St James's Place encouraged by strong YTD new business activity
St James's Place
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0.46%
4.00p
Wealth management business St James's Place said on Wednesday that it was "encouraged" that strong new business activity experienced in March had continued into the second quarter.
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St James's Place stated the combination of improving client confidence and high levels of accumulated savings as a result of Covid-19 lockdowns had driven strong engagement between its advisers and their clients, resulting in gross inflows for the five months ending 31 May tracking roughly 23% higher year-on-year.
"While there remains uncertainty ahead given the ongoing pandemic, we are confident of another good year for St James's Place," said the FTSE 100-listed firm.
As of 0815 BST, STJ shares were up 0.69% at 1,383.50p.