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SJP assets jump to record high of £27bn

St. James’s Place has seen its funds under management jump by £5.6bn in 2010 to reach a record high of £27bn.

The wealth manager has also reported a 32 per cent rise in total new business on an annual premium equivalent basis in 2010.

Total new business for 2010 stood at £581.8m, up from the £440.8m in 2009. Total single investments also rose by 37 per cent from £3.4bn to £4.75bn. The group says manufactured business accounted for 91 per cent of new business.

Net inflows of funds under management rose 30 per cent to £3bn in 2010, up from £2.3bn in 2009. SJP says its partnership numbers rose 6 per cent in 2010 to stand at 1,552.

SJP chief executive David Bellamy says: ““I am extremely pleased to report another year of record new business for St. James’s Place, including a strong final quarter. New investments of £4.75 billion coupled with the excellent retention of existing client funds and further growth in stock markets, have resulted in funds under management reaching an all time high of £27 billion.

“We remain committed to recruiting only the highest quality advisers into the Partnership, while ensuring that we are able to offer a best in class investment proposition for clients. We believe this focused approach will enable us to maintain momentum in our business and provide a good platform to deliver 15-20 per cent per annum new business growth over the medium term.”

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Comments

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

  1. SJP: aren’t they independent advisers? At least that’s what I’m told.

    Anyway, good luck to them. We need a few more beacons of high quality advice and an approach that’s client focused, instead of the usual high commission sell anything approach taken by other advisers.

  2. You’ve got to hand it to them, they still produce the business. Well done!

  3. I had better make it clear that I was being sarcastic.

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