Quilter platform flows hit record £1bn in March Beating heart of businesss
Paul Feeney: I have often described our platform as the beating heart of our business and the opportunity it provides as being transformative for Quilter. It is therefore particularly pleasing to see a meaningful pick-up in the rate of platform sales.
The Quilter Investment Platform achieved record gross flows in March 2021 exceeding monthly sales of £1bn for the first time, according to Q1 results.
Assets under management and administration ( AuMA ) were £119.9bn at the end of March - an increase of 26% from end March 2020 and up 2% from 31 December 2020, the company said in a stock market announcement.
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Financial services giant Quilter has experienced a significantly positive first quarter of 2021 with assets under management and administration (AuMA) soaring by 26% compared to the same period last year.
This also marks a 2% rise to nearly £120bn ($166bn, €138bn) from Q4 2020.
The growth was largely led by its investment platform, after completing its migration in February 2021, which reported a 29% increase in gross sale for the first three months of the year to £2.2bn, compared with £1.7bn in the same period in 2020.
The firm said this led to a 100% increase in net inflows to £1bn, from the £500m last year.