Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

SJP assets soar to £34.8bn as adviser numbers climb

4 Comments
SJP assets soar to £34.8bn as adviser numbers climb

St James’s Place (SJP) saw assets under management grow to £34.8 billion in 2012, a 22% increase from the start of the year, as adviser numbers swelled to 1,788.

The restricted network was boosted by £5.9 billion of new investment and pension business, 13% up on 2011, which combined with retention of existing client funds resulted in net inflows of £3.4 billion.

New business profit was up for the year at £276.8 million, a 13% increase from £246 million in 2011, although operating profit dipped slightly, 1.5%, from £371.5 million in 2011 to £365.9 million for 2012.

It again raised its dividend by 33% from 2011, having raised it by the same amount for the last two years.

Adviser numbers grew to 1,788, an 8% increase, and SJP said it had over 2,000 diploma qualified advisers and support staff.

Profit before shareholder tax was £134.6 million, up 23% on the previous year’s £109.7 million.

While SJP’s life and unit business both posted an increase in profits, £111.7 million up from £89.1 million, and £33.5 million up from £27.8 million, its distribution business profits fell to £5.3 million, compared to £6.1 million in 2011.

SJP’s results for 2012 reveal that it paid £9 million in Financial Services Authority (FSA) fees and Financial Services Compensation Scheme (FSCS) bills.

SJP chief executive David Bellamy (pictured) said: ‘Whilst we recognise that there is still economic uncertainty, everything we understand about our marketplace tells us that there has never been a greater need for high quality advice delivered by a trusted adviser, backed by a well-respected company.’

‘We have good momentum across all aspects of the business and are therefore confident in our ability to continue our growth in line with our medium term objectives in 2013 and beyond.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter