SJP hits recruitment trail after sales jump

Wealth manager St James's Place (SJP) has stepped up recruitment activity ahead of implementation of the Retail Distribution Review (RDR) and on the back of the withdrawal of some advisory firms from the market.

The London-based group said it was continuing to add to its adviser numbers at a time when, with low interest rates and increasing life expectancy, the need for "trusted face-to-face advice" was essential. It also noted that other companies had withdrawn from the advice market. It comes as SJP reported a buoyant quarter for new sales and funds under management. The group recorded an 8% increase in new business for the three months to 30 September and said it was on track for full-year growth of 7-8%. New pensions business was responsible for much of the increase, while the compa...