St. James’s Place, the UK-based wealth manager, has recorded record funds under management (FuM) of £47.6 billion in the first half of 2014, 19% higher than at this time last year.
The results were attributed to a net inflow of FuM of £2.44 billion, 23% more than at the same point last year, as well as a 95% retention of existing client funds.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
David Bellamy, chief executive, said: "I am very pleased to report another strong performance from St. James’s Place. As I have commented previously, we believe that there is a growing market for trustworthy, personal advice in the UK marketplace and these results once again demonstrate that fact. They also demonstrate that the scale and quality of the company’s relationship based approach to wealth management, twinned with our distinct investment management proposition, which has been positioned to serve this market, is doing so."
St James’s was sold by majority owner Lloyds Banking Group in December for £670 million.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
