Money and Finance

'Resilient' performance from Gloucestershire’s wealthiest business

Written by: Andrew Merrell | Posted 28 July 2020 6:42

'Resilient' performance from Gloucestershire’s wealthiest business

Considering where we are – in the depths of dealing with a pandemic – to be able to say cash into your business over the first six months of 2020 was £7.3 billion is no mean feat. 

We are, of course, talking about Cotswold-headquartered wealth management firm St James’s Place, which has just released its figures to the end of June. 

In its words, the data spells out a “resilient new business and financial performance”, although the inflow of funds is down slightly on last year’s £7.4 billion for the same period. 

Gross funds under management now stands at £115.7billion (31 December 2019: £117.0 billion). 

EEV new business profit stands at £365.3million (2019: £386.3million) and EEV operating profit £418.7million (2019: £465.7million). 

The firm said it was now represented by 4,324 qualified advisers across its partnership. 

It also said it felt it had managed a rapid and successful transition to remote working practises in response to the COVID-19 crisis and had “accelerated the pace of technology investment to facilitate digital processes across the group and partnership”.

Pictured: Andrew Croft, chief executive officer at St James's Place.