St James's Place (SJP) has rejected accusations that the company is sales-driven.
The wealth manager announced it had increased sales by 10% in Q4 2011, in a statement to the London Stock Exchange this morning.
But chief executive David Bellamy said the belief among some independent advisers that the company put sales targets above its clients is "fundamentally wrong".
"Small IFAs are misguided in their perceptions of St James's Place," he told IFAonline.
"When we launched this business 20 years ago, we said the focus of our attention would be good old-fashioned advice. We've stuck with that for the last 20 years."
SJP has no plans to abandon its commission-driven business model, Bellamy said.
"The whole commission debate has been going on because product providers have steadily increased commission over the last 15 years in order to attract market share. We don't play that game.
"We attract business because clients like what we do, and we reward our partners for attracting it. What we do is not quite what people perceive."
Bellamy told IFAonline that SJP was planning to double funds under management in the next five years to almost £60bn. With currently about 2% of investment market share, SJP were still "relatively small", he said.
The company also plans to continue its recruitment drive despite the pressures of RDR. Its reputation amongst IFAs was becoming "increasingly good", Bellamy argued, leading to a rise in advisers abandoning their independent status to join SJP.
"[RDR help] is one of the reasons people join us," he said. "It's an impetus to seek some help and come inside the organisation."
The company announced that 80% of its advisers has passed QCF Level 4 exams, with 11% "within one or two exams". Of the 9%, half have joined within the last 12 months. "They haven't joined to step off at the end of next year," Bellamy said, meaning its staff retention rate in 2013 would be "95% plus".
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