SJP eyes discretionary offering in HNW push

Wealth manager St James's Place is considering a discretionary fund management (DFM) offering to land high net worth (HNW) clients.

Following the firm's half-year results last week, chief executive David Bellamy said a HNW proposition - for clients with £500,000 or more in investible assets - was "an important distinction to make as SJP moves forward". "[We're] accessing different sorts of clients and those clients we do business with who want a different sort of proposition as part of their portfolio," he said. "Some want discretionary fund management and, in some cases, banking products like 90-day money or one-year money on deposit. That's where we can deepen the relationship with existing clients and attract n...