Quilter has reported its assets under management and administration (AuMA) at the end of the first quarter of 2022 was £107.2bn ($139.6bn, €128.9bn)
This is a 6% rise from the same period last year, which was £101bn. But it is a decline of 4% from 31 December 2021, where AuMA was £111bn.
The affluent segment administered £70.7bn of assets, while it also managed £24.5bn, as at 31 March 2022. The high net worth (HNW) operation had £27.5bn of assets at the end of Q1 2022.
The assets do not add up to £107.2bn because the three areas overlap, the company confirmed to International Adviser. The administration of affluent segment assets is the platform – of which HNW assets and managed affluent assets can be placed on the platform.
The firm’s net inflows were slightly up in Q1 2022 at £1.049bn from £1.041bn a year earlier. It also said that annualised gross flows per adviser increased 14% to £2.5m, from £2.2m in 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, which came in at £523m and £515m, respectively. The HNW operation saw flows of £99m into the Quilter channel and £165m into the IFA channel.
Quilter said: “Strong early net flow momentum in the quarter was impacted by market uncertainty following the outbreak of conflict in Ukraine in late February.”
Ukraine impact
Paul Feeney, chief executive of Quilter, added: “Net inflows in the first two months of the year were comfortably ahead of the comparable period in 2021 but the invasion of Ukraine in late February dampened investor sentiment for most of March.
“Our resilient overall performance throughout this period has underlined both the strength of our advice-based model and demonstrated the potential of our transformed business.
“We have built a business for the long-term and remain confident in our potential and ability to drive growth and deliver efficiency.
“Markets may remain challenging, but we are focussed on execution and are well positioned to take advantage of the opportunities ahead.”
