Third quarter new business inflows and funds under management update

Continued strong net inflows drive funds under management to a record £112.8 billion.

St. James’s Place plc (“SJP”), the wealth management group, today issues an update on new business inflows and funds under management for the three months ended 30 September 2019.

Andrew Croft, Chief Executive, commented:

“I am pleased to report another good quarter for St. James’s Place. In the three months to the end of September, new and existing clients entrusted us with £3.74 billion of new funds. Through the excellent work of our Partners and their staff in building and maintaining close relationships with clients, we are also able to report continued strong retention, resulting in net inflows for the quarter of £2.11 billion, equivalent to 7.7% of opening funds under management on an annualised basis. These positive inflows helped increase funds under management to a record £112.8 billion, some 18% higher year to-date. In what remains an uncertain external environment, these figures once again highlight the resilience of our business model and the outstanding role our Partners and support staff play in providing for trusted, long-term financial advice to our clients.

While political and macro-economic uncertainty may affect the pace of some discretionary investment flows from time to time, it has no bearing on the continuing need for holistic, long-term financial planning. Indeed, we see demand for sound, personal and trusted financial advice growing while at the same time the ‘advice gap’ remains.

I take great pride in the scale and professionalism of the St. James’s Place Partnership and I am confident that our comprehensive and distinct client proposition, which is highly valued by our clients, means we are well positioned to continue to grow over the medium to long-term.”

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