St. James's Place posts record assets after first-quarter inflows

Pedro Gonçalves
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St. James's Place posts record assets after first-quarter inflows

St James's Place posted a 8.3% increase in funds under management to a record high of £103.5bn in the first quarter as the wealth management company attracted more investments.

The British firm registered a net inflow of £2.2bn in the first quarter, marginally off £2.6bn in the same period of last year.

St James's Place chief executive Andrew Croft said that the performance demonstrated the "resilience" of the wealth manager's business through the current political and macro-economic uncertainty. He said: "Whilst uncertainty will inevitably impact investor sentiment from time to time, it does not change the long-term needs of individuals.

"There remains both a growing market for trusted face-to-face advice in the UK and an advice gap that represents a major opportunity for us." Mr Croft added that he was confident of the ability of the business to continue to generate growth over the medium to long term. 

Whilst uncertainty will inevitably impact investor sentiment from time to time, it does not change the long-term needs of individuals"

The performance builds on SJP's 2018 showing, which saw pre-tax profit rise 14% to £211.9m on £10.3bn worth of inflows.

SJP, which provides a range of financial services to wealthy individuals, said it continued to see strong demand for its face-to-face advice and was confident of its growth outlook.

 

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