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January 30, 2020

Quilter AuMA jumps 13% to £110.4bn

UK-based wealth manager Quilter has reported that its assets under management and administration (AuMA) touched £110.4bn as of 31 December 2019, up 13% from a year ago.

Gross sales in 2019 Q4 was £3.5bn, jumping 17% from £3bn registered in the corresponding period in 2018.

Net Client Cash Flow inflow (NCCF) was £500m in the same period.

The wealth manager also witnessed a turnaround in annual NCCF registering an inflow of £300m this year, excluding Heritage Life Assurance. At the end of third quarter, Quilter reported a net outflow of £200m.

Quilter CEO Paul Feeney said: “2019 was a good year for market performance but a challenging year for net client flows. We were pleased to finish the year in a positive position.

“Net inflows of £0.3 billion for the year represented a sharp turnaround from the net outflow of £0.2 billion for the nine months to end-September.

“Looking across our businesses, the integration of our advice acquisitions is progressing well and both Lighthouse and Charles Derby, which this week rebranded to Quilter Financial Advisers, are well positioned to contribute to net flows in 2020.”

The company has also planned to move its assets onto the new UK platform over the weekend of 22 and 23 February 2020.

It has already alerted the advisers and customers about the transition.

Feeney added: “Our new UK platform will be transformational for Quilter – it has taken time to get to this point and we are excited about the ability to drive further business growth once we have fully migrated onto the new platform by the end of this summer.”

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