Wealth manager St James’s place has seen new business leap 32 per cent, pushing assets above market forecasts to a record high. The British-based business saw funds under management increase to £27bn, up by £5.6bn, beating analysts expectations of around £26.3bn.
St James’s Place, 60 per cent owned by Lloyds Banking Group, saw new investments of £4.75bn, up 37 per cent. Chief executive David Bellamy said: “I am extremely pleased to report another year of record new business for St James’s Place, including a strong final quarter.
“We remain committed to recruiting only the highest quality advisers into the partnership, while ensuring that we are able to offer a best in class investment proposition for clients.”