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th May 2021 3:08 pm
St James’s Place will be looking to welcome around 400 people into its academy annually from 2022 by making better use of online training and its existing locations.
Previously the company had been able to have an intake of about 250 a year in a face to face classroom set up.
Pre-pandemic the academy training programme was in four locations: London, Solihull, Manchester and Edinburgh.
But from next year it will look to have a mix of face to face and online training, combining technology with its 21 locations in towns and cities across the UK.
The average age of the academy intake is 34 and is predominantly made up of second careerists but also includes a blend of people who have already been involved in financial advice in some capacity.
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Funds under management swell to a record £135bn at St James s Place
Investors were more willing to invest withwealth manager St James s Place as fears of a global economic collapse subsided (Getty Images)
Funds under management at St James’s Place have reached a record high and strong inflows in the first quarter it said this morning, as government spending and Covvid-19 vaccination drives positive investor sentiment.
Funds under management jumped to £135bn at the end of March, surpassing the previous record of £129bn it touched in 2020.
Net inflows were at £2.9bn, compared with £2.4bn a year earlier.
“The moderate growth in new business that we saw in the early weeks of 2021 gathered pace through the quarter as confidence improved and clients sought to commit accumulated savings to longer-term investments,” boss Andrew Croft said.
SJP reports record Q1 as AUM reach £135bn
Q1 business update
Andrew Croft: These results demonstrate once again the unerring commitment of the partnership and our entire community to ensuring clients receive the highest quality advice and service.
St James’s Place (SJP) has reported a record first quarter with assets under administration (AUM) reaching £135bn.
Gross inflows for the three months to 31 March were £4.79bn and net inflows stood at £2.90bn, it said.
Chief executive Andrew Croft said: The moderate growth in new business that we saw in the early weeks of 2021 gathered pace through the quarter as confidence improved and clients sought to commit accumulated savings to longer-term investments.