SJP sees flows jump 28% in first year post-RDR

Wealth manager St James's Place (SJP) saw net inflows of £4.3bn in 2013, a 28% year-on-year rise.

Funds under management (FUM), meanwhile, rose by £9.5bn to a record £44.3bn last year. Net flows, combined with the movement of the world's stock markets - almost 50% of the group's FUM is in either UK or US equities - helped the business achieve the figure, which is up 27% on 2012. New business on an APE basis - most of it investment business - climbed 20% to £762.9m. Elsewhere, the group said it had maintained a 95% client retention rate and, over the year, had grown adviser numbers almost 10% to 1,958. SJP chief executive David Bellamy said there was a "reassuring consistency...