View the article online at http://citywire.co.uk/wealth-manager/article/a630558
SJP funds breach £32bn as wealth network eyes adviser growth
by Alex Steger on Oct 31, 2012 at 08:24
Lloyds-owned wealth adviser network St James’s Place (SJP) is set to grow adviser numbers as funds under management hit nearly £33 billion.
SJP chief executive Bellamy (pictured) said the firm had increased recruitment since the first half of the year and was confident of boosting adviser numbers by up to 8% over the months ahead.
The upmarket salesforce grew funds under management to £32.8 billion in the third quarter of 2012, a rise of 6% from the previous three months, and up 15% since the beginning of the year.
SJP said it would benefit from continuing to attract advisers while other companies withdrew from the face-to-face advice market.
Bellamy said: ‘I am confident the recent trends in new business and recruitment activity, together with the continued strengthening of our investment proposition bodes well for the rest of the year and importantly our future growth prospects.’
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