Profits after tax at St James’s Place were £398.4m last year compared to a 2023 £9.9m loss, latest results show, while the firm added its multi-million pound ongoing service review was a work in progress.
Results for the year ended 31 December 2024 also showed a post-tax underlying cash result of £447.2m compared to £392.4m in 2023. This was up 14% year-on-year despite charge structure implementation costs headwind, the wealth management business said. The firm posted gross inflows of £18.4bn compared to 2023's £15.4bn and net inflows represented 2.6% of opening funds under management (2023: 3.5%). Its results from last year revealed the advice giant had made a £426m provision to refund clients for ongoing advice charges. Today's results said its historic ongoing service evidence...
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