Quilter reports record core net flows of £6.0 billion (+32%) representing 9% of opening AuMA (annualised) and adjusted pre-tax profit of £112 million (+12%)

6 August 2026

Steven Levin, Chief Executive Officer, said:

“Our strong momentum has continued in H1 2026 as we delivered good profit growth and sustained excellent flows. Our business continues to outperform our market peers, with greater absolute inflows and higher growth as a percentage of opening assets. This clearly demonstrates the strength of our dual-distribution model and the progress we have made against our strategic priorities. Our business continued to build on the momentum of the last two years, is in great shape, and is well positioned to deliver on the significant long-term growth opportunity in the UK wealth market.”

Highlights:

·       Total Assets under Management and Administration (“AuMA”) increased by 11% to £157.4 billion since 31 December 2025 reflecting reported net inflows of £5.8 billion and positive markets. Core net inflows of £6.0 billion represented 9% annualised (H1 2025: 8%) of opening AuMA.

·       Platform Assets under Administration (“AuA”) increased by 13% to £117.9 billion since 31 December 2025. First half net inflows of £5.4 billion (H1 2025: £4.2 billion) increased 28% on the first half of 2025 and represented 10% (annualised) of opening AuA. Total assets under management by WealthSelect, the UK’s largest Managed Portfolio Service (“MPS”) reached £29.3 billion, an increase of 15% from 31 December 2025.

·       Our discretionary portfolios in Quilter Cheviot delivered net inflows of £522 million (+13%) representing 3% (annualised) of opening assets (H1 2025: £464 million, 3%).

·       Revenues grew by 12% to £379 million (H1 2025: £337 million), reflecting strong growth in management fee revenue partially offset by lower investment revenue generated on shareholder funds. Planned strategic investment led to cost growth of 13%, taking the expense base to £267 million (H1 2025: £237 million), in line with guidance.

·       Adjusted profit before tax increased by 12% to £112 million (H1 2025: £100 million) with a stable operating margin of 30% (H1 2025: 30%).

·       Adjusted diluted earnings per share of 6.1p increased by 13% (H1 2025: 5.4p), broadly in line with the increase in adjusted profit.

·       Quilter Restricted Financial Planners (“RFPs”) increased by nine over the period to 1,462 and Investment Managers increased by seven to 189 since December 2025, with this largely reflecting the GillenMarkets (ILTB Limited) acquisition.

·       IFRS profit after tax of £45 million (H1 2025: £46 million).

·       Interim Dividend of 2.1 pence per share representing one third of the previous year’s total dividend, in line with our revised distribution policy (H1 2025: 2.0 pence per share), representing an increase of 5%. £68.4 million of planned £100 million share buyback completed by 31 July 2026.

·       Solvency II ratio (pro forma) of 202% after payment of the Interim Dividend (31 December 2025: 200%).

Key financial highlights

We assess our financial performance using a variety of measures including alternative performance measures (“APMs”), as explained further on pages 15 to 17. In the headings and tables presented, these measures are indicated with an asterisk:*.

Chief Executive Officer’s statement

Business performance

Notwithstanding geopolitical uncertainty, in the first half of 2026 we delivered another strong performance encompassing:

• Continued flow momentum: core net inflows up 32% to £6.0 billion (H1 2025: £4.5 billion). This represented 9% (annualised) of opening assets (H1 2025: 8%).
• Good profit growth: adjusted profit before tax of £112 million (H1 2025: £100 million), an increase of 12% on the prior period.
• Stable operating margin: we achieved a 30% (H1 2025: 30%) operating margin, despite higher levels of business investment and lower interest rates reducing investment income on shareholders’ funds.

At Quilter, advice is at the heart of all that we do. We cover the UK wealth spectrum, with customer choice facilitating two propositions:

• our scaled Platform and market leading MPS, together with our Fund of Fund solutions; and
• a discretionary investment service, built around the high-touch relationship model from Investment Managers in Quilter Cheviot.

Across our scaled propositions, we generated:

• excellent Platform net inflows of £5.4 billion, up 28% on the first half of 2025 (£4.2 billion) with this representing 10% (H1 2025: 10%) of opening assets (annualised); and
• net inflows into our Managed Solutions of £1.9 billion up 93% on the first half of 2025 (£1.0 billion), with this representing 10% (H1 2025: 6%) of opening assets (annualised).

