St James' Place has reported a fall in profits for 2015, despite record gross inflows of £9.2bn, as the group was impacted by a £14.2m increase in its levy to the Financial Services Compensation Scheme (FSCS).
The wealth manager said underlying profits for 2015 were £163.7m compared to £173.6m for the previous year, while profits before shareholder tax were £151.3m, down from £182.9m in 2014. These figures were impacted by the increase in FSCS charges and "by the negative £21.7m change in the movement of certain accounting intangible assets and liabilities." St James's Place buys Rowan Dartington for up to £34m However, despite this and a turbulent time for markets, the group saw record gross inflows of £9.2bn up 17% on 2014 which saw £7.9bn of flows. Net inflows of funds under managemen...
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