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St James's Place sees fourth quarter funds under management boosted by net inflows of client money

The FTSE 100-listed wealth manager said its total assets at the end of December were £90.8bn, up from £85.7bn at the end of the previous quarter, and ahead 20% year-on-year
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It added that gross inflows for the final quarter exceeded £4.0bn, taking full year inflows to £14.6bn, a growth of 29%

St James's Place PLC (LON:STJ) has reported a 5.9% rise in fourth quarter funds under management, boosted by net inflows of client money and market gains.

The FTSE 100-listed wealth manager said its total assets at the end of December were £90.8bn, up from £85.7bn at the end of the previous quarter, and ahead 20% year-on-year.

READ: St. James's Place Capital sees funds under management rise by 3.2% boosted by pension product inflows

It added that gross inflows for the final quarter exceeded £4.0bn, taking full year inflows to £14.6bn, a growth of 29%.

Andrew Croft, St James’s Place’s chief executive, commented: “The continued strong and improving retention of client funds provided for net inflows of over £2.8bn in the quarter and £9.5bn for the twelve months, growth of 40%.” 

He added: “We continue to see a growing demand for advice and it is therefore also pleasing to report a 7% increase in the number of qualified advisers across our Partner businesses.”

Croft concluded that the firm has confidence that it will continue to grow its business “in line with our objectives, in 2018 and beyond".

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