SJP sales up 10% as partners near RDR readiness

St James's Place (SJP) welcomed £5.2bn worth of new single investments in 2011 as the wealth manager boosted total funds under management to £28.5bn, up 6% over the year.

New single investments were up 10% from the previous year's £4.75bn, while SJP saw a 20% jump in new pensions business to £288m. Total new business on an APE basis was £642.3m, up 10% on the £581.8m recorded in 2010. The group saw a net inflow of FUM of £3.3bn for the year, up on 2010's £3bn, with 95% of existing clients' funds retained. CEO David Bellamy said he was "very pleased" with the results, but he reserved particular praise for the progress of the company's partners as they attempt to meet the new minimum qualification requirement as set out under the RDR. SJP, which sa...