Quilter Plc · LSE:QLT
Quilter — Investor Presentation (2025)
40 slides from Quilter's investor presentation, 2025
Slide 1: Investor introduction Autumn 2025
Investor introduction Autumn 2025 2025
Slide 2: Business overview
Business overview Quilter
Slide 3: Quilter: a c.£2.3bn market capitalisation UK Wealth manager
Quilter: a c.£2.3bn market capitalisation UK Wealth manager High Net Worth Affluent What differentiates Quilter? Key competitors • Brooks Macdonald Balanced business mix covering the entire UK wealth spectrum • Rathbones High Net Worth Integrated Advice Key competitors Discretionary investment Advic
Slide 4: Quilter: outperforming High Net Worth and Platform peers for H1 flows
Quilter: outperforming High Net Worth and Platform peers for H1 flows H1 2025 Quilter core net flows vs peers by channel Annualised net High Net Worth (£m)1 Platform (£m)2 inflows/ +10% opening Assets 5,000 +4% +4% +9% 4,000 3,000 +7% Annualised net inflows/ +3% opening AuMA 2,000 500 1,000 0 0 -1,0
Slide 5: Quilter: The UK's largest adviser Platform
Quilter: The UK’s largest adviser Platform H1 2025: Gross inflows (£bn) 9 8 Quilter 7 6 Transact 5 Aviva 4 Nucleus AJ Bell Fidelity 3 Aberdeen 7IM Aegon 2 Morningstar Wealth Platform Advance True Potential Hubwise 1 Parmenion H1 2025: AuMA M&G Wealth Platform (£bn) 0 0 10 20 30 40 50 60 70 80 90 100
Slide 6: Strong growth opportunities across UK Wealth
Strong growth opportunities across UK Wealth Industry growth trend Quilter positioning H1 2025 Current market Future market £1.7tn £2.7tn Affluent1 Affluent Net inflows £4.1bn3 +132% £1.2tn A market leading highly £0.7tn scalable advice led Revenue £218m +6% Platform wealth manager Platform Adjusted
Slide 7: Flow trends
Flow trends Quilter
Slide 8: Flows: maintaining strong momentum
Flows: maintaining strong momentum Core gross inflows1 Core gross outflows1 Core net inflows1 £bn £bn £bn 10 9.4 10 10 9 8.6 9 9 Annualised net 7.4 2.5 3% 6% 8% inflows/ 8 8 8 opening AuMA2 2.4 7 7 7 2.4 5.7 160% 6 6 6 5.1 4.9 5 5 1.1 5 4.5 0.9 0.8 4 4 4 3.5 7.1 1.6 3 6.4 3 3 5.2 1.5 4.7 4.3 1.7 2 2
Slide 9: Flows: maintaining strong momentum
Flows: maintaining strong momentum Core gross inflows1 Core gross outflows1 Core net inflows1 £bn £bn £bn Annualised net 5.0 4.9 5.0 5.0 8% 8% inflows/ 4.5 opening AuMA2 4.5 4.5 4.5 4.0 3.8 4.0 4.0 3.6 3.5 3.5 3.5 3.0 3.0 2.8 2.9 3.0 2.6 2.5 2.5 2.3 2.5 2.3 2.2 2.0 2.0 2.0 1.5 1.5 1.5 1.0 1.0 1.0 0.
