UK's largest wealth manager St James's Place 'has bright future' after bumper trading update

Analysts at Panmure Liberum are optimistic about the prospects for wealth manager St James's Place following the firms third-quarter trading update released yesterday.

St James's Place, the UKs premier wealth manager, posted impressive results with gross inflows hitting £4.4bn over the three-month period to September, surpassing expectations from the City and reflecting a 20% increase compared to the same period in the previous year, as reported by City AM.

As the quarter concluded, managed funds increased to £184.4bn, up from £181.9bn in the preceding quarter, outpacing consensus estimates as well.

"Clients continue to put their trust in St James's Place," wrote the analysts at Panmure Liberum.

They also touched upon impending changes in the wealth management sector that could arise from alterations the Chancellor might introduce in the Budget targeting pension pots and inheritance tax reliefs