funds under management by £15.4 billion to £90.7 billion, growth of 20%. At the heart of this sustained growth is the importance we place on maintaining long lasting relationships with, and between, our Partners and clients and serving them well. We continue to see a growing demand for advice and it is therefore also pleasing to report a 7% increase in the number of qualified advisers across our Partner businesses. Our continuing focus on achieving the best possible outcomes for our clients, through the provision of trusted financial advice and our distinctive investment management approach, gives us confidence that we will continue to grow our business, in line with our objectives, in 2018 and beyond”