St. James's Place Plc · LSE:STJ
St. James's Place — H1 2017 Earnings Presentation
101 slides from St. James's Place's earnings presentation, Jul 27, 2017
Slide 1: Interim Results July 2017
= ST. JAMES’S PLACE WEALTH MANAGEMENT INTERIM RESULTS July 2017
Slide 2: David Bellamy, Chief Executive
DAVID BELLAMY Chief Executive
Slide 3: Agenda
Agenda New Business Update Financial Performance The Future Q&A
Slide 4: Half-year results quote
Half-year results ‘It’s an understatement to say that it’s been a very unusual and unprecedented six months with much volatility, increasing uncertainty, political hostility and a somewhat divided population’ ‘Nevertheless, we are a resilient bunch… and a month post Brexit, we are beginning to see s
Slide 5: Half-year results quote
Half-year results ‘It’s an understatement to say that it’s been a very unusual and unprecedented six months with much volatility, increasing uncertainty, political hostility and a somewhat divided population’ ‘Nevertheless, we are a resilient bunch… and a month post General Election, we are beginnin
Slide 6: Gross Inflows
Gross Inflows Up 30% at £6.9bn £12bn +23% £10bn +17% +16% £8bn +21% +30% £6bn +9% +9% +35% £4bn £2bn £0bn 2010 2011 2012 2013 2014 2015 2016 2017 June
Slide 7: Net Inflows
Net Inflows Up 40% at £4.3bn £8bn +17% +14% £6bn +20% +28% +40% £4bn +10% +4% +30% +34% -11% +31% £2bn £0bn 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 June
Slide 8: Funds under management
Funds under management Up £7.7bn at £83.0bn £90bn +10% £80bn +28% £70bn 83.0 +13% £60bn +17% £50bn +27% £40bn +22% +26% +6% £30bn +31% £20bn +29% +25% +18% -10% +20% £10bn +34% £0bn 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 June
Slide 9: Gross Inflows by quarter (£bn)
Gross Inflows by quarter (£bn) 2013 2014 2015 2016 2017 3.7 3.2 3.3 2.8 2.8 2.5 2.5 2.3 2.3 2.1 2.0 2.1 1.9 1.9 1.9 1.6 1.7 1.6 Q1 Q2 Q3 Q4 2013 over 2012 +28% +22% +27% +11% 2014 over 2013 +15% +17% +19% +12% 2015 over 2014 +12% +17% +20% +20% 2016 over 2015 +16% +23% +21% +30% 2016 over 2017 +32%
Slide 10: Gross Inflows by quarter & wrapper (£bn)
Gross Inflows by quarter & wrapper (£bn) UTs & ISAs up 32%, Pensions up 33% and Bonds up 20% YTD 1.2 1.2 1.8 1.5 0.6 0.7 13 14 15 16 17 13 14 15 16 17 13 14 15 16 13 14 15 16 Q1 Q2 Q3 Q4 Life Pension UT/ISA
Slide 11: Net Inflows by quarter (£bn)
Net Inflows by quarter (£bn) 2013 2014 2015 2016 2017 2.3 2.0 2.1 1.7 1.7 1.6 1.5 1.4 1.3 1.4 1.3 1.4 1.3 1.2 1.2 1.0 1.1 0.9 Q1 Q2 Q3 Q4 2013 over 2012 +29% +26% +41% +9% 2014 over 2013 +26% +20% +23% +14% 2015 over 2014 +9% +14% +17% +17% 2016 over 2015 +3% +25% +12% +26% 2016 over 2017 +46% +35%
Slide 12: Funds under management
Funds under management Up £7.7bn at £83.0bn £90bn +10% £80bn +28% £70bn 83.0 +13% £60bn +17% £50bn +27% £40bn +22% +26% +6% £30bn +31% £20bn +29% +25% +18% -10% +20% £10bn +34% £0bn 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 June
Slide 13: Drivers of growth
Drivers of growth NEW BUSINESS CAPACITY PRODUCTIVITY NUMBER OF ADVISERS NEW BUSINESS PER ADVISER Personal development Experienced recruitment Broadening investment portfolio Asia SJP Money Management Academy Discretionary Fund Management Next Generation Technical Connection Discretionary Fund Manage
Slide 14: Number of Advisers
Number of Advisers Up 3.7% at 3,540 advisers 4000 +10% +3.7% +10% 3000 +10% +13% +10% +6% +7% 2000 +9% +8% +10% 1000 0 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 June
Slide 15: Drivers of growth
Drivers of growth NEW BUSINESS CAPACITY PRODUCTIVITY NUMBER OF ADVISERS NEW BUSINESS PER ADVISER Personal development Experienced recruitment Broadening investment portfolio Asia SJP Money Management Academy Discretionary Fund Management Next Generation Technical Connection Discretionary Fund Manage
Slide 16: Adviser Productivity
Adviser Productivity Gross inflows per adviser up 19% £4m +7% +6% +4% £3m +9% +3% +0% £2m +19% £1m 2010 2011 2012 2013 2014 2015 2016 2017 June
Slide 17: Summary
Summary • Gross inflows up 30% • Net inflows up 40% • Funds under management at £83 billion
Slide 18: Andrew Croft, Chief Financial Officer
ANDREW CROFT Chief Financial Officer
Slide 19: Agenda
Agenda • Cash • EEV • Dividend • Solvency
Slide 20: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regulatory
Slide 21: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 22: Net annual management fee drivers
