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SJP nears £100bn AUM mark as pension assets spike

Gold nuggets whitebg 480St James’s Place is approaching £100bn in assets under management as its pension business saw another strong quarter of inflows.

Results for the final quarter of 2017 show the restricted manager now has AUM of just over £90bn , up 20 per cent in twelve months.

Pension funds increased from £28bn to £36bn, an increase of 28 per cent. The firm now has 3,661 qualified advisers on its books.

Chief executive Andrew Croft, who recently took over from David Bellamy, who had headed up the business for more than a decade, says: “At the heart of this sustained growth is the importance we place on maintaining long lasting relationships with, and between, our partners and clients and serving them well.

“We continue to see a growing demand for advice…our continuing focus on achieving the best possible outcomes for our clients, through the provision of trusted financial advice and our distinctive investment management approach, gives us confidence that we will continue to grow our business, in line with our objectives, in 2018 and beyond”

Exclusive: SJP chief reveals all on charges, FCA and the future of advice

The financial statements show that SJP has slightly reduced its UK equity exposure, from 23 per cent to 21 per cent, and upped the proportion of funds held in fixed interest assets from 17 per cent to 19 per cent.

Property and alternative assets account for around three per cent of SJP funds under management respectively.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. It’s always good to see the old “distinctive investment management approach” quote rolled out. That’s what I always read in the suitability reports from SJP that recommend that a client moves from a PP with an AMC of 0.5% and 200 funds to choose from, into an SJP PP with an AMC of 1.7%, 36 funds to choose from and a penalty if you want to transfer in the first 6 years.

  2. take the high road road 25th January 2018 at 12:37 pm

    I think you’ll find that SJP have around 80 funds plus a further 10 or so ‘risk’ rated MM funds but all the same, if you look at their fund ‘Factsheets’ on any of these, the information on what these cost is pretty much non-existent!!

    I thought all managers and industry providers had to show at least this sort of information….and what will the FCA do about it?…as usual,your answers on a stamp please!

    • Rubbish the whole SJP model is bankrupt, it would have closed years ago if it were not for the AMC’s charged, funding the loss’s of it’s TIED AGENTS and the shortly to be enjoyed weekend in London, at a cost of £3,000,000, all of which the Client is paying for. Anything different response is untenable, The profit from the Over Charging is explicitly being used to support and un-financially viable advice proposition.

  3. Are they any more expensive than a typical IFA?

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