St. James’s Place Wealth Management Asia (“SJP Asia”), the international business of the leading FTSE100 wealth manager, is pleased to announce that its Singapore subsidiary, St. James's Place (Singapore) Private Limited (“SJP Singapore”), has been granted a Capital Markets Services (“CMS”) licence by the Monetary Authority of Singapore (“MAS”).
With the CMS licence, SJP Asia, through its business in Singapore, will be able to operate discretionary accounts on behalf of its clients under the St. James’s Place Discretionary Portfolio Service.
Gary Harvey, Chief Executive Officer of SJP Singapore, said: “This licence is a significant milestone for SJP Asia and further entrenches our role in Singapore as a leading wealth manager. We are delighted to have received approval from the MAS, and we believe this attests to our track record, management expertise and strength of our business plans. The licence will enable us to expand our investor base and we are excited to be growing our business in Singapore, where we have evolved from serving a primarily expatriate clientele to a trusted wealth manager for all Singapore residents.”
David Lamb, Chairman of SJP Asia Investment Committee, added: “Discretionary portfolio management is an integral part of our approach to investment management and we are delighted that we will now be able to extend the offering to our clients in Singapore, giving them access to a trusted and experienced investment team and to expertly managed portfolio solutions that cater to different needs. As part of this discretionary service, clients can delegate the day-to-day management to us while maintaining full oversight of their portfolios and objectives, giving them greater peace of mind when planning for their financial future.”
SJP Singapore’s discretionary offering provides investors with ease of portfolio administration, a rigorous and personal portfolio management approach as well as access to a specialist research team that ensures portfolios will capture investment opportunities across all global markets and asset classes. As of the end of June 2019, SJP Asia grew its adviser base to 150, while funds under management under the Group increased to over £800 million and total funds under administration to over £1.2 billion.
About St. James’s Place Wealth Management Asia
St. James’s Place Wealth Management plc (“SJP”) is a leading wealth management group, with offices across the UK, and internationally in Singapore, Hong Kong and China. Through its dedicated network of financial advisers – the Partnership – the business provides face-to-face wealth management advice to individuals, businesses and trusts based on their personal needs and circumstances.
Founded in the UK in 1991, St. James’s Place was listed on the London Stock Exchange in 1997 and is now a FTSE 100 company with over £109.3bn of client funds under management. Since acquiring The Henley Group, one of Asia’s leading wealth management advice companies, in 2014, SJP has become one of Asia’s largest wealth management companies serving the local and expatriate communities.