Slide 10: Continued improvement in Platform market share
Continued improvement in Platform market share Platform net flow transfers between Quilter and peers Quilter Platform market share1: gross inflows and assets % (each bar represents a different platform competitor) 20 18 16 14 12 10 8 Consolidators 6 Total share of Gross flows Total share of stock 4
Slide 11: Material increase in IFA Platform net inflows in 2025
Material increase in IFA Platform net inflows in 2025 Initiatives driving year-on-year improvement: • Adding new IFA firms to the Platform. • Deepening relationships with existing advisers on Platform. • Taking increased IFA new business market share in a larger market. • Reduced outflow pressure fr
Slide 12: Material increase in Platform net inflows over the last 18 months
Material increase in Platform net inflows over the last 18 months Initiatives driving year-on-year improvement: • Adding new IFA firms to the Platform. • Deepening relationships with existing advisers on Platform. • Taking increased IFA new business market share in a larger market. • Reduced outflow
Slide 13: Platform external perspectives
Platform external perspectives Why the Quilter Platform Quilter demonstrates highest market With a sharply improving trend among Adviser satisfaction measured by NPS from wins market share: penetration by number of adviser relationships financial advisers over the last two years1,2 1 primary users h
Slide 14: MPS on Platform: Quilter an industry leader
MPS on Platform: Quilter an industry leader MPS AuMA1 Quilter WealthSelect was the fastest growing DFM by net £bn assets [in the year to September 2024]. 22 +28% Q1 2024 Q1 2025 The firm has benefited from strong performance, a continued shift to outsourcing as a result of Consumer Duty 20 19.4 19.5
Slide 15: Platform drives flows into Quilter solutions
Platform drives flows into Quilter solutions Platform new business flows drive Quilter Investor flows £bn New business flows here… Around a third of Platform Gross inflows into Quilter Solutions 92.0 (1.0) (2.4) 2.4 85.4 1.9 5.7 …drive new business flows here £7.6bn +36% YoY 25.2 27.8 1.6 0.9 (0.8)
Slide 16: Principal Platform solutions: now rebased towards MPS and Blend/Passive
Principal Platform solutions: now rebased towards MPS and Blend/Passive Fund of funds solutions Managed portfolio solutions AuMA £m AuMA £m 20,000 25,000 20,000 CAGR 15,000 -4% CAGR +25% CAGR +44% CAGR 15,000 10,000 -20% 10,000 5,000 5,000 +10% +16% 0 0 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 H1 202
Slide 17: Strategic priorities
Strategic priorities Quilter
Slide 18: Strategic priorities
Strategic priorities Flows Efficiency Grow distribution Enhancing propositions Be future fit Gaining market share. WealthSelect on third party platforms. Simplification and Transformation programmes on track. Outperforming 4-5% net inflow target. Quilter portfolio funds and advice referral
Slide 19: Next steps
Next steps What has been achieved Future priorities: Building the advice business of tomorrow: Advice Transformation Programme, Quilter Partners, Quilter Academy Optimisation: £50m savings. Sustainable Broadening distribution: growth. Simplification 1: Targeted Support and guidance to support clie
Slide 20: External recognition
External recognition Multiple awards for best Platform Strong Trustpilot rating x Awards in other propositions High Net Worth awards 20
Slide 21: How we make money
How we make money Quilter
Slide 22: How we make money: across the UK Wealth value chain
How we make money: across the UK Wealth value chain Advice/Distribution Platform/Administration Investment Solutions Quilter solutions: £108m Quilter Restricted Quilter retains c.25 bps margin retain by Quilter Fund of Fund (Cirilium) and MPS (Wealth Select): Financial Planner 15-20% revenue (Low si
Slide 23: How we make money: segments
How we make money: segments High Net Worth Affluent H1 2025 H1 2025 revenues revenues1 £113m +1% £218m +6% Y-o-Y Y-o-Y 67bps IM fee 23bps Platform fee £102m £99m £30bn £88bn 35bps management fee £56m Share of fees2,3 £32bn £30bn £38m c.65bps advice fee £10m Investment £3bn Investment revenue revenue
Slide 24: Segment H1 2025 financials: year-on-year growth driven by Affluent segment
Segment H1 2025 financials: year-on-year growth driven by Affluent segment High Net Worth Affluent Group Adjusted profit Total net revenues before tax Total net revenues £113m £218m (4)% £24m Y-o-Y Operating expenses Operating expenses £100m1 £89m £139m +10% Y-o-Y £79m Adjusted profit before tax Adj
