Quilter reports record core net flows of £6.0 billion (+32%) representing 9% of opening AuMA (annualised) and adjusted pre-tax profit of £112 million (+12%).
Highlights:
- Total Assets under Management and Administration (“AuMA”) increased by 11% to £157.4 billion since 31 December 2025 reflecting reported net inflows of £5.8 billion and positive markets. Core net inflows of £6.0 billion represented 9% annualised (H1 2025: 8%) of opening AuMA.
- Platform Assets under Administration (“AuA”) increased by 13% to £117.9 billion since 31 December 2025. First half net inflows of £5.4 billion (H1 2025: £4.2 billion) increased 28% on the first half of 2025 and represented 10% (annualised) of opening AuA. Total assets under management by WealthSelect, the UK’s largest Managed Portfolio Service (“MPS”) reached £29.3 billion, an increase of 15% from 31 December 2025.
- Our discretionary portfolios in Quilter Cheviot delivered net inflows of £522 million (+13%) representing 3% (annualised) of opening assets (H1 2025: £464 million, 3%).
- Revenues grew by 12% to £379 million (H1 2025: £337 million), reflecting strong growth in management fee revenue partially offset by lower investment revenue generated on shareholder funds. Planned strategic investment led to cost growth of 13%, taking the expense base to £267 million (H1 2025: £237 million), in line with guidance.
- Adjusted profit before tax increased by 12% to £112 million (H1 2025: £100 million) with a stable operating margin of 30% (H1 2025: 30%).
- Adjusted diluted earnings per share of 6.1p increased by 13% (H1 2025: 5.4p), broadly in line with the increase in adjusted profit.
- Quilter Restricted Financial Planners (“RFPs”) increased by nine over the period to 1,462 and Investment Managers increased by seven to 189 since December 2025, with this largely reflecting the GillenMarkets (ILTB Limited) acquisition.
- IFRS profit after tax of £45 million (H1 2025: £46 million).
- Interim Dividend of 2.1 pence per share representing one third of the previous year’s total dividend, in line with our revised distribution policy (H1 2025: 2.0 pence per share), representing an increase of 5%. £68.4 million of planned £100 million share buyback completed by 31 July 2026.
- Solvency II ratio (pro forma) of 202% after payment of the Interim Dividend (31 December 2025: 200%).
Steven Levin, Chief Executive Officer, said:
Our strong momentum has continued in H1 2026 as we delivered good profit growth and sustained excellent flows. Our business continues to outperform our market peers, with greater absolute inflows and higher growth as a percentage of opening assets. This clearly demonstrates the strength of our dual-distribution model and the progress we have made against our strategic priorities. Our business continued to build on the momentum of the last two years, is in great shape, and is well positioned to deliver on the significant long-term growth opportunity in the UK wealth market.
