The Bristol-headquartered wealth manager said today funds under management have crossed the £1.5bn ($1.8bn, €1.6bn) line for the first time – representing an increase of 60% in two years.
It said growth in funds from SJP had been a factor, while its own private client private client proposition, Signature for IFAs, Stafford House Investments, and most recently Rowan Dartington International, have all contributed to its progress this year.
In March, executive chairman Graham Coxell told Portfolio Adviser he planned to near double assets under management over the next two years – with the SJP deal expected to add in the order of £500m in new assets per year.
Today, Coxell reported that since achieving regulatory approval for the acquisition in March, around 10% of the SJP partnership – approximately 350 partners – has been accredited to offer DFM services.
“Our core business, prior to the ‘SJP effect’ is growing very strongly, so we know it’s a good one in the market place. We’ll start to see the impact of the SJP acquisition in a more meaningful way going into 2017.”
With SJP’s backing, Rowan Dartington has been focusing on developing its national presence with hires in Leeds, Ipswich, Liverpool and Manchester, while its Asia-based International arm launched in September.
“This increased activity since the acquisition is reflective of the firm’s ambition to best serve our private clients, the partnership of St James’s Place and intermediaries in the UK and abroad, all key to delivering sustained growth in the future,” added Coxell.