Our discretionary propositions in Quilter Cheviot delivered net inflows of £522 million, up 13% on first half 2025 (£464 million) representing 3% (annualised) of opening assets (H1 2025: 3%). New gross flows improved to £1.8 billion (H1 2025: £1.5 billion) leading to a stronger performance of net inflows.

Adjusted profit before tax of £112 million (H1 2025: £100 million) represents the Group’s IFRS profit, adjusted for items that management consider to be outside of normal operations or one-off in nature. Principal differences between adjusted profit and IFRS profit in the current period are due to non-cash amortisation of intangible assets, interest expense, policyholder tax adjustments and business transformation expenses.

The Group’s IFRS profit after tax was £45 million compared to £46 million in H1 2025 and reflects a higher policyholder tax expense due to the change in the policyholder tax rate in March 2026 and an increase in markets during the first half of 2026, partially offset by higher adjusted profit, lower Business Transformation costs, and a £5 million release from the customer remediation exercise provision.

Group adjusted diluted earnings per share was 6.1 pence, an increase of 13% (H1 2025: 5.4 pence). On an IFRS basis, we delivered basic earnings per share of 3.3 pence per share versus 3.4 pence per share for H1 2025.

The Board declared an Interim Dividend of 2.1 pence per share, representing one third of the total 2025 dividend, in line with the revised distribution policy announced at our full year results in March 2026. Our capital return plans remain on track with £68.4 million of the £100 million buyback completed at an average share price of 186 pence as at 31 July 2026.

Strategic positioning

Our strategy allows us to deliver wealth solutions to UK households at scale or at a bespoke, individual level. In either case these outcomes are built around the personal nature of adviser-client relationships that are core to our industry’s success.

Fundscape, an independent platform analysis company, expects UK advised platform assets of c.£780 billion at end December 2025 to increase by around 80% by end 2030, representing a c.13% CAGR, in their base case, with this growth underpinned by three structural factors:

• the need to support customers who recognise the need to take personal responsibility for their long-term financial security;
• the facilitation of increasing levels of inter-generational wealth transfer in a tax-efficient manner; and
• regulatory changes such as Targeted Support and Simplified Advice broadening the advice market, with policy makers recognising a broader spectrum of individuals that require help to meet their financial goals.

As the Platform market is consolidating by flows into a handful of leading providers, we expect this to allow leading players to deliver an above market growth rate. With £118 billion of AuA, Quilter combines the UK’s largest and fastest growing advised platform of scale, with our well-performing WealthSelect managed portfolio proposition. Our WealthSelect MPS is also a clear market leader with over £29 billion of Assets under Management, making us well positioned to capitalise on these trends.

Over the last few years, we have repositioned our distribution efforts for our Platform and solutions business and this is clearly evidenced through the improvement in market share and flows we have delivered over this period. The lessons we have learned from that process are now being applied to our High Net Worth segment where we also see strong potential for Quilter Cheviot. Fundscape expect the discretionary solutions market in the UK will grow from around £760 billion to around a trillion pounds of assets by 2030, an increase of around 30%. We see opportunity to deliver on that growth opportunity by broadening the traditional discretionary fund management (“DFM”) proposition and to serve a wider range of clients who are willing to pay a premium price for a more personalised investment management service.

We continue to demonstrate the strength of our market position in a structural growth market where the quality of our proposition and breadth of our distribution allow us to drive both market share gains and sustainable revenue growth. As a result, we have revised our net inflows target up from 4-5% through a cycle to an expectation of continuing to deliver peer leading performance.

Our goal is to be the market leading customer champion in the long-term savings and investment market. Our business focus, investment solutions and client philosophy all support the delivery of good customer outcomes through long-term wealth accumulation.

My priorities

Looking ahead, the focus is on two principal goals:

1. Continuing to broaden distribution

Our Platform is the principal proposition for our own Quilter adviser network and continues to gain market share across IFA firms. As well as providing platform services to clients and advisers, our goal is for Quilter to maintain its position as the leading fund solution provider for IFAs. To support this goal, we have now added our WealthSelect MPS to six external platforms. This allows IFAs to use it as their primary investment solution for all their clients regardless of the platform used by that customer.

During the first half of 2026 we added nine RFPs to our adviser base, despite a planned exit of 16 advisers from Quilter Cheviot since year-end. That was undertaken as part of a deliberate strategy to reshape our adviser base within that segment to ensure better customer alignment as well as improved productivity. We now have 1,462 Quilter RFPs across our network which we will continue to grow over time by adding firms and new graduates from our Adviser Academy. In the first half of 2026, 73 academy recruits joined our business (H1 2025: 63). Our medium-term goal remains for academy graduates to broadly offset natural attrition from retirements, with growth coming from new advisers and firms joining the network.

