Deal was announced in June this year
This year's ISA season was the strongest since 2002 with Q1 the best ever for net retail sales, according to IMA figures.
IFA consolidator Perspective Financial Group has reached £1bn of funds under advisory and management after acquiring its 14th adviser group Chessman & Partners.
St. James's Place is citing rocky world markets as the reason behind its £2bn loss in funds under management in 2008.
Funds under management in the UK still trail the sums achieved some five years ago, according to figures published by International Financial Services London.