Rowan Dartington, a subsidiary of St James’s Place (SJP), made another loss of £10.3 million in the 2019 calendar year (2018: £11.1 million), despite an £11 million capital injection from its parent.

The wealth manager, which also runs money on behald of SJP, grew funds under management 26 percent over the year to £2.65 billion, and said that “after a period of increasing losses due to conscious investment in future growth plans” the trend had started to reverse.

Turnover also grew – by about 16 percent to £17.3 million – however cost of sales was also up by just under 10 percent to £16.5 million. Admini...