Quilter has reported a gross inflow of £1.4bn to its platform from the adviser channel in the fourth quarter.
This represents a jump of 44% on the £1bn it took in through the same route a year ago. The strong quarter meant annual channel gross and net flows to the platform increased by 15% and 14%, respectively.
Total assets under management and administration rose 5% in the quarter to £106.7bn, reflecting ‘supportive markets into year-end’ as well as positive net flows.
Gross flows to Quilter as a whole in the quarter were £2.98bn, while net flows were £56m, down from £159m in the fourth quarter last year. Inflows increased 16% in the high net worth segment and 12% in the affluent segment.
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Chief executive Steven Levin (pictured) commented: “In what has been a tough year across the industry, we finished 2023 on a positive note with improved fourth quarter performance relative to the third.
“The Quilter channel continues to drive strong net flows in both our affluent and high net worth segments. Our focus on reshaping our advice business is demonstrating clear results, with Quilter channel gross sales per Quilter adviser increasing 21% on the prior year comparative period.
“Across the industry, 2023 saw a lot of focus on strategic positioning of businesses within a Consumer Duty context; we remain confident that our open and unbundled business model leaves us well positioned for the current environment.”
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