St James Place’s gross inflows were up 20 per cent over the quarter from 2014’s figure of £1.94bn to this year’s figure of £2.32bn, which the firm said was largely due to pensions sales growth
Funds under management were at £54.5bn against 2014’s figure of £49.1bn. Gross inflow of funds under management were up 16 per cent over the nine months to £6.72bn, against 2014’s figure of £5.78bn.
Net inflow of funds under management was at £1.48bn against 2014’s £1.26bn, 17 per cent in the quarter and 12 per cent over the nine months to £4.15bn up from £3.70bn in 2014.
Chief executive David Bellamy explained that investments were 20 per cent higher at a record £2.32 billion which, together with the continued high retention of clients and their investments, resulted in record net inflows up 17 per cent, compared to the same period last year.
“Following the implementation of arguably the biggest changes to retirement options in a generation, our partners have understandably been particularly active in helping clients to fully understand the more flexible, often complex, options available in respect of their retirement funds so that they may decide which best suits their immediate and future financial objectives,” he stated.
“These results, alongside the very pleasing level of recruitment activity and interest in our academy, demonstrate the very positive momentum in the business,” Mr Bellamy added, referring to the firm’s recent training academy expansion.