Net annual management fee drivers • Average annual management fee • New funds under management • Investment returns on FUM
Slide 23: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 24: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 25: FUM in gestation period
FUM in gestation period Year • c£26.8 billion of new business 2011 £1.1bn added in last six years, which is 2012 £2.9bn not yet generating positive cash £4.0bn earnings 2013 2014 £4.3bn • c.£206 million of post tax cash earnings per annum in future 2015 £5.2bn 2016 £6.1bn • c.£1.1bn of FUM emerging
Slide 26: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 27: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 28: Establishment Expenses
Establishment Expenses • Additional office space • Impact of the higher level of gross and net inflow
Slide 29: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 30: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 31: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 32: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 33: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 34: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 35: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Net annual management fee 297.8 235.7 +26% Reduction in fees in gestation period (130.0) (86.9) Net income from FUM 167.8 148.8 Margin arising from new business 59.4 20.5 Establishment expenses (73.6) (60.1) Operational development expenses (6.2) (5.6) Regula
Slide 36: Investments
Investments £’m H1 2017 H1 2016 Academy (3.3) (2.8) Asia (7.5) (3.2) DFM (2.8) (1.2) Strategic development costs (2.3) (1.5) (15.9) (8.7)
Slide 37: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Operating cash result 139.0 103.1 +35% Investments (15.9) (8.7) Underlying cash result 123.1 94.4
Slide 38: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Operating cash result 139.0 103.1 +35% Investments (15.9) (8.7) Underlying cash result 123.1 94.4 +30%
Slide 39: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Operating cash result 139.0 103.1 +35% Investments (15.9) (8.7) Underlying cash result 123.1 94.4 +30% Back office infrastructure development (8.2) (8.4) Variance (3.6) (3.5) Cash result 111.3 82.5
Slide 40: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Operating cash result 139.0 103.1 +35% Investments (15.9) (8.7) Underlying cash result 123.1 94.4 +30% Back office infrastructure development (8.2) (8.4) Variance (3.6) (3.5) Cash result 111.3 82.5
Slide 41: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Operating cash result 139.0 103.1 +35% Investments (15.9) (8.7) Underlying cash result 123.1 94.4 +30% Back office infrastructure development (8.2) (8.4) Variance (3.6) (3.5) Cash result 111.3 82.5
Slide 42: Post-tax cash result
Post-tax cash result £’m H1 2017 H1 2016 Operating cash result 139.0 103.1 +35% Investments (15.9) (8.7) Underlying cash result 123.1 94.4 +30% Back office infrastructure development (8.2) (8.4) Variance (3.6) (3.5) Cash result 111.3 82.5 +35%
Slide 43: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infrastruc
Slide 44: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 45: New business contribution
New business contribution • Initial margin less initial costs • Future annual management fees less maintenance costs • Lower maintenance costs x duration • Bluedoor financial benefits emerging via EEV but cash still to follow in future years
Slide 46: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 47: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 48: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 49: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 50: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 51: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 52: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 New business contribution 343.0 228.9 +50% Unwind of the discount rate 102.8 98.8 Experience variance 17.8 1.7 Operating assumption changes - - Investment income 3.3 2.9 Fund management business EEV operating profit 466.9 332.3 Investments & back-office infra
Slide 53: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 Operating profit 397.3 284.0 +40% Investment variance 214.1 168.8 Economic assumption change 11.5 (10.1) Pre-tax profit 622.9 442.7
Slide 54: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 Operating profit 397.3 284.0 +40% Investment variance 214.1 168.8 Economic assumption change 11.5 (10.1) Pre-tax profit 622.9 442.7
