St James's Place Q1 gross inflows up 32%

Wealth manager St James's Place said first quarter gross inflows rose 32% to £3.23bn with net inflows up to £1.99bn from £1.36bn.

Group funds under management rose to £79.84bn from £62.02bn.

Chief executive David Bellamy said high client retention had contributed to the strong result.

“Looking ahead, whilst political and macro uncertainties persist, the more immediate concern for many people relates to personal financial matters, particularly in relation to long term savings, protecting and preserving wealth, tax and intergenerational planning,” he said.

“In this regard, the scale and quality of our relationship-based and advice-led approach to the management of our clients' financial affairs, together with our investment management proposition, means we are increasingly well placed to meet this growing need for trusted advice."