Slide 25: Consistent improvement and delivery
Consistent improvement and delivery Average AuMA Adjusted profit before tax Operating expenses £bn £m £m (1)% CAGR +5% CAGR +16% CAGR 122.1 97 100 248 242 237 236 232 105.3 110.0 101.7 101.8 76 61 56 H1 21 H1 22 H1 23 H1 24 H1 25 H1 21 H1 22 H1 23 H1 24 H1 25 H1 21 H1 22 H1 23 H1 24 H1 25 Operating
Slide 26: Quilter guidance
Quilter guidance The Quilter financial medium-term model in ‘normal’ markets Net flows/opening AuMA c.+5% Market movements c.+5% Average AuMA c.+10% ‘Expected’ margin attrition Revenues Mid to high single digit % Costs Positive jaws Steady compounding of earnings at a high single digit to mid-teens
Slide 27: Capital priorities
Capital priorities Quilter
Slide 28: Efficient capital and balance sheet management
Efficient capital and balance sheet management 1 Group capital requirements (regulatory capital and stress buffers). On-going Current year dividend. cash needs Working capital and interest. Solvency II Ratio 2 214% Investing Growth investment. organically Simplification programme. Capital
Slide 29: Investment conclusion
Investment conclusion Quilter
Slide 30: Regulatory changes support structural industry growth
Regulatory changes support structural industry growth Quilter well positioned for the evolving regulatory landscape: Quilter impact: Supporting individuals’ taking responsibility for funding their retirement Underpins structural market Intergenerational wealth transfer supports demand for person
Slide 31: Quilter: delivering today and tomorrow
Quilter: delivering today and tomorrow Large fragmented market with structural growth Quilter generates growth through: Powerful distribution Powerful propositions, scalable businesses Quilter Channel Largest and fastest growing scaled UK platform IFA Channel UK’s leading MPS provider New distributi
Slide 32: Appendix
Appendix Quilter
Slide 33: A transformed investment case: Quilter now vs at Listing
A transformed investment case: Quilter now vs at Listing June 2018 Autumn 2025 Sold in Quilter International 2021 for c.£1.3bn¹ returned to shareholders £481m Sold in Quilter Life Assurance Market cap £2.7bn 2020 for £425m Sold in Single Strategy business 2018 for £583m Core business Core business M
Slide 34: Where do flows come from?
Where do flows come from? Two strong distribution channels: IFAs and Quilter RFPs – delivering a strong flow funnel Independent Financial Advisers (IFAs) Quilter Restricted Financial Planners (RFPs) Strategy: Grow, broaden, deepen Strategy: Grow number & improve productivity 2,000 important relation
Slide 35: Grow distribution: Quilter channel
Grow distribution: Quilter channel RFP numbers1 £3.2m £3.3m Adviser productivity2 1,454 1,440 14 Building a next generation advice business 1 Building the network of tomorrow Advice Transformation Programme on track. Adviser productivity improved by 3% to £3.3m (H1 2024: £3.2m). 2 Recruiting the
Slide 36: Client pricing: open, unbundled, with choice at the heart
Client pricing: open, unbundled, with choice at the heart Average fees example, reflecting current predominant choice by clients & their advisers % of investment Total Upfront Ongoing p.a. Equivalent p.a. Total Financial p.a/ Wrapper / Investment Total Advice Total Advice A+B Advice 10 Years Admin M
Slide 37: H1 2025 flows: High Net Worth – consistent strong new business momentum
H1 2025 flows: High Net Worth – consistent strong new business momentum High Net Worth High Net Worth flows by channel £bn £bn Gross flows Net flows 2.0 YoY growth: – +334% 1.5 Net/opening¹: 1.0 3% 0.5 0.8 0.8 0.8 0.8 0.8 0.8 0.0 -0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.4 0.3 -1.0 0.2 0.2 0.0 0.1 0.1 0.1 0.1
Slide 38: H1 2025 flows: Affluent – strong momentum
H1 2025 flows: Affluent – strong momentum Affluent: Quilter Platform Affluent: including funds on third-party platforms £bn £bn Gross flows Net flows Gross flows Net flows YoY Growth: +36% +92% +32% +132% Net/opening¹: Net/opening¹: 10% 9% 4.0 3.7 3.7 3.1 2.9 2.3 2.7 1.9 1.9 3.0 2.7 2.7 4.2 1.5 3.9
Slide 39: Industry insight: advised Platform sales trends
Industry insight: advised Platform sales trends Source: The Lang Cat 39
Slide 40: Disclaimer
Disclaimer This presentation may contain forward-looking statements with respect to certain Quilter plc’s plans and its current goals and expectations relating to its future financial condition, performance and results. By their nature, all forward-looking statements involve risk and uncertainty bec