St James's Place shares fall as net flows fall; confident in long-term
St James's Place PLC on Wednesday said the financial advice industry in the UK was "under-penetrated" as it posted a fall in net inflows and maintained its dividend.
The Cirencester, Gloucestershire-based financial advice and wealth management company said net inflows fell by 56% in the first half of 2026 to £2.74 billion from £6.16 billion at December 31, 2025. They were 28% lower than £3.83 billion a year ago.
Pretax profit rose 92% to £968.2 million from £505.4 million, as fee and commission income climbed 47% to £2.29 billion from £1.56 billion.
Pretax profit attributable to shareholders' returns was up 14% at £418.5 million compared to £367.9 million.
Investment return rose sharply to £19.26 billion from £5.32 billion. The cost from movement in investment contract benefits increased to £19.20 billion from £5.28 billion.
St James's Place maintained an interim dividend of 6.00 pence per share. Further, in the first half of 2026 it bought back £45.3 million in shares, up 41% compared to £32.1 million a year prior.
The firm added it will start a share buyback programme of up to £45.3 million and an additional share buyback programme of £82.8 million in August.
Chief Executive Officer Mark FitzPatrick said: "Looking forward, we remain confident in the long-term outlook for financial advice, which is under-penetrated in the UK. As the industry evolves, clients will demand trusted advice, high-quality service, strong investment solutions and modern technology. St James's Place combines the personal relationships of a local adviser with the scale, expertise and security of the UK's leading financial advice business. We continue to invest in enhancing that proposition for both clients and advisers, and believe this increasingly differentiates St James's Place and positions us well to capture the growth opportunities ahead."
St James's shares shares fell 1.0% to 1,074.30 pence each on Wednesday morning in London.
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