Slide 55: EEV operating profit
EEV operating profit £’m H1 2017 H1 2016 Operating profit 397.3 284.0 +40% Investment variance 214.1 168.8 Economic assumption change 11.5 (10.1) Pre-tax profit 622.9 442.7 +41%
Slide 56: NAV per share
NAV per share pence H1 2017 H1 2016 NAV per share 976.7 791.9 +23%
Slide 57: Dividends
Dividends • Interim dividend up 25% to 15.41p • Anticipate increasing the full year dividend by a similar amount • H1 dividend represents c. 70% of underlying H1 cash result • Dividend policy unchanged
Slide 58: Solvency
Solvency • Solvency managed to ensure assets held are in excess of: Client liabilities + Management Solvency Buffer • Our approach more cautious than SII position since no credit for VIF • Standard formula used to calculate SII SCR – no transitionals, matching or volatility adjustments
Slide 59: Combined Life Company Solvency Position
Combined Life Company Solvency Position £’m 30 June 2017 31 Dec 2016 Net assets in excess of client liabilities (A) 622.6 530.0 Management solvency buffer (B) (437.0) (437.0) Net assets in excess of MSB 185.6 93.0
Slide 60: Combined Life Company Solvency Position
Combined Life Company Solvency Position £’m 30 June 2017 31 Dec 2016 Net assets in excess of client liabilities (A) 622.6 530.0 Management solvency buffer (B) (437.0) (437.0) Net assets in excess of MSB 185.6 93.0
Slide 61: Dividend history
Dividend history Compound growth of c.25% per annum 35p +18% 30p +20% 25p +40% 20p +50% +25% 15p +33% 10p +33% +18% +2% +2.5% +33% 5p 0p 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 H1 2017
Slide 62: David Bellamy, Chief Executive
DAVID BELLAMY Chief Executive
Slide 63: Our approach to Investment Management
Our approach to Investment Management ‘INDEPENDENT EXPERTISE’ THE INVESTMENT Peter Win Davina Steven COMMITTEE Dunscombe Robbins Curling Daniels ‘MANAGES THE MANAGERS’ Decisions: Sets Risk Appoints the Change firm? performance management fund managers Change manager? objectives and strategy No chang
Slide 64: Our approach to Investment Management
Our approach to Investment Management 36 69 36 8 28 funds lead fund fund Asset exclusive managers houses classes strategies
Slide 65: SJP vs ARC Peer Group
SJP vs ARC Peer Group Year to 30 June 2017 8% 7.5 7% 5.5 5.8 6% 5.3 4.9 4.6 5% 4.5 4.5 3.9 4% 3.2 3.5 3.2 3% 2.6 1.9 1.9 1.9 2% 1% 0% Defensive Conservative Balanced Managed Adventurous Immediate Balanced Deferred Income Income Income SJP Portfolio ARC Sectors Source: FE Analytics, Asset Risk Consul
Slide 66: SJP vs ARC Peer Group
SJP vs ARC Peer Group Five years to 30 June 2017 14% 11.4 11.8 12% 9.6 10.1 10% 8.3 8.5 8.3 8.2 8% 7.3 6.6 6.5 6.5 6% 3.9 4.3 4.3 4.3 4% 2% 0% Defensive Conservative Balanced Managed Adventurous Immediate Balanced Deferred Income Income Income SJP Portfolio ARC Sectors Source: FE Analytics, Asset Ri
Slide 67: ARC Private Client Indices – Contributors
ARC Private Client Indices – Contributors
Slide 68: The St. James's Place Partnership
The St. James’s Place Partnership • 2,394 Partner businesses (3,540 qualified advisers) • Circa 20 years average industry experience 5% • 1,700 employees • 5,000 Partner support staff 2% 22% 4% 13% 4% 22% Overseas Partners: 9% 4% 15%
Slide 69: The St. James's Place Academy
The St. James’s Place Academy 100 expected to graduate this year 88 new entrants so far in 2017 (vs. 75 in 2016) Average age under 40 87% hold degrees 23% are women
Slide 70: Partnership development
Partnership development Business Business Transition Establishment Development Risk Acquisition Processing PARTNER PRACTICE Private Technical Business sale Training & Business Marketing Technology Clients Support & purchase Development Assurance
Slide 71: FCA's Assessing Suitability Review
FCA’s Assessing Suitability Review
Slide 72: FCA's Assessing Suitability Review – Market Results
FCA’s Assessing Suitability Review – Market Results Suitable 93.1%
Slide 73: FCA's Assessing Suitability Review – Market Results
FCA’s Assessing Suitability Review – Market Results Acceptable 52.9% Acceptable 39.5%
Slide 74: Technology
= My Practice My Practice is a new tool which provides Partners with insight into their individual practice. mui =. 3 iBusiness iBusiness is the next generation of Swift which is easier to use, more robust and offers new tools and features. Cyber Security Cybercrime is a major risk for us all, both
Slide 75: Increasing Complexity
