Wealth management firm St James’s Place has reported a continuing rise in funds under management, with the total growing 8 per cent in the third quarter and 15 per cent since the beginning of the year.
Reporting on its performance in the three months to 30 September 2012, SJP reported funds under management of £32.8bn, with the company stating that it is currently retaining 95 per cent of existing clients’ funds.
Total new business reached £165.6m on an annual premium equivalent, up 8 per cent on the £153.9m of the previous year.
In addition, the firm said that it has seen an increase in recruitment activity in the first nine months of the year, with its chief executive predicting headcount growth of up to 8 per cent by the end of 2012.
David Bellamy, chief executive of SJP, said: “In addition to the trend in new business, we have also experienced an increase in recruitment activity since the half year such that we are very confident of full year growth of 7-8 per cent.
“I am confident that 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.”
