British wealth manager St. James’s Place (SJP) has said that its gross inflow of funds under management for the year ended 31 December 2018 was £15.7bn.
This represented an increase of 8% compared to £14.6bn a year earlier.
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The group’s net inflow of funds under management stood at £10.3bn, up 8% from £9.51bn in the previous year.
Group funds under management totalled £95.6bn as at 31 December 2018, a 5% rise from £90.75bn last year.
However, the figure marks a decrease from the third quarter of 2018, when funds under management totalled £100.6bn.
The number of qualified advisers at the group increased 8% to 3,954 on a year-on-year basis.
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By GlobalDataSJP CEO Andrew Croft said: “Against the particularly difficult market conditions that prevailed in the final quarter and compared to an exceptional outcome in 2017, I am pleased to report another good set of results that demonstrate the resilience of our business.
“However, our clients and advisers are not immune to such external market factors and, whilst the quarter began strongly, inflows weakened in the final two months resulting in gross inflows for the fourth quarter of £3.95 billion. This was a robust performance, though slightly lower than our record fourth quarter last year, and resulted in full-year gross inflows of £15.7 billion, which represents growth of 8% over 2017.”
