St James’s Place posts record results and eyes future growth

Wealth management firm St James’s Place has announced record results for the latest financial year.

The FTSE 100 company, which is headquartered in Cirencester in Gloucestershire but has offices around the UK, said funds under management reached an all-time high of £154bn in 2021.

Its underlying cash result was £401.2m for the year, jumping from £264.7m the year before.

The firm posted gross inflows of £18.2bn for 2021 – up from £14.3bn the year previously – while net inflows reached £11bn, rising from £8.2bn in 2020.

“I am very pleased to report that St James’s Place had an excellent year,” said chief executive Andrew Croft. “Looking forward there is no doubt in my mind that the demand for face-to-face financial advice remains as strong as ever.

“In fact, as we emerge from the pandemic, I believe more people will be reassessing their life plans and be more likely to seek out a trusted adviser. St. James’s Place is ideally positioned to continue to benefit from this increasing demand for advice.”

The firm’s board has proposed a final dividend of 40.41 pence per share – up from 38.49 pence per share in 2020. This would result in a full-year dividend of 51.96 pence per share.

Mr Croft added: “As we look ahead, our performance in 2021, taken together with the investments we are making for the future, means we remain confident in achieving our 2025 ambitions and continuing to prosper thereafter.”

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Hannah BakerSouth West Business Editor