Wiki source code of St. James's Place plc

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5 = Summary =
6
7 * St. James's Place plc was founded in 1991 and is a wealth management business.
8 * It offers investment, retirement, protection, banking and mortgages, intergenerational wealth management, and advice for businesses.
9 * The company has £142.3 bn Funds under management.
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11 [[image:STJPF0.jpg||height="527" width="719"]]
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14 St. James's Place plc (LSE:STJ, OTC:STJPF) was founded in 1991 and is a  wealth management business. It offers investment, retirement, protection,  banking and mortgages, intergenerational wealth management, and advice for businesses.
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16
17 = Financial Highlights =
18
19 **Half Year Results 2022**
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21 Jul 28 2022; Results for the six months ended 30 June 2022{{footnote}}https://www.sjp.co.uk/insights-and-media/corporate-news/st-jamess-place-half-year-results-2022{{/footnote}}
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24 During the first half the company attracted £9.1 billion of new client investments as advisers continued to support clients in achieving their long-term ambitions despite a more challenging external environment. The importance of retaining a long-term mindset is also a key factor behind the continued strength of retention rates, which has underpinned net inflows of £5.5 billion, in line with the first half of 2021 and equivalent to 7.1% of opening funds under management on an annualised basis.
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27 While its new business performance has been strong, significant reversals in global investment markets have impacted its funds under management (FUM), which closed the half at £142.3 billion.
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30 During the first half the company attracted £9.1 billion of new client investments as advisers continued to support clients in achieving their long-term ambitions despite a more challenging external environment.
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32
33 * Gross inflows of £9.1 billion (2021: £9.2 billion)
34 * Continued strong retention of client funds at 96.5%
35 * Net inflows of £5.5 billion (2021: £5.5 billion), representing 7.1% of opening FUM (annualised)
36 * Group funds under management of £142.3 billion (31 December 2021: £154.0 billion)
37 * Underlying cash result £198.8 million (2021: £189.3 million)
38 * EEV operating profit £914.2 million (2021: £844.8 million)
39 * IFRS profit after tax £205.6 million (2021: £120.9 million)
40 * Interim dividend of 15.59 pence per share (2021: 11.55 pence per share), representing 30% of prior full year dividend
41 * St. James's Place is now represented by 4,626 qualified advisers across the Partnership, an increase of 70 year to-date
42 * EEV net asset value per share £15.74 (31 December 2021: £16.57)
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44 [[image:STJPF1.jpg]]
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46
47 = Industry Overview =
48
49 **The UK wealth market**
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51 Rising affluent wealth Despite the challenges presented by the COVID-19 pandemic, total UK retail wealth is large and growing, with third-parties suggesting that retail liquid assets alone account for some £3.6 trillion as at the end of 2021. Clients with around £50,000 to £5 million of investable assets are estimated to control around 70% of UK investable wealth alone, and that proportion increases when the company think about people either side of those thresholds who are also in its target marketplace. The company know that the market opportunity is even greater when the company consider personal pension assets and insurance-wrapped savings.{{footnote}}https://www.sjp.co.uk/sites/sjp-corp/files/SJP/reports-presentation/2022/sjp-annual-report-and-accounts-2021-april2022.pdf{{/footnote}}
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53
54 A little over half the personal wealth in the UK is controlled by savers between the ages of 45 and 64, and another third is in the hands of those aged 65 and above (source: ONS), showing the extent of asset decumulation the company can expect in the years and decades ahead, and the scale of intergenerational wealth transfer to come.
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57 Increasing demand for financial advice, the company estimate that there are around 12 million individuals in its target market in the UK, with around half already seeking financial advice. The company has seen many developments in the DIY investment platform market, as well as in robo-advice offerings, but demand for personal, face-to-face advice has continued to grow as people lacking the time, inclination or confidence to manage their financial affairs, seek help from a trusted adviser. The company expect demand for face-to-face advice to only get stronger.
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60 Demand for advice is increasing but there aren’t enough advisers in the UK to meet this, and the shortfall is likely to worsen as more and more experienced advisers approach retirement or sell their businesses. There’s already an ‘advice gap’ today and the company think this will widen.
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63
64 = Business Overview =
65
66 St. James's Place plc is in wealth management business. It offers investment, retirement, protection,  banking and mortgages, intergenerational wealth management, and advice for businesses.
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69 The company attract, retain and grow client FUM through offering service to the Partnership and clients. The company therefore pursue a simple growth and support strategy, built on clear and focused strategic objectives.
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71
72 == Locations ==
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74 St. James’s Place has a network of offices throughout the UK.{{footnote}}https://www.sjp.co.uk/locations{{/footnote}}
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76 * Aberdeen
77 * Belfast
78 * Bristol
79 * Cambridge
80 * Cardiff
81 * Cirencester
82 * Edinburgh
83 * Exeter
84 * Glasgow
85 * Leeds
86 * Liverpool
87 * London Canary Wharf
88 * London Elstree
89 * London Kingsway
90 * London Knightsbridge
91 * London Lombard Street
92 * Manchester
93 * Newbury
94 * Newcastle
95 * Nottingham
96 * Solent
97 * Solihull
98 * Weste
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100 The company also has offices in Hong Kong, Singapore and across Mainland China,
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102
103 == Products and services ==
104
105 The company offers followings.
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107 * Investment
108 * Retirement planning
109 * Protecting you and your future
110 * Private Clients
111 * Intergenerational wealth management
112 * Banking and mortgages
113 * Advice for businesses
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115 [[image:STJPF2.jpg]]
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117
118 == Company History ==
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120
121 The St. James’s Place Group was established in 1991 by Sir Mark Weinberg, the late Mike Wilson CBE and Lord Rothschild under the name of the J. Rothschild Assurance Group and started trading in 1992.
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124 In June 2000, Halifax Group plc acquired 60% of the issued share capital of St. James’s Place. Halifax merged with the Bank of Scotland in September 2001 to create HBoS plc. In October, the company changed its name from J. Rothschild Assurance to St. James’s Place.
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127 In January 2009, HBoS plc merged with Lloyds TSB to create ‘Lloyds Banking Group plc.'
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130 In June 2014, St. James’s Place acquired The Henley Group, one of Asia’s leading wealth management advice companies.
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133 In March 2016, St. James’s Place acquired Rowan Dartington to create the group’s discretionary fund management and stockbroking arm.
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135
136 = References =
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138 {{putFootnotes/}}
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