Increasing Complexity • UK tax code is now some 20,000 pages long • Has trebled since 1997 • FCA Handbook ‘if printed out stands more than 6 feet tall’ Sources: City AM: “Our bulging tax code is holding Britain back: Politicians must fix this” March 2015, Financial Times: “Financial regulator says n
Slide 76: FSCS Levy
ST. JAMES’S PLACE WEALTH MANAGEMENT FSCS Levy Advisers slam levy increases as FSCS bills hit desks
Slide 77: St. James's Place Wealth Management
ST. JAMES’S PLACE WEALTH MANAGEMENT
Slide 78: Increasing Complexity
Increasing Complexity Shifting Sands of Pension Legislation Lifetime Allowance Annual Allowance 2006 Pension Simplification (A-Day) £1,500,000 £215,000 Introduction of the Lifetime Allowance (rising to £1.8m by 2010) 2007 £1,600,000 £225,000 2008 Announcement that LTA would freeze at 2010 levels for
Slide 79: Increasing Complexity
Increasing Complexity ISA Flexible Lifetime ISA ISA Inheritance Junior ISA ISA Innovative Help to ISA Buy ISA
Slide 80: Increasing Complexity
ST. JAMES’S PLACE WEALTH MANAGEMENT Increasing Complexity fe] eI] NEWS Over-65s in England ‘living longer than ever before’ FINANCIAL TIMES Pensions Industry Complex pension choices require expert advice FINANCIAL TIMES Higher-rate taxpayers hit record levels
Slide 81: Consistent Delivery
Consistent Delivery • Our investment approach • The St. James’s Place Partnership • The support they have behind them • The environment we work in
Slide 82: The SJP Marketplace
The SJP Marketplace UK individuals with between £50k and £5m Amount of investable wealth held by UK of investable wealth individuals with more than £50k but <£5m
Slide 83: Brexit
BREXIT • UK domestic business • Limited overseas exposure • Unaffected directly by trade agreements
Slide 84: AMMS & MiFID II
ST. JAMES’S PLACE WEALTH MANAGEMENT AMMS & MIFID II Markets in Financial Instruments Directive Il Implementation — Policy Statement II Asset Management Market Study Final Repc : me E )
Slide 85: AMMS & MiFID II
AMMS & MIFID II 90bps 43bps Average cost in the market* Average cost at SJP No new authorisations Already negotiate required largely institutional fund fees * Source: FCA Asset Management Market Study Interim Report
Slide 86: The Value of Advice
ST. JAMES’S PLACE WEALTH MANAGEMENT The Value of Advice
Slide 87: Client satisfaction
Would recommend Value for money 96% 98% Satisfaction with level of Partner contact Overall satisfaction 92% 94%
Slide 88: The value of Financial Advice
The value of Financial Advice
Slide 89: Value of advice report quotes
‘This report demonstrates the very real value of financial advice for the consumer.’ ‘…those who take advice are likely to accumulate more financial and pension wealth, supported by increased saving and investing in equity assets, while those in retirement are likely to have more income, particularl
Slide 90: Need for Advice
ST. JAMES’S PLACE WEALTH MANAGEMENT Need for Advice Retirement Outcomes Review Interim Report
Slide 91: St. James's Place Wealth Management
ST. JAMES’S PLACE WEALTH MANAGEMENT
Slide 92: Technology
ST. JAMES’S PLACE WEALTH MANAGEMENT Technology io) Total do 2016 Gwin ke ner roe area) a - . Investment wranper © D ° 288 Som [E252 - a on MO Wilby’
Slide 93: Bluedoor
ST. JAMES’S PLACE WEALTH MANAGEMENT BLUEDOOR DOOR WEALTH MANAGEMENT SOLUTION
Slide 94: Other Initiatives
Other Initiatives PRIVATE CLIENTS
Slide 95: Rowan Dartington
Rowan Dartington Over 12 months - Funds under Management up 35% - Investment Executives up 21% £2.0bn £1.8bn £1.6bn £1.84bn £1.4bn £1.57bn £1.2bn £1.0bn £0.8bn £0.6bn £0.4bn £0.2bn £0.0bn 2015 2016 2017 June
Slide 96: Other Initiatives
Other Initiatives PRIVATE CLIENTS PRIVATE BANKING PANEL CASH MANAGEMENT
Slide 97: Asia – Number of Advisers
Asia – Number of Advisers 110 102 86 51 2014 2015 2016 2017 (as at end of June)
Slide 98: Asia – Funds Under Management
Asia – Funds Under Management +24% +37% £814m £659m £482m 2015 2016 2017 (as at end of June)
Slide 99: St. James's Place Wealth Management
ST. JAMES’S PLACE WEALTH MANAGEMENT
Slide 100: St. James's Place Wealth Management
ST. JAMES’S PLACE WEALTH MANAGEMENT
Slide 101: Summary of Results
Summary of Results • Gross inflows up 30% • Net inflows up 40% • Adviser numbers up 3.7% • Funds under Management at £83bn • Embedded value operating profit up 40% • IFRS profit before tax up 32% • Underlying cash result up 30% • Interim dividend up 25%