Our Quilter Partners proposition also continues to deliver strong growth and we have added a further partner hub, taking the total to 11. Since the beginning of 2024, our Quilter Partner firms have completed around 30 acquisitions adding around £925 million of AuM.

As already noted, we continue to evolve our High Net Worth proposition within Quilter Cheviot. The recent acquisition of GillenMarkets in Ireland resulted in us adding five investment managers and we will seek to do more of this where we see appropriate opportunities in the future.

We were among the first UK firms to receive Targeted Support permissions with our offering positioned under the Quilter Invest brand. While the operation remains at the early-growth stage, it provides us with another distribution channel for future generations, and we have been able to test and evolve potential customer propositions in an accelerated manner.

2. Driving operating leverage and efficiency

We operate as a leading player in an industry with strong structural growth prospects. Our core Platform and Solutions are highly scalable. As the fastest growing and one of the largest players in these markets, we are well placed to deliver further operating leverage. Increasing scale leads to a lower average cost to serve. We anticipate further efficiency opportunity with planned investment in technology and AI tools. Our expectation is that the combination of these supports a pathway to the Group delivering an operating margin of at least the mid-30s, in time.

Outlook

We enter the second half with strong momentum, having delivered continued strong growth in flows, profit and earnings in the first six months of the year. Our strategy is working – we are benefiting from structural growth in the UK wealth market, broadening our distribution reach and investing in the capabilities that will support future efficiency and operating leverage.

We are continuing to invest in our brand, propositions and business capabilities, and expect second half costs to be broadly in line with the first half. Assuming normal markets and reflecting the revenue benefit from first half net flow momentum and current market levels, we currently anticipate second half adjusted profit to be around a mid-single digit percentage above the first half level.

Whilst we expect the UK macroeconomic environment to remain stable, the recent change in the UK’s political leadership may again lead to speculation ahead of the October Budget, as we have seen in recent years. Our message to policymakers is clear: if the UK is to increase household participation in long-term saving and investment, individuals need a stable policy environment that allows them to plan for the future with confidence. Major changes to long-term savings policy should be developed through a clear consultation process, with sufficient transition periods. Last year, speculation about potential changes to pension tax-free cash rules led many people to access their savings early, and our research indicates that around three in five retirees (61%) who withdrew tax-free cash from their pension ahead of the Budget now say they regret doing so.

While some short-term uncertainty may persist, we remain very optimistic about Quilter’s prospects. We are focused on supporting advisers and customers, delivering good customer outcomes, and creating sustainable value for all our stakeholders over the years ahead.

Steven Levin

Chief Executive Officer

Please follow this link for the full announcement.

Quilter plc results for the period ended 30 June 2026

Steven Levin, CEO, and Mark Satchel, CFO, will give an audio presentation via webcast at 08:00am (BST) today, 6 August 2026. The presentation will be followed by a Q&A session.

The presentation will be available to view live via the webcast or can be listened to via a conference call facility. Details on how to join online or via conference call can be found on our website: 2026 results and presentations | Quilter plc

Note: Neither the content of the Company's website nor the content of any website accessible from hyperlinks on this announcement (or any other website) is incorporated into, or forms part of, this announcement.

Disclaimer

This announcement 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 because they relate to future events and circumstances which are beyond Quilter plc’s control, including, amongst other things, international and global economic and business conditions; the implications and economic impact of global conflicts, economic and political uncertainty, market related risks such as fluctuations in interest rates, inflation, deflation, equity markets, credit markets, and exchange rates, the policies, actions and timing of decisions by regulatory authorities, changes in laws, tax policy or regulations in the jurisdictions in which Quilter plc and its affiliates operate; and impact of competition within the financial services industry.

Forward looking statements are also subject to risks relating to operational and technological resilience, including cybersecurity threats, data breaches, system failures, IT infrastructure changes, and dependence on third party suppliers and outsourcing partners. Additional uncertainties may arise from evolving consumer behaviours, demographic trends, and the broader macroeconomic environment, as well as the timing, completion and integration of any future acquisitions, divestments or business combinations.

These and other factors could cause Quilter plc’s actual future financial condition, performance and results to differ materially from the plans, goals and expectations expressed or implied by forward looking statements. Quilter plc therefore cautions readers not to place undue reliance on such statements, which speak only as of the date made, and undertakes no obligation to update publicly or revise this announcement or any forward looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.