Quilter reports record flows, adjusted profit of £207 million (+6%), an improvement in operating margin to 30%, a Share Buyback of £100 million and a new Distribution Policy.
Steven Levin, Chief Executive Officer, said:
I’m very pleased with our performance in 2025. We delivered record flows, with our Affluent and High Net Worth segments both outperforming their market peers for level of inflows and growth as a percentage of opening assets. This clearly demonstrates the powerful nature of our dual-distribution model. Our business has strong momentum and is in great shape, with excellent growth opportunities ahead.
Highlights:
- Total Assets under Management and Administration (“AuMA”) increased by 18% over the year to £141.2 billion reflecting net inflows of £8.7 billion coupled with a positive contribution from markets. Core net inflows of £9.1 billion represented 8% (2024: 5%) of opening AuMA (7% reported after non-core net outflows).
- Platform Assets under Administration (“AuA”) increased by 22% to £104.6 billion over the year. Platform net inflows of £8.7 billion (2024: £5.6 billion) were up 56% on 2024 and represented 10% of opening AuA. Total assets under management by WealthSelect, the UK’s largest Managed Portfolio Service (“MPS”), reached £25.4 billion, an increase of 38% from December 2024.
- Revenues grew by 5% to £701 million (2024: £670 million) reflecting higher management fee revenue partially offset by lower investment revenue generated on shareholder funds. Cost control limited cost growth to 4%, taking the expense base to £494 million (2024: £474 million).
- Adjusted profit before tax increased by 6% to £207 million (2024: £196 million) with an improvement in the operating margin to 30% (2024: 29%).
- Our Simplification programme has now achieved its target of £50 million of savings on a run-rate basis.
- Adjusted diluted earnings per share of 11.0p increased by 4% (2024: 10.6p), a slightly lower rate than the increase in adjusted profit due to a marginally higher tax rate.
- Net increase of 13 Quilter Restricted Financial Planners (“RFPs”) to 1,453 and six Investment Managers to 182 since December 2024.
- Ongoing Advice Review: now focused on remediation programme implementation. This work has led to a release of £20 million in the previously recognised provision, with the year-end provision reducing to £42 million after utilisation during the year.
- IFRS profit after tax of £120 million (2024: loss of £34 million).
- Proposed Final Dividend of 4.3 pence per share taking the total dividend for the year to 6.3 pence per share (2024: 5.9 pence per share), representing an increase of 7% and a payout ratio of 60%.
- Following a capital review, the Company announces a Share Buyback Programme of up to £100 million with this to be completed over the remainder of 2026. From the 2026 financial year, Quilter will move to a shareholder distribution policy of 70% of post-tax, post-interest earnings through a combination of ordinary dividends and regular ongoing share buybacks.
- Solvency II ratio of 200% (pro forma) post Final Dividend and deduction for the Share Buyback Programme (31 December 2024: 219%).
