Quilter sees record inflows boost thanks to high net worth boost
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Quilter achieved record net inflows in its core segment last year, with the wealth manager seeing particularly strong demand among high net worth clients. The group said core net inflows totalled £5.2billion in 2024, more than six times the £832million of the prior year.
Soaring inflows in the company's third-party financial advice channel and lower net outflows in its financial planning businesses arm, Affluent, led to a particularly strong fourth quarter for the firm. Quilter's high net worth division also shrugged off elevated outflows ahead of the late October Budget to more than double net inflows year-on-year to £208million in the final three months of 2024.
The group noted some 'asset repositioning' as clients sped up some asset sales in expectation of changes to capital gains tax rates and made larger generational wealth transfers as part of inheritance tax planning. Strong result: Wealth manager Quilter reported core net inflows totalled £5.2billion in 2024.
'Our business generated very strong inflows in 2024, as the strategic initiatives we have put in place over the last few years have delivered results,' said Steven Levin, chief executive of Quilter. He added: 'Our scale and distribution reach makes us uniquely positioned both to serve our customers well and to benefit from the secular growth opportunity that the UK Wealth market offers.'.
