SJP reports £9bn inflows in 'challenging' year for UK wealth managers

The inflows, as well as positive market movements, contributed to a 22% increase in funds under management to a record £117bn as of 31 December 2019. However, more modest inflows and higher costs of investment in the business have hit profits for the year, with IFRS profit before shareholder tax coming in at £187.1m versus £211.9m in 2018. Andrew Croft, CEO of SJP, said: "Last year was challenging for the UK wealth management sector with investor sentiment being impacted by uncertain macro-economic indicators, the US/China trade dispute, and the domestic political environment. "The...