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(Sharecast News) - Wealth manager Quilter reported a jump in assets under management on Wednesday, after net inflows soared.
Updating on end of year trading, the firm - a specialist in affluent and high net worth customers - said fourth-quarter reported assets under management and administration were 119.4bn, up from 106.7bn 12 months previously.
Gross inflows were 4.59bn, while core net inflows surged to 1.96bn from 175m.
Over the year to 31 December, gross inflows were 16.04bn, while core net inflows were 5.2bn, a significant improvement on 2023's 832m.
Within the high net worth segment, despite outflows jumping ahead of the Budget in October, net inflows came in at 208m, which Quilter said represented 3% of opening assets on an annualised basis.
Steven Levin, chief executive, 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."
Looking ahead, he added: "Our scale and distribution reach makes us uniquely positioned both the service our customers well and to benefit from the secular growth opportunity that the UK wealth market offers."
Shares in Quilter jumped 5% to 166.4p as trading got underway.
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