St. James’s Place (SJP) grew its funds under management to a record £220bn in 2025, according to a business flows update.
The 16% growth meant the wealth manager added £29.8bn to FUM over the course of the year. Net inflows rose to £6.16bn, up from the £4.3bn recorded in 2024.
Similar to other investment bosses in recent weeks, CEO Mark FitzPatrick, commented on the impact protracted speculation had on the firm’s business in the lead up to the Autumn Budget.
He said new business performance reflected “clients’ desire for trusted advice” amid a period of heightened uncertainty.
“Client-adviser engagement was unseasonally high in the third quarter, linked to the successful implementation of our new charging structure in late summer, resulting in lower levels of activity early in the final quarter, as expected.
“The final quarter also saw elevated short-term outflows, as many clients accelerated tax-free cash (TFC) withdrawals from their pensions in anticipation of reduced TFC allowances. As we exited the quarter, we were pleased to see both outflow rates and client engagement normalise, and this has continued into the early part of 2026.”
On the year as a whole, he added: “2025 was a year of progress for SJP, where we strengthened our business for the future while growing our client numbers, increasing our inflows, delivering good investment returns and achieving record FUM. As anticipated, clients and advisers successfully adapted to the implementation of our simple, comparable charging structure. We also made good progress with our review of historic ongoing service evidence and our cost and efficiency programme.
“We enter 2026 with confidence and the changes we have made, combined with our broader strategy to strengthen and grow SJP, leave us well placed to extend our long-term leadership in a highly attractive marketplace.”
See also: Budget speculation helps Quilter book record £2.4bn inflow
