Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration 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
1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Play CEO Tapes: 'we're just a bunch of white dudes sitting here'

CEO Tapes: 'we're just a bunch of white dudes sitting here'

In our brand new series, eight CEOs discuss how the industry could do a better job for female fund managers.

Read More
Your Business: Cover Star Club

Profile: how career burnout led to a family office launch

Profile: how career burnout led to a family office launch

I was burnt-out from a career in finance and had no desire to come back, says the founder of Blu Family Office

Wealth Manager on Twitter