Sanlam UK is to set up a new division encompassing its discretionary fund management and financial advice divisions and launch a partnership initiative for advice firms to join the group in a move that challenges St James’s Place’s existing model.
Fresh from an acquisition spree in the UK, wealth manager St James’s Place is taking its pioneering business model east in its next phase of growth.
Tilney Bestinvest’s “Spot the Dog” report names M&G Investments as the firm with the highest number of assets in underperforming funds and Aberdeen Asset Management as the fund house with the most ‘dog funds’.
St. James’s Place reported a record £1bn of gross inflows in March, increasing the group’s funds under management to £62bn.
Providers expecting the reduced lifetime allowance (LTA) to spur offshore bond sales to UK residents are guilty of “wishful thinking” according to a number of distributors, who are failing to see any increase in appetite.
With the tempo of pension reforms unlikely to slow, there are sure to be new pitfalls to avoid. But according to St James’s Place there are five retirement planning fundamentals that will remain. Use the arrows on the images below to find out what they are.
Announcing strong results for the full year, St James’s Place said it is planning a new office in Canary Wharf, following the completion of the Rowan Dartington acquisition.
The UK’s Investment Association has broken up its regulatory affairs unit and announced the departure of its head, Richard Metcalfe, as another member confirmed it also planned to leave.
St James’s Place has faced many challenges in new international territories which have provided the blueprint for further overseas expansion, says its commercial director Iain Rayner.
St James’s Place Asia, the re-branded The Henley Group, has seen 40% growth in the number of partners and advisers based at its three offices in the region.
Advisory network giant Sesame has topped the list again for being the most complained about advice firm in the UK, data from the Financial Ombudsman Service reveals.
Rowan Dartington’s acquisition by UK wealth manager St James’s Place for £34m in cash will boost the appeal of its platform, Ardan International, to financial advisers and help expand its business in Asia, the company’s chairman said.
