Fourth quarter new business announcement

Fourth quarter new business up 46% with full year single investments of £5.9 billion

St. James’s Place plc (SJP), the wealth management group, today issued its new business update for the twelve months ended 31 December 2012.

Highlights:

New Business

• Total single investments of £5.87 billion (2011: £5.20 billion), up 13%
• Total new business on an APE basis of £743.3 million (2011: £642.3 million), up 16%
• Final quarter new business on an APE basis of £223.8 million (2011: £152.8 million), up 46%

Funds Under Management

• Funds under management of £34.8 billion (2011: £28.5 billion) up 22% over the year
• Continue to retain 95% of existing clients’ funds

Partnership

• Partnership numbers up 8.4% to 1,788

David Bellamy, Chief Executive, commented:

“I am delighted to report a very strong final quarter and another record year of new business for St. James’s Place.

“Whilst market conditions remained challenging for much of 2012, we were pleased to attract £5.9 billion of new investments during the year. This, together with the continued 95% retention of existing client funds and positive investment returns, saw assets under management rise to an all-time high of £34.8 billion which attests to the strength of our Partnership-led business and the quality of our investment proposition for clients.

“We enter the year well positioned for the new RDR environment, with over 2,000 people fully qualified to the new diploma level. Recruitment activity remains buoyant and we have good momentum across all aspects of the business as we continue to develop our investment proposition and enhance the service we provide to our clients.

“We are confident that our approach of face to face advice, provided by a trusted adviser, and a sound investment proposition positions us well for growth in new business, in line with our objectives, in 2013 and beyond.”

Enquiries:

View the full press release (PDF).