Fourth quarter new business announcement
New Business up 23% with total single investments of £3.4 billion
St. James’s Place plc (“SJP”), the wealth management group, today announces its new business figures for the year 2007.
The Headlines for 2007 are:
- New Business up 23%
- New Single Investments of £2.4bn up 27%
- New Pensions Single Investments of £1bn up 33%
- Funds under Management at £18.2bn up 18%
- Partnership numbers at 1,251 up 8%
Mike Wilson, Chairman, commented:
“We are delighted with the continued growth in new business which was up 23% for the full year despite challenging market conditions. A particular highlight was total new single investments of £3.4bn, up 28%.
“The size of the St. James’s Place Partnership grew by 8% during 2007 to 1,251, the highest growth since 1999.
“Despite continued market uncertainty there remains a growing demand for advice and we are very well positioned to capitalise on this. We believe that the strength, quality and the increase in size of our team of advisers, the St. James’s Place Partnership, gives us a major competitive advantage in the UK wealth management market.
“Our longer term growth target for new business remains 15-20% per annum.”
The detail of the announcement is attached:
|Mike Wilson, Chairman
||Tel: 020 7514 1907|
||Tel: 020 7404 5959|
View the full press release.
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