LONDON (dpa-AFX) - St. James's Place PLC (STJ.L), a British financial adviser and wealth manager, on Thursday reported a surge in net inflows for the third quarter.
Mark FitzPatrick, CEO of St. James's Place, said: 'Gross inflows for the third quarter were £5.7 billion, up 30% on Q3 2024, reflecting both strong demand for financial advice and high levels of client engagement and activity ahead of the implementation of our new simple, comparable charging structure in late August. High retention of funds under management has driven net inflows to £1.8 billion, up 98%.'
For the three-month period to September 30, the company recorded net inflows of GBP 1.76 billion, higher than GBP 0.89 billion in the same period last year. Gross inflows stood at GBP 5.70 billion as against the prior year's GBP 4.40 billion.
Opening funds under management were GBP 198.50 billion, compared with GBP 181.86 billion in the previous year. Closing funds under management were GBP 212.36 billion, higher than GBP 184.40 billion in the previous year.
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