St. James's Place gained another 300 new qualified advisers last year, it was revealed this morning.

A company report providing an update on financial performance included analysis of partner and adviser numbers.

This showed it has 3,415 qualified advisers, compared to 3,113 in 2015 – about a 10% rise.

The number of partner businesses has risen from 2,264 in 2015 to 2,378.

The company released data for the three months ended 31 December 2016. It reported:

• Gross inflow of funds at £3.3 billion was up 30% in the quarter, taking the total for the year to £11.4 billion, up 23%
• strong retention of client funds - 95%
• Net inflow of funds of £2.1 billion was up 26% in the quarter and 17% for the year at £6.8 billion
• Group funds under management of £75.3 billion up 28% for the year

David Bellamy, chief executive, said the figures reinforced “confidence in our strategy and the outstanding job our advisers do” and “the benefits of our distinctive investment management approach”.

He said: "I am delighted to announce that the momentum we reported in October continued into the final quarter. We achieved record flows which, together with characteristically high retention of clients and the strong investment returns they enjoyed, lifted funds under management to £75.3 billion.

“Despite challenging market conditions and some surprising political events, 2016 has been another record-breaking year for St. James's Place. We've achieved strong growth across all the key aspects of the business and I believe that we are better placed today for the opportunities that lie ahead than ever before."