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.
Quilter sees ‘meaningful pick up’ in platform sales
By Katey Pigden 21
Paul Feeney
Quilter has reported “significantly improved” net flows, led by its investment platform, which recently welcomed remaining advisers onto the new system after an epic replatforming journey.
In a trading statement this morning for the first quarter of 2021, Quilter revealed its platform delivered a 29% increase in gross sales of £2.2bn for the quarter.
The firm had £119.9bn of assets under management and administration (AUMA) at the end of March, up 26% from last year.
Results also show first quarter gross sales of £3.8bn and net inflows of £1.2bn, which Quilter says is a 240% increase on the first quarter of 2020.
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