Demand for pensions and savings products helped wealth management group St James’s Place hit net inflows of £2bn for the three months ended 31 March 2017.
Gross inflows were up 32% to £3.2bn and gross inflows into pensions came in at £1.5bn, up from £1.2bn in the comparable quarter.
Group funds under management were £79.84bn (2016: £62.02bn).
Chief Executive David Bellamy said: “I am pleased to report another strong quarter of growth. Building on record flows in 2016, total gross inflows for the quarter were 32% higher which, supported by the continued high retention of clients and their investments, resulted in net inflows of £1.99 billion for the quarter, taking Group funds under management to a little under £80 billion.
“At the beginning of the year I said we were better placed for the opportunities that lie ahead than ever before and these gross and net inflow figures reinforce that confidence.
“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. 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.”
