The firm has also said it is launching two new funds.

St James’s Place Wealth Management, which operates in a number of jurisdictions including in Asia, has recorded a 20 per cent rise in funds under management for Q3 2017, which was logged at £85.69 billion ($112.9 billion) compared to same period in 2016 (£71.38 billion).

The company’s results, which showed nine months of 2017, ending 30 September, also reported a 29.6 per cent increase in gross inflows, from £8.07 billion in 2016 to £10.46 billion.

Net inflows also swelled during the period, which weighed in at £6.66 billion (2016: £4.73 billion). Net investment returns were down from Q3 2016 (£6.78 billion), as the firm logged a 41 per cent decrease, which stood, as of 30 September, at £3.99 billion.

These results come after this publication reported in July that Which? magazine had attended 12 undercover meetings with advisors from SJP and found it had failed to comply with transparency rules on the disclosure of charges, and as a result misled customers about the nature of their services.

The firm also said a new Japanese fund will be launched, and will be managed by Yoshihiko Ito of Nippon Value Investors, based in Tokyo, Japan. It also stated that a new global growth fund will be launched, comprising the investment strategies of current managers Magellan, EdgePoint, Sands Capital and Select Equity Group.