The London-based wealth management company is making changes to its new business and funds under management reporting methods.

UK wealth manager St James’s Place has announced it will be simplifying its business reporting going forward to better suit the nature of the wealth management business.

Previously, St James’s Place reported its new business using the wealth management measure of fund flows and the life assurance measure of Annual Premium Equivalent.

“As the APE measure no longer reflects the nature of our wealth management business nor accurately reflects the shareholder value added, we have decided to simplify our new business reporting going forwards,” St James's Place said in a statement.

The company's new basis of reporting will reflect gross and net inflows into the group’s funds under management. It will come into force in its 2015 half year results, which will be published 29 July. 

The new approach will also allow for further analysis between pension and unit trust/ISA business, St James's Place said. The change comes as part of the company's plan to align its reported figures with its business model, it continued, while matching similar reporting methods of other wealth management companies.