St James's Place reports strong increase in new business, AuM

(Sharecast News) - St James's Place reported a strong increase in new business and assets under management for 2025 on Thursday, supported by higher inflows, solid client retention and favourable investment returns.

Gross inflows rose to £21.88bn from £18.41bn a year earlier, while net inflows increased 42% to £6.16bn.

Net investment returns totalled £23.64bn, up from £17.68bn in 2024, reflecting returns equivalent to 12.4% of opening funds under management.

Closing funds under management reached a record £220.01bn at the end of December, up 16% year on year, with a retention rate of 94.9%.

"I am pleased to report a strong year for SJP," said chief executive Mark FitzPatrick.

"Our advisers attracted £21.9bn of new business, up 19% year-on-year.

"Combined with high retention of 94.9%, we achieved net inflows of £6.2bn, up 42% year-on-year."

He added that investment performance delivered returns representing 12% of opening funds under management, helping lift funds under management to a record high.

SJP said new business patterns during the year were influenced by client behaviour around fiscal and regulatory developments.

The FTSE 100 company said the final quarter saw heightened client engagement earlier than usual amid speculation ahead of the Autumn Budget, followed by a slowdown later in the period after the implementation of a new charging structure.

Short-term outflows also increased as some clients brought forward tax-free cash withdrawals from pensions in anticipation of potential changes to allowances, although the company said outflows and engagement had normalised by the end of the year and into early 2026.

FitzPatrick said the group had made progress strengthening its business during 2025, including adapting to the new charging structure, advancing its review of historic ongoing service evidence and continuing its 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," he said.

At 0930 GMT, shares in St James's Place were up 1.83% at 1,533p.

Reporting by Josh White for Sharecast.com.

St James's Place