St. James's Place Plc · LSE:STJ
St. James's Place — Investor Presentation (July 2025)
43 slides from St. James's Place's investor presentation, Jul 31, 2025
Slide 1: Investor Pack
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Slide 2: SJP – positioning for further success
SJP – positioning for further success Established Positioned to Sustainable Well-placed for Highly cash market leader benefit from and effective earnings growth generative, operating with structural market asset gathering as we deliver supporting growth scale advantage growth model scale operating a
Slide 3: Contents
Contents Overview: Market Our business Our new Appendix business opportunity in detail business and model and financial strategy performance 3
Slide 4: Overview: business model & strategy
Overview: busi model & $ aa VX. SJP
Slide 5: Our business model
Our business model Benefits Our clients: great outcomes for our 1 million+ clients delivered by combining financial advice with our distinct investment management approach Our Partnership: 4,952 highly qualified advisers, the largest professional financial adviser community in the UK Our shareholder
Slide 6: Our strategy
6 Our strategy OUR PURPOSE To empower clients with invaluable advice to realise bolder ambitions OUR STRATEGIC FOCUS AREAS Differentiated Leading Performance Brilliant Client Adviser Focused Basics Proposition Offering Organisation Simplify and standardise Drive empowerment, Enhance our client Conti
Slide 7: Brilliant Basics
7 Brilliant Basics What this means: We will simplify and standardise our operations, sharpening focus on delivering excellent client outcomes Initial priority areas 1 2 3 Leverage data to Drive awareness Drive standardisation provide enhanced of financial advice and simplification analytics, support
Slide 8: Differentiated Client Proposition
8 Differentiated Client Proposition What this means: We will enhance our client proposition, providing a quality offering across differing client segments Initial priority areas 1 2 3 Continue to broaden Develop our digital Enhance the our investment shelf channels, improving experience we provide t
Slide 9: Leading Adviser Offering
9 Leading Adviser Offering What this means: We will continue to be the best place to be a financial adviser in the UK, setting the standard for the future of financial advice Initial priority areas 1 2 3 Continue to refine our Continue to provide Evolve our Partnership Academy programme, a market le
Slide 10: Performance Focused Organisation
10 Performance Focused Organisation What this means: We will foster empowerment and accountability, evolving our culture and driving performance across our community Initial priority areas 1 2 3 Embed high performance Maintain a disciplined Optimise our cost base into our culture by driving approach
Slide 11: Market opportunity
Market opportunity SJP
Slide 12: The £3.3 trillion UK wealth management market: growing across all segments
The £3.3 trillion UK wealth management market: growing across all segments UK wealth market: by AUM segment UK wealth market: forecast development of AUM 2018-2030 2018-2030 Forecast Forecast £tn £tn 6 6 5 5 4 4 3 3 2 2 1 1 0 0 2018 2023 2030 2018 Outflows 2023 Outflows 2030 AUM AUM AUM Gross Asset
Slide 13: The market opportunity: rising demand for advice
The market opportunity: rising demand for advice Plethora of ‘Pension information and freedoms’ Intergenerational products flexibility wealth available transfer Perfect environment for client-focused Complexity of Growing UK pension and advice and advice business taxation rules savings gap
Slide 14: Our business in detail
Our business ity ai / SJP
Slide 15: The Partnership: why do advisers join and stay with SJP?
