bumper Q4 for sjp concludes record year

A bumper final quarter of the year helped St James’s Place to another record year of new business in 2012.

bumper Q4 for sjp concludes record year

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According to the group’s Q4 business report, the three months to the end of December saw £223.8m in new business, a 46% increase on the equivalent period in 2011.

Total new business for the year was £743.3m, up 16% from the £642.3m brought in a year earlier.

The company also saw partnership numbers rise more than 8% during the year to 1,788.

David Bellamy, chief executive at SJP, said: “We enter the year well positioned for the new RDR environment, with over 2,000 people fully qualified to the new diploma level.

“Recruitment activity remains buoyant and we have good momentum across all aspects of the business as we continue to develop our investment proposition.”

Last year SJP thanked the RDR for the high demand it had witnessed to enter its training academy, saying the regulatory change had made financial advice a more attractive career choice.

The firm received 200 applications for just 20 positions on offer, meaning only one in ten candidates was offered a role.

Funds under management at the end of the period were £34.8bn, up 22% from £28.5bn at the end of the previous year.

“We were pleased to attract £5.9bn of new investments during the year. This, together with the continued 95% retention of existing client funds and positive investment returns, saw assets under management rise to an all-time high of £34.8bn,” Bellamy concluded.

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