View more on these topics

Quilter advisers boost flows but DB transfers half

Quilter plc, the new name for Old Mutual Wealth, has reported £900m of “integrated flows” for the third quarter, £800m of which was driven by advisers at the former Intrinsic and Old Mutual Wealth Private Client Advisers brands.

The businesses, now named Quilter Financial Planning and Private Client Advisers, have now accounted for £3bn of the £3.7bn in total net flows to the group since the start of the the year.

Quilter Investors has seen £2.3bn in net inflows for the year until 30 September.

Its UK platform, Quilter Wealth Solutions, meanwhile saw £6.1bn inflows but due to outflows of £3.4bn resulted in net flows of £2.7bn.

The overall group saw steady growth in assets under management and administration to £118bn, it says, “despite mixed global market performance”.

AUA as at 31 December last year stood at £114bn

Quilter chief executive Paul Feeney says the flows into the business demonstrates the “benefit of having both a substantial adviser workforce and an open channel” supporting its 4,000 advisers.

He says: “We remain confident in the long term prospects for our business model.

“Over the last quarter more volatile investment markets and geopolitical uncertainty have contributed to weaker investor sentiment resulting in a market-wide reduction in net retail flows. Year-to-date flows across the market are down 55 per cent on the comparable period according to the Investment Association.

“Against this backdrop, I am pleased to report continued solid performance…in the third quarter, marginally ahead of the second quarter.”

He adds that the firm is seeing a more cautious approach to defined benefit pension transfers from advisers using the platform, down from £600m in the third quarter of 2017 to £300m for the same period in 2018.

Recommended

tracker funds

SJP passes £100bn funds under management

St James’s Place has passed the £100bn funds under management mark after reporting another quarter of positive flows. Net inflows for the nine months ended 30 September were £7.7bn, up 15 per cent, with overall funds under management up 11 per cent since the beginning of the year to reach £100.6bn. SJP says it continues […]

SJP plans 10-day blackout for replatforming

Advice giant St James’s Place will block access to its investment platform for 10 days while it migrates services to a new provider. SJP tells Money Marketing that the work will affect online service ability for clients between 19 October and 29 October. A spokesman says: “SJP will carry out essential maintenance to our systems as part […]

2

Standard Life Aberdeen begins share buyback after Phoenix deal

Standard Life Aberdeen has begun buying back shares from investors after selling its life arm to Phoenix. According to a stock exchange announcement this morning, SLA has purchased nearly 770,000 ordinary shares from Merrill Lynch International at an average price of 318p a share, costing SLA around £245m. The announcement adds that SLA intends to […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com