Quilter plans to reduce the total number of advisers within the Quilter Cheviot business in the short term, as it repositions to target high-net-worth clients.
The firm said this will allow it to create a clearer distinction between clients who benefit from ongoing, proactive financial planning and those whose needs are better served through a ‘flexible, event driven advice model’.
The other side of this is a desire to actively recruit people experienced in working with high-net-worth clients.
Quilter also revealed more details on its plans regarding targeted support. It said it expects up to 12 million additional people to potentially have access to financial guidance as a result of the measures. It added Quilter Invest will be its branded vehicle for this segment of the market.
Clients with the most complex needs will continue to require ‘holistic personalised advice’ delivered via Quilter or Quilter Cheviot, the firm said.
The strategy update was issued alongside its annual results to 31 December. In the statement, Quilter said total assets under management and administration increased by 18% over the year to £141.2bn.
Of this, net inflows accounted for £8.7bn with upward movement in the markets contributing the rest.
Platform assets increased by 22% to £104.6bn over the year, with net flows up 56% on 2024.
The WealthSelect MPS saw a 38% rise in assets to £25.4bn, keeping it the largest such product in the UK market.
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Revenue grew by 5% to £701m while adjusted profit before tax increased by 6% to £207m.
Across the year there was a net increase of 13 restricted financial planners (RFPs) to 1,453, and six investment managers to 182.
Quilter also confirmed a £100m share buyback, to be completed over the rest of 2026. From the 2026 financial year onwards, the firm 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, it said.
Chief executive Steven Levin (pictured), 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.”
