St. James's Place plc (STJ) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our 2025 half-year results. It's been a very successful first half for St James' Place. We've delivered double-digit earnings growth and record funds under management, all while making substantial progress on our key programmes of work. This performance reflects the strength of our business model, the quality and resilience of our advisors, and the continued demand for trusted financial advice. I'm going to talk through some of the business and financial highlights, then Caroline will cover the financials in more detail. I'll then update you about our priorities as we look to the second half and beyond. So let's begin with the strong first half we've just delivered. it was a period where the backdrop for consumers continued to be complex and evolve. More positively, mortgage rates are coming down rather than going up, and interest rates are expected to trend lower over time. On the other hand, we're seeing sluggish economic growth across major economies. Stock markets have been volatile, consumer confidence is fragile, and geopolitical tension has been on the rise. Putting all this together, it's a tricky environment for a UK consumer. How can they plan with confidence when there's so much uncertainty? The answer for many is holistic financial advice delivered by a trusted, highly qualified professional financial advisor with whom they have a long relationship. Advisors can help their clients navigate a sea of uncertainty and make sense of markets. They help them block out the noise and encourage the right long-term behaviors to guide them on the way to financial freedom and flexibility. And they help their clients to stay in control of their financial affairs and remain well informed as pensions and saving landscapes shift over time. I be...