![\"St](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/07\/1107-St.-Jamess-Place-1.jpg\")
\t\tSt James’s Place saw a drop in inflows but boosted customer numbers\t<\/p>\n\t\t\tWednesday 29 July 2026 10:05 am\n\t\t\t<\/p>\n
\t\tSt James’s Place saw a drop in inflows but boosted customer numbers\t<\/p>\n
St James\u2019s Place took a \u00a31bn hit to net inflows in the first half of the year as investors pulled cash from its funds to dodge market volatility and a looming pension tax bill.<\/p>\n
Net inflows declined from \u00a33.8bn to \u00a32.7bn in the first half of the year, in line with analyst expectations. The group pinned the decline on market uncertainty coupled with \u201cimpending changes\u201d to the retirement and financial planning landscape.<\/p>\n
From April 2027, pensions will fall within the scope of inheritance<\/a> tax leading to savers opting to take money from their pots before the 40 per cent levy takes effect.<\/p>\n Profit before tax also took a hit as the company overhauls its fee structure, falling to \u00a3278.4m from \u00a3307m the prior year. Key changes included separating charges into components and removing early withdrawal charges on pensions and bonds.<\/p>\n The group also decided to pay advisers ongoing advice fees on a monthly basis rather than annually as of next March.<\/p>\n The FTSE 100 group announced an interim ordinary dividend of 6p per share and a fresh share buyback programme totalling \u00a3128.1m.<\/p>\n Shares declined 3.9 per cent in morning trading to 1,042p. The stock is down 26.8 per cent since the start of the year.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tFTSE 100 Live: Stocks jump; US fires back at \u2018surprise\u2019 Iran attacks<\/a><\/p>\n \tAdvice and retention<\/p>\n