Quilter has announced that it reached record core inflows in 2024, totalling £5.2bn.

The wealth management firm said its performance in Q4 was the "strongest of the year", with core net inflows reaching £2bn, representing 7% of opening assets under management and administration (AuMA).

The group AuMA reached £119.4bn at the end of 2024, which was an increase of 3% year-on-year.

Chief executive officer at Quilter, Steven Levin, said: "Our business generated very strong inflows in 2024, as the strategic initiatives we have put in place over the last few years have delivered results. Most importantly, our performance accelerated over the course of the year with each quarter incrementally stronger than the immediate prior quarter.

"Notably, fourth quarter core net inflows of £2bn were higher than the aggregate of the first and second quarters, both of which benefitted from tax year end related activity."

The firm added that in its high net worth segment, new business momentum "remained strong".

It stated that ahead of the Autumn Budget in October, it experienced "some asset repositioning" as clients accelerated asset disposals ahead of changed to capital gains tax.

As a result, Quilter recorded gross inflows of £767m, remaining broadly in line with the recently quarterly run-rate, and despite higher outflows in October ahead of the Budget, net inflows reached £208m in the fourth quarter, representing 3% of opening AuMA.

In conclusion, Levin stated: "Our performance in 2024 demonstrates the strength of our two scale distribution channels. We are the UK's largest discrete adviser platform and, we believe, the fastest growing amongst our larger company platform peers.

"Our scale and distribution reach makes us uniquely positioned both to serve our customers well and to benefit from the secular growth opportunity that the UK wealth market offers."

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