FTSE 100 wealth manager St James's Place records almost £2bn net inflow for first quarter

Alys Key
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Outgoing CEO David Bellamy put the success down to customers prioritising long term planning

Increased uptake of pensions and personal savings plans pushed net inflows up to almost £2bn for wealth management group St James's Place in the first quarter of 2017.

The FTSE 100-listed company recorded a 46 per cent increase of net inflow of funds under management from £1.36bn at the end of 2016 to £1.99bn.

The firm's share price leapt from 1115p to 1129p this morning after the results were announced, but is now back down to 1114p.

Pensions brought in net £1.02bn, as customers looked to secure stability for their finances.

Outgoing chief executive David Bellamy said: "Whilst political and macro uncertainties persist, the more immediate concern for many people relates to personal financial matters, particularly in relation to long term savings, protecting and preserving wealth, tax and intergenerational planning."

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