Financial Planner and wealth manager Quilter is to launch a franchise-style model for financial advisers.

Quilter Partners will see advisers operate under a co-branded arrangement.

It will use Quilter’s investment and platform propositions, whilst maintaining an owner-operated business model.

Quilter will support owner-operated businesses operating within their own brand, whilst also ensuring continuity of advice for clients when the adviser decides to exit under a succession proposition.

The proposition will be offered to select adviser firms, and will be refined as the initiative progresses.

Quilter will also continue to operate its existing national business and existing advice network.

Steve Gazard, chief distribution officer at Quilter, said: “The pilot of Quilter Partners shows our commitment to offering the widest range of advice models across the market. It joins our existing Practice Buy Out and Management Buy Out options for firms and means advisers can work with us in whatever form best suits them.

“With Quilter Partners, we want to create an option that is fully aligned with our propositions while retaining the entrepreneurial drive that makes owner-owned advice businesses so successful.

“We have already signed up a number of founder firms to work with us on developing this proposition and we expect to add more later this year as we develop this initiative into a full commercial proposition.”

The launch of Quilter Partners came as the Financial Planner and wealth manager released its results for the half ending 30 June.

Assets under management and administration increased 2% over the half to £01.7bn, with strong inflows from the high net worth and affluent national businesses and a more muted performance from its network.

The firm saw nine Financial Planners join its restricted national model since December.

Flows for the second quarter rose 5% year-on-year with core business growth inflows of £5.5bn evenly spread between the two quarters.

Adjusted profit before tax rose 25% to £76m (H1 2022: £61m) as the firm’s simplification programme continued to deliver cost savings. Quilter expects to deliver its target £45m cost savings by the end of this year, a year earlier than was planned.