Advisers positioned £1.4bn of latest enterprise onto the Quilter platform within the fourth quarter of 2023, in keeping with a buying and selling replace from the wealth supervisor.
Gross inflows from advisers onto the platform elevated 44% year-on-year (This fall 2022: £1bn) and by 7% on a full-year foundation.
Full yr gross and web flows from Quilter advisers elevated by 15% and 14% respectively.
Steven Levin, CEO of Quilter, mentioned: “Our deal with reshaping our recommendation enterprise is demonstrating clear outcomes, with Quilter channel product sales per Quilter adviser growing 21% on the prior yr comparative interval.
“Our actions to boost the proposition of our platform proceed to bear fruit. We noticed 44% year-on-year progress in fourth quarter gross new enterprise from IFAs onto our platform in our prosperous section, leading to us transferring again right into a place of web inflows on this channel throughout the remaining quarter.”
Nevertheless, excessive web price shoppers continued portfolio repositioning led to an outflow within the IFA channel, partly offset by web inflows within the Quilter in-house channel.
Property beneath administration and administration for the group elevated 5% over the quarter to £106.7bn at 31 December.
Core enterprise web inflows of £175m dropped 28% to £175m within the fourth quarter (This fall 2022: £242m), however have been a substantial enchancment from the £1m reported for the third quarter.
Full yr 2023 web inflows as a proportion of belongings have been 15% for the excessive web price section and 10% for the prosperous section.
Earlier this month Quilter appointed Craig Ross as head of adviser propositions.
Mr Ross is one in every of a collection of current senior appointments by the wealth supervisor.
The agency has additionally appointed former Hargreaves Lansdown CEO Chris Hill as an unbiased non-executive director. He was CEO at Hargreaves Lansdown from 2016 till he stepped down in August.