The Partnership: why do advisers join and stay with SJP? Strong Great client Strong products outcomes commercial and proposition Attraction and relationship retention Flexible business Comprehensive development corporate support
Slide 16: The Partnership: sustaining long-term growth
The Partnership: sustaining long-term growth Strong adviser retention Value of A sustainable long-term Mix of Academy pipeline for and recruitment Partnerships channels growth in the Partnership Average age 46 (lower than IFA market average of 581) Data as at 30 June 2025 1 Professional Adviser, 202
Slide 17: The Partnership: securing tomorrow
The Partnership: securing tomorrow through our 38 Average age Enables long-term client relationships; increases attractiveness to younger clients Academy +20% Proportion of Partnership trained by the Academy Refreshing our Partnership 27% Female advisers Contributes to Partnership diversity, support
Slide 18: The Partnership
The Partnership 4,952 highly qualified advisers Penetration throughout the UK, the largest professional financial adviser community Great client 2,701 independently run Partner practices outcomes drive Entrepreneurial, motivated, nimble strong productivity Superior technical support and adviser qual
Slide 19: The Partnership: investing in our future
19 The Partnership: investing in our future New and Utilisation of improved Partner lending to systems support business and tech development Targeted, data-led More shared field management servicing team support of clients
Slide 20: Our clients: snapshot
Our clients: snapshot 1 million+ 57 2% 6% Clients Average age Overseas clients 1% 54%/46% No ‘typical’ client - all want trusted, personal advice 3% 13% Male/female split 4% 15% 25% 10% Data as at 30 June 2025
Slide 21: Responsible Business Framework
Responsible Business Enhancing financial wellbeing for our clients, our people and our Framework communities Financial wellbeing Considering relevant ESG factors throughout our investment process, and engagement with Vision fund managers Purpose Culture Investing Climate responsibly change Taking ac
Slide 22: Technology at SJP
Technology at SJP Bluedoor Salesforce Data & AI Modern back-office Central customer Rich data universe £’bn administration system relationship management Data and AI integrated Enabling scalability and (CRM) system ecosystem efficiency within SJP Hyper-personalised service delivery and e
Slide 23: Our new business and financial performance
Our new business and financial
Slide 24: Net inflows: long-term track record
Net inflows: long-term track record £bn Complex and evolving 3.5 macroeconomic and geopolitical environment in H1 3.0 2025, but our business was very 2.5 resilient: Gross inflows of £10.5 billion 2.0 Net inflows of £3.8 billion 1.5 Retention remained high at 95.3%, excluding regular 1.0 withdr
Slide 25: Funds under management
Funds under management £bn >10% p.a. compound growth over the last 5, 10 and 15 years 200 180 160 140 120 100 80 60 40 20 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 H1 2025 Data as at 30 June 2025
Slide 26: Strong H1 2025 financials
Strong H1 2025 financials £240.4m £17.43 6p £95.5m1 Underlying cash EEV NAV per share, Interim dividend per Share buy-back result, up 17% on up 7% since share, in line with commencing in H1 2024 31 December 2024 guidance August 2025 Robust capital position 1 Includes £32.1m interim buy-back and £63.
Slide 27: Underlying post-tax cash result
Underlying post-tax cash result Underlying post-tax cash result of £240.4m, up 17% on H1 2024 £’m 500 450 Net income from FUM up 13%, 400 75.4 Up 17% driven by increase in average 350 155.0 mature FUM 300 38.1 8.0 250 Margin arising from new 200 366.1 business up, driven by strong 150 gross inflows
Slide 28: Cash result: other lines
Cash result: other lines Continued investment to develop our presence in AME £’m H1 2025 H1 2024 Increased investment in DFM driven by organisational design costs Net investment in AME (4.7) (4.5) Net investment in DFM (3.1) (2.3) Industry-wide FSCS levy increased in H1 2025 vs H1 2024, hence our co
Slide 29: Financial business model
Financial business model Key profit drivers are annual product management Gross inflows for most Gross inflows for unit charges on FUM investment bond and trust, ISA and DFM pension business 6 business As FUM grows, these charges years grow Complicated under our current charging structure by B
