Adjusted profit before tax rose 12% to £112m for Quilter in the first half of the year as assets recovered from the hit taken due to market movements at the start of the year.
Assets under management and administration as at 30 June for the wealth manager were £154.5bn, a 9% rise from the £141.9bn at 31 March.
Assets rose 25% year on year reflecting net inflows of £5.8bn and a recovery in the markets.
The increase in assets was partially driven by inflows to the Quilter platform. Platform assets under administration increased by 13% to £117.9bn since December with net inflows of £5.4bn rising 28% over the same period.
Total assets under management for Quilter’s Wealth Select managed portfolio service reached £29.3bn, an increase of 15% from 31 December 2025.
Core net inflows of £6bn for the wealth manager for the half represented 9% of opening assets (H1 2025: 8%). Gross inflows rose 26% (year-on-year) to £11.9bn for the half.
Quilter Cheviot, which mainly comprises the wealth manager’s discretionary portfolios, delivered net inflows of £522m, a 13% rise year-on-year.
Steven Levin, CEO of Quilter, said Quilter expected its discretionary portfolios to play an important role in growth.
He said:”Over the last few years, we have repositioned our distribution efforts for our platform and solutions business and this is clearly evidenced through the improvement in market share and flows we have delivered over this period. The lessons we have learned from that process are now being applied to our high net worth segment where we also see strong potential for Quilter Cheviot.
“Fundscape expect the discretionary solutions market in the UK will grow from around £760 billion to around a trillion pounds of assets by 2030, an increase of around 30%. We see opportunity to deliver on that growth opportunity by broadening the traditional discretionary fund management proposition and to serve a wider range of clients who are willing to pay a premium price for a more personalised investment management service.”
While adjusted profits rose for Quilter in the first half, IFRS profit after tax fell 2% year-on-year to £45m as strategic investment projects for the wealth manager led to cost growth of 13%, taking its expense base to £267m (H1 2025: £237m).
The fall in IFRS profit after tax also reflects a higher policyholder tax expense due to the change in the policyholder tax rate in March.
Quilter also added a number of Financial Planners during the first half. The number of Quilter Restricted Financial Planners increased by nine to end the half at 1,462.
The wealth manager’s financial results revealed that £64.8m of its planned £100m share buyback had been completed by 31 July.
During the first half Quilter released £5m from the provisions it had made for its customer remediation programme.
Quilter began making payments under its ongoing advice review remediation programme in 2025. The review investigated if the AR Firms in the Quilter Financial Planning network met their ongoing servicing obligations to customers and, if not, will "remediate customers" appropriately.
Mr Levin said: “While the operation remains at the early-growth stage, it provides us with another distribution channel for future generations, and we have been able to test and evolve potential customer propositions in an accelerated manner.”