£4 billion flows through doors of Gloucestershire’s biggest business in three months

Acknowledging the impact of the pandemic on its business, Cotswold-based wealth management firm St James’s Place also revealed a record year.

By Andrew Merrell  |  Published
Andrew Croft, chief executive officer of St James's Place
Andrew Croft, chief executive officer of St James's Place

The boss of St James’s Place was referring to the impact of Covid-19 when he called 2020 ‘an extraordinary year’, but he might have been referring to the Cotswold firm’s balance sheet.

The Cirencester-headquartered wealth management firm saw ‘gross inflows’ for its last quarter total £4.02 billion – one per cent up against the same period in 2019.

However, when viewed over 12 months the FTSE firm’s funds undermanagement topped a record £129.34 billion (up 11 per cent), which is the figure that means that St James’s Place is often referred to as the county’s biggest business – if you accept this as ‘turnover’.

Andrew Croft, chief executive officer at St Jame’s Place, said: ‘In the final quarter (ending 31 December 2020) of what can only be described as an extraordinary year for individuals, families, business and broader societies across the world, I am pleased to report that St James’s Place delivered another robust set of new business results.’

St James’s place currently has 4,338 advisers on its books. As a result of the ongoing pandemic the firm said it had ‘decided to slow the pace’ of its recruitment activity and ‘paused the intake’ to its academy programme.

By Andrew Merrell

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