Quilter's inflows boosted by adviser productivity

Quilter's inflows boosted by adviser productivity

Quilter saw net inflows of £1bn in the three months to March 31, as the group reported a rise in adviser productivity.

In the group’s quarterly results, released today (April 20), it said annualised gross flows per adviser had risen 14 per cent to £2.5mn, compared with £2.2mn during the same period in 2021.

Within the group’s affluent segment, flows into Quilter’s platform were spread across the Quilter channel and IFA channel, with inflows of £523mn and £515mn respectively.

However, flows through other platforms resulted in net redemptions of £252mn.

Among high net worth clients, flows through Quilter’s channel were £99mn, with flows through the IFA channel at £165mn.

Despite this, assets under management declined by 4 per cent in the quarter, to £107bn.

Paul Feeney, chief executive of Quilter, said net inflows in the first two months of the year were “comfortably ahead” of the comparable period in 2021 but the invasion of Ukraine dampened investor sentiment for most of March. 

“We have built a business for the long-term and remain confident in our potential and ability to drive growth and deliver efficiency," he said.

“Markets may remain challenging, but we are focussed on execution and are well positioned to take advantage of the opportunities ahead.”

The flows into the Quilter Investment Platform come after it enjoyed £3.5bn in net inflows during 2021, after migrating the last customers to the new platform in February that year.

Quilter has 1,623 in-house wealth planners, and works with around 6,000 third party advisers.

Last month, the group added 40 new portfolios to its model portfolio services in response to adviser and client demand.

The additions take the group’s ‘WealthSelect’ offering to 56 portfolios, including a wider range of third-party funds and managers.

The new portfolios are available on the Quilter platform in active, blended or passive management styles.