St. James's Place flags strong start to 2025

(Sharecast News) - St. James's Place reported a strong start to 2025 on Thursday, with gross inflows rising to £5.14bn in the first quarter, up from £3.97bn a year earlier. The FTSE 100 firm said net inflows more than doubled to £1.69bn, compared to £0.71bn in the same period last year, reflecting improved client engagement and retention.

Its annualised net inflow rate as a percentage of opening funds under management increased to 3.6%, while the retention rate edged higher to 95.0%.

Total funds under management reached £188.59bn at the end of March, up from £179.04bn a year earlier.

"I am pleased to report another strong quarter for new business, once again demonstrating the strength of our advice-led business model and the trusted relationships our advisers build with clients," said chief executive officer Mark FitzPatrick.

"The external environment has been uncertain, but our advisers have reassured clients and helped them remain focused on their long-term financial goals and aspirations.

"Engagement levels have been high, and this has resulted in £5.1bn of new client investments during the quarter."

FitzPatrick said retention of funds under management remained strong at 95%, supporting net inflows of £1.7bn.

"A decline in global markets during the quarter impacted our funds under management, which closed the period at £188.6 billion.

"We are pleased to have built momentum in new business in recent quarters, and we have continued to see good levels of client engagement and activity so far in April.

"Looking forward, macroeconomic uncertainty and market volatility create a challenging environment for savers and investors, but one which underlines the value that trusted financial advice delivers to clients."

Reporting by Josh White for Sharecast.com.