St James’s Place is targeting mature students wanting to make a career move into financial advice to boost its recruitment activity.
The company increased its number of partners by 6 per cent over 2011, from 1,552 to 1,649. Last year, it relaunched the St James’s Place Academy to further recruitment efforts.
SJP chief executive David Bellamy says: “We are effectively creating an environment where second careerists, so mature students, can come out of their existing employment and come and train with us to become fully fledged advisers.”
The company has maintained its target of growing partnership numbers by a net amount of between 5 and 7 per cent each year for the last five years. Eighty per cent of partners are now diploma-qualified.
SJP’s 2011 results, published last week, show a 10 per cent increase in total new business from £581.8m to £642.3m.
Total single investments are up 9 per cent from £4.75bn to £5.2bn. Total pension new business jumped by 20 per cent from £240.6m to £288.2m.
Funds under management are up by 6 per cent from £27bn to £28.5bn.