SJP adviser numbers surge as assets pass £50bn

The number of advisers employed by St James’s Place has grown 10.3 per cent, to 2,835, over the last year as funds under management passed the £50bn mark, the firm’s new business update shows.

Advisers numbers have been boosted by the firm’s Asian acquisitions and students graduating from the Academy training programme, as well as hiring established advisers, SJP says.

Unaudited figures show funds under management grew 17 per cent over the last 12 months, from £44.3bn to £52bn, and that the firm picked up 50,000 new clients over the year.

Net inflow of funds under management rose 20 per cent, from £4.23bn in 2013 to £5.09bn in 2014, while retention of existing clients’ assets is at 96 per cent.

New investment, pension and protection business grew 17 per cent on an APE basis, from £762.9m to £895.6m

New third party business – including group personal pensions, annuities and Sipps – is up 1 per cent from £591.1m to £598.1m.

The note adds the board still plans to raise the full year dividend by 40 per cent.

SJP chief executive David Bellamy says: “I am delighted to report another record year of new investments. These results, together with the continued strong retention of our client funds and positive investment returns, saw our funds under management increase by £7.7bn to a record £52bn.

“We attracted over 50,000 new clients in the year and our record on retention underpins our belief that, as well as the positive investment returns and the individual advice they can rely on, clients value the human relationship and highly personal interaction that our proposition delivers. This is evidenced by the consistency of our growth in recent years with funds under management growing by a compound 19 per cent for both the last 5 year and 10 year periods.”

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. I don’t think one can argue that SJP is a very successful business.

    But those of us who are independent and have had a little experience of their proposition and methods can testify that they are again proof of something that I have maintained for some time and been castigated on occasion for saying so.

    SJP proves yet again that the Great British Public can be awful fools. Indeed one could say that you can fool some of the people some of the time and a whole lot more most of the time.

    I also think that many of us can learn from them too. How they manoeuvre their way through the regulations and manages to keep their charges opaque and pay fast and loose with status disclosure is an example of ducking and diving that makes many of us look leaden footed.

    Green eye – no. I don’t envy them in the least. I would rather earn a lot less and retain my integrity and independence. Outspoken, blunt and indelicate perhaps.

  2. May you always be outspoken, blunt and indelicate Harry – or were your referring to SJP? LOL!

  3. If I have done the maths correctly they now represent more than 10% of the regulated advisers in the UK, surely a big enough target for the FCA to aim at if they are serious about enforcing the objectives of RDR?

    Or is it easier to bully the little guys who cannot stand up to them? Show us that we are all on a level playing field.

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