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SJP sees new business jump 16% in 2013

St James’s Place has reported a 16 per cent jump in new business for last year.

Publishing its new business update for the year ending 31 December 2013 today, the group revealed total new business reached £865.2m last year, compared to £743.3m the year before.

Total new single investments reached £7.2bn, up 22 per cent on the £5.9bn reported a year earlier.

The net inflow of funds under management stood at £4.3bn last year, up 28 per cent on the £3.3bn reported a year earlier.

Funds under management stood at £44.3bn at the end of last year, a 27 per cent increase on the £34.8bn under management a year earlier.

SJP increased its partnership numbers 9.5 per cent to 1,958 and says it achieved 95 per cent client retention.

Chief executive David Bellamy says: “At a time when access to trusted advice is increasingly in short supply, we remain focused on this aspect of our business and believe our clients value our approach. They also value the importance we place on looking after their wealth through our distinct approach to investment management which offers them a breadth of investment options and bespoke portfolios.

“I am confident that the growth we achieved in 2013, in both new investments and partner numbers, bodes well for the continued momentum in our business and for our future growth in line with our medium term objectives.”

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