Wealth manager St. James's Place (SJP) has said the secret to its ever rising assets is a client base who are staying invested later in life, as it reported funds under management (FUM) rose 22% in the last 12 months.
The firm said it now holds £55.8bn in client funds, up from £45.8bn last year. SJP said FUM is already up 7% since the start of the year, with net inflows 9% higher at £1.3bn. Chief executive David Bellamy said the figures represent a trend for clients to stay invested "as long as possible". During the first quarter of the year, the firm said it received feedback from 47,000 clients in response to its annual Wealth Account Client Survey. The findings, it said, pointed to the majority putting ensuring they have enough to live on in retirement as their highest priority. They also...
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