(Sharecast News) - Wealth manager St James's Place reported record funds under management in the third quarter, though softer net inflows and a lower retention rate versus last year were likely to draw investor attention.
St James's Place said closing FUM reached £242.4bn, up from £212.4bn a year earlier, supported by positive investment returns and another quarter of net inflows, albeit reduced to £570m from £1.76bn in Q3 2025.
Gross inflows, however, slipped to £5.15bn from £5.70bn, reflecting the unusually strong comparative period linked to last year's charging‑structure changes.
Year‑to‑date retention remained high at 95.1%, broadly stable, while annualised net inflows as a share of opening FUM eased to 2.0% from 3.9%.
Across product lines, St James's Place said pension FUM rose to £133.31bn, investment bonds to £47.42bn and UT/ISA and DFM to £61.71bn, with total net inflows for the nine‑month period at £3.31bn. Net investment return contributed £19.12bn year‑to‑date, offsetting higher surrenders and part‑surrenders, which totalled £8.42bn.
Chief executive Mark Fitzpatrick said advisers had remained active through market volatility and ahead of the Autumn Budget, adding that the partnership continued to demonstrate resilience despite the tough comparator. He highlighted ongoing investment in client proposition, technology and AI, and said SJP remained confident in the long‑term growth opportunity for UK financial advice, with further strategic detail to come at February's full‑year results.
As of 1000 GMT, St James's Place shares were down 3.91% at 1,070p.
Reporting by Iain Gilbert at Sharecast.com
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