UK wealth management company Quilter shares surged on the JSE Wednesday after it reported record net inflows of £9.1 billion for 2025 due to elevated client activity following speculation in markets about the UK Budget in November 2023.
Directors of the JSE and London listed company said in a trading statement that quarterly inflows consistently above £2bn through the year also reflected the strength of their platform. The share price increased 4.07% to R42.74 in the afternoon – the price has increased by more than 11% over 12 months.
“We finished the year with strong momentum. The fourth quarter was our strongest quarter of the year, despite market uncertainty caused by speculation on potential tax changes ahead of the UK Budget at the end of November,” said CEO Steven Levin.
Group assets under management and administration (AuMA) of £141.2bn at December 31, 2025, increased by 5% from the end of the third quarter to September 30, 2025, reflecting net inflows of £2.3bn and market movements of £4.1bn.
AuMA increased by 18% over a year. Across the financial service sector, speculation on the UK Budget in November 2025 had contributed to elevated client activity, which impacted both gross inflows and outflows, the directors said.
In the Affluent market segment, the strength of the Quilter Platform proposition saw strong business volumes, Levin said. Quarterly net inflows of £2.4bn represented 10% (annualised) of opening AuMA, versus £1.92bn in the comparable period (9% annualised) of opening AuMA.
Quilter channel gross and net inflows onto the platform increased 22% and 18% respectively year-on-year. Quilter channel net inflows for the 2025 financial year increased 12% year-on-year.
IFA (independent financial adviser) channel gross inflows onto the Platform increased 31% year-on-year. IFA channel net inflows of £1.623m were 29% higher than the comparable period. IFA channel net inflows for 2023 increased 92% year-on-year.
In the High Net Worth segment, quarterly gross inflows of £678m were broadly consistent with prior quarters through the year, with total gross inflows of £2.97bn for the full 2025 year.
“Our High Net Worth segment continued to deliver solid levels of new business in the fourth quarter. Client portfolio repositioning ahead of the November UK Budget led to temporary higher outflows in October and November. Following the UK Budget, outflows returned to lower levels and the business achieved positive net inflows in December,” said Levin.
The fourth quarter net outflow of £17m largely reflected client activity ahead of the UK Budget at the end of November. Outflows returned to lower levels in December with the segment delivering positive net inflows in that month. Net inflows of £686m for the 2025 financial year represented 2% of opening AuMA and increased 15% year-on-year.
Quilter channel annualised gross sales per Quilter adviser were £3.7m in the fourth quarter, around 12% higher year-on-year. The full financial results for the year are expected to be released on March 4, 2026.
“Our performance in 2025 demonstrates the strength of our two distribution channels. Our scale, distribution reach and compelling propositions make us uniquely positioned to meet our customers’ needs and to benefit from the growth opportunity that the UK Wealth market offers,” said Levin.
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