Slide 30: Highly cash generative: Gestation
Highly cash generative: Gestation £683.6m £388.1m Additional income Additional income 2018 net income Investment Lapses Other 2024 net income from maturing from new business not from FUM return from FUM gestation FUM going into gestation Waterfall gives an illustration of the growth drivers The bigg
Slide 31: Powerful picture of income growth
Powerful picture of income growth £51.1bn of gestation FUM at 30 June 2025 ◆ Will mature over the next 6 years Gestation New charging FUM at point of structure where we benefit from all ◆ Once all mature, could generate charging structure transition charges applying around £300m additional from day
Slide 32: EEV NAV per share
EEV NAV per share £ 20 EEV NAV per share of £17.43, up 18 7% since 31 December 2024 16 14 Excludes additional c.£270 12 million (or c.51 pence per share) 10 value of pensions business 8 falling outside of current 6 contract boundaries 4 2 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Slide 33: Shareholder returns
Shareholder returns Shareholder distribution guidance for H1 2025 shareholder returns: the years 2025 and 2026 set at 50% of Interim dividend of 6.00 pence the Underlying cash result. per share For 2025 and 2026, annual distributions Interim buy-back of £32.1 million expected to comprise:
Slide 34: Appendix
Appendix _ ae _/ | \ | \ |} - ) |e > | | | AZ YN | of of \ | \ \ J / / SJP
Slide 35: Our ESG commitments
Our ESG commitments Inclusion and diversity 40% female representation in senior roles by 2028 12% minority ethnic representation in our core employee base by 2028 10% minority ethnic representation across our Group Executive Committee and their direct reports by 2027 Net Zero by 2050
Slide 36: Investing our clients' money responsibly
36 Investing our clients’ money responsibly Responsible investment is embedded across our funds. Our 3-step process: 1. All fund managers must be PRI signatories 2. Monitor managers’ approach and work with them to improve 3. Use ESG data to monitor manager investments We’re a member of the Net-Z
Slide 37: Global investment management expertise
Global investment management expertise
Slide 38: Business Sale and Purchase (BSP) scheme
Business Sale and Advisers can realise the value of their businesses through our Purchase (BSP) scheme succession proposition Stakeholder benefits of the scheme: ◆ Supports the delivery of good client outcomes as they receive continuity of service within the SJP ecosystem ◆ Makes SJP a great place f
Slide 39: Our simple, comparable charging structure
Our simple, comparable charging structure Initial advice charges Ongoing charges Ongoing charges The same across all products ISAs and unit trusts Investment bonds and pensions 1 – 3% 1.59% 1.67% 0.80% 0.80% Tiered based on investment size and with flexibility in certain circumstances (see next slid
Slide 40: Our simple, comparable charging structure
Our simple, comparable charging structure Initial advice charge tiering: Ongoing product charge tiering: Initial advice Investment bonds and Ongoing product Consolidated case size charge pensions charge First £250k 3% First £500k 0.35% Next £250k 2% Next £500k 0.32% Amount over £500k 1% Next £1m 0.2
Slide 41: Polaris: the UK's fastest growing multi-asset fund range
Polaris 1 - Cumulative Performance Polaris 2 - Cumulative Performance (Unit Trust/ISA) (Unit Trust/ISA) Polaris: the UK’s 20% 30% fastest growing 25% 15% 20% 10% 15% multi-asset 5% 0% 10% 5% 0% fund range -5% -5% 11/2022 05/2023 11/2023 05/2024 11/2024 05/2025 11/2022 05/2023 11/2023 05/2024 11/2024
Slide 42: Analyst following
Analyst following Autonomous - Andrew Crean Deutsche Numis – David McCann Peel Hunt – Stuart Duncan Barclays – Larissa Van Deventer Exane BNP Paribas – Greg Simpson RBC – Ben Bathurst Bank of America – Andrew Sinclair Jefferies – Julian Roberts Redburn - Charles Bendit Berenberg – Stephen Barrett JP
Slide 43: Investor relations
Investor relations Caroline Waddington Hugh Taylor Chief Financial Officer Investor Relations Director Email: cfooffice@sjp.co.uk Email: hugh.taylor@sjp.co.uk www.sjp.co.uk/shareholders
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