St. James’s Place says 80% of partners now RDR-ready

St. James’s Place says 80 per cent of its members are now RDR-ready having achieved diploma status.

SJP says a further 11 per cent are only “one or two exams away”. The firm has also reported a 6 per cent increase in partnership numbers to 1,649.

The firm has reported a 10 per cent jump in total new business to £642.3m in 2011.The figure is up on the £581.8m in 2010, while total single investments jumped 10 per cent to £5.2bn, up from £4.75bn in 2010.

Total new pension business jumped 20 per cent from £240.6m to £288.1m.

Assets under management rose 6 per cent to £28.5bn. Net inflows of funds under management hit £3.3bn, from £3bn in 2010, while SJP says it retains 95 per cent of existing clients’ funds.

SJP chief executive David Bellamy (pictured) says: “I am very pleased to report another record year for new business despite the difficult economic conditions that prevailed throughout the year and in particular the extreme volatility that characterised stock markets in the second half of the year.”