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St. James's Palace delivers 'robust' set of results
StockMarketWire.com
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Wealth management group St. James's Place has reported a modest 1% gross inflow increase for Q4 against the same period in 2019, totaling £4.02 billion.
However, across the entire year gross inflow is down 5% on 2019 to £14.33 billion.
Andrew Croft, chief executive welcomed the resilience of the company's Q4 performance, commenting: 'We continued to achieve strong retention of client investments despite the unprecedented external conditions, resulting in net inflows of £8.25 billion, representing 7% of opening funds under management.
'This net investment, together with positive investment returns experienced by our clients, provided for year end funds under management of a record £129.34 billion, up 11% over the year.'
Despite pausing the intake of their 'Academy', adviser retention coupled with modest recruitment resulted in net adviser growth to 4,338 advisers, an increase of 67.
Story provided by StockMarketWire.com
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