Wealth manager St James’s Place has today reported a £1.19bn drop in net inflows in its third quarter compared to the same period in 2025.
The company said in a trading update that net inflows had dropped considerably during a period of marketing volatility and in comparison with relatively high figures the previous year.
Net inflows in the quarter fell by nearly £1.2bn to £0.57bn while gross inflows were down by £500m to £5.15bn.
On the more positive side, funds under management reached a record £242.4 billion in Q3 (Q3 2025: £212.36bn)
SJP CEO Mark FitzPatrick said the relative reduction in flows was partly due to a very strong quarter last year which benefited from high levels of activity linked to a new charging structure introduced by the firm.
He said net inflows were lower than the prior year and outflows were “broadly stable.”
He said the company had simplified the business over the past year and improved efficiency, providing greater capacity to invest in future.
Mr FitzPatrick said in a statement on the update: “During the period, our advisers have been active supporting clients through market volatility and providing guidance ahead of the Autumn Budget. Against this backdrop, we attracted £5.2 billion of gross inflows during the quarter, bringing total gross inflows to £15.6 billion year to date.
“While lower than the exceptionally strong comparative period last year, which benefited from high levels of activity linked to the implementation of our new charging structure, the quarter demonstrated the continued strength of our partnership.
“Another quarter of net inflows, together with positive investment returns for clients, saw funds under management reach a record £242.4 billion (Q3 2025: £212.36bn)
Net inflows were lower than in the prior year, reflecting the strong comparative period. Outflows were broadly stable relative to funds under management, with client retention remaining high at 95.1% year to date, the firm said.
He added that the company would continue to invest in areas that will drive future growth, including, “enhancing the proposition and experience for clients”, strengthening support and using technology and AI to improve productivity across the business.
He said he remained confident in the “significant long-term opportunity for financial advice in the UK” and in SJP’s ability to benefit from growth. He said he would provide more detail at SJP’s full-year results in February.”