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St James's Place results: eight important features

Andrew Croft’s inaugural annual presentation as chief executive of St James’s Place was never likely to yield many changes

Andrew Croft’s inaugural annual presentation as chief executive of St James’s Place was never likely to yield many changes: a cash dynamo at the heart of the firm will keep spinning, was the take-away.  

Nonetheless, a close reading of the results beyond the 32% rise in headline pre-tax profit to £181 million is repaid with some insights on the underlying velocity of the business.

The date for the full integration of the Bluedoor backoffice software upgrade has been pushed to 2019, and until then the company said it was facing additional parallel running costs of dual systems.

Croft made a convincing fist of explaining why this was due to good reasons however, as the sheer volume of client assets to be managed across has doubled since the project was initiated, however.

The company increased investment in Rowan Dartington by almost 50% last year to a total £21.7 million, primarily on tech costs. The company said it is also likely to add to the unit’s headcount in the immediate future, as it increases capacity to meet an expected increase in client funds.

Read on for a selection of charts from this year’s presentation

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Andrew Croft’s inaugural annual presentation as chief executive of St James’s Place was never likely to yield many changes: a cash dynamo at the heart of the firm will keep spinning, was the take-away.  

Nonetheless, a close reading of the results beyond the 32% rise in headline pre-tax profit to £181 million is repaid with some insights on the underlying velocity of the business.

The date for the full integration of the Bluedoor backoffice software upgrade has been pushed to 2019, and until then the company said it was facing additional parallel running costs of dual systems.

Croft made a convincing fist of explaining why this was due to good reasons however, as the sheer volume of client assets to be managed across has doubled since the project was initiated, however.

The company increased investment in Rowan Dartington by almost 50% last year to a total £21.7 million, primarily on tech costs. The company said it is also likely to add to the unit’s headcount in the immediate future, as it increases capacity to meet an expected increase in client funds.

Read on for a selection of charts from this year’s presentation

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