Key facts
- Quilter reported record net inflows for the first half of the year.
- Assets under administration and management (AUMA) grew 25% to £157.4bn.
- Net inflows increased by 32% to £6bn.
- Revenue inched up 5% to £379m, with profit before tax at £112m.
- The company increased its interim dividend and continued its share buyback program.
Quilter has announced record net inflows for the first half of the year, attributing the success to its focus on financial advice and increased customer activity. The wealth management firm's total assets under administration and management (AUMA) surged 25% to £157.4bn. Core net inflows saw a significant 32% increase, reaching £6bn compared to £4.5bn in the previous year. Revenue climbed 5% to £379m, while profit before tax stood at £112m. The company also raised its interim dividend to 2.1p per share and continued its share buyback program, having completed £68.4m of a £100m allocation. The affluent segment was a strong contributor, with net inflows of £1.7bn and a 13% increase in AUMA to £121.2bn. Quilter's independent adviser channel reported a 27% rise in net inflows to £3.7bn, indicating market share growth. The firm's strategy, as described by CEO Steven Levin, focuses on delivering wealth solutions through strong adviser-client relationships, with plans to broaden offerings and leverage technology and AI to reduce client costs. Quilter is also anticipating the Autumn Budget, emphasizing the need for a stable policy environment to encourage long-term household saving and investment.