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Strong sales rise for St James’s Place

St James’s Place saw business figures rise by 23 per cent last year to £428.6m from £349.1m.

Investment business was up by 27 per cent, from £186.5m to £236.0m and pension business rose by 23 per cent,from £140.1m to £172.3m. Protection sales dropped by 10 per cent from £22.5m to £20.3m.

Chairman Mike Wilson says the firm is pleased with the in spite of difficult market conditions and maintains annual growth targets over the next year of 15-20 per cent.

Adviser numbers grew by 8 per cent to 1,251, the highest growth for the firm since 1999.

SJP now has a total of £18.2bn under management, up by 18 per cent on last year.

Single-premium investment sales grew 27 by per cent to £2.4bn and single-premium pension business leapt by 33 per cent to £1bn.

Wilson says: “Despite continued market uncertainty there remains a growing demand for advice and we are very well positioned to capitalise on this.

“We believe that the strength, quality and the increase in size of our team of advisers gives us a major competitive advantage in the UK wealth management market.”

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