Quilter has reported that assets under advice and administration fell almost 5% in the first quarter of 2023 compared to the same period a year ago, with net inflows dropping 70%.
The wealth management group reported assets of £101.9bn in the three months to the end of March, versus £107.2bn for the first quarter of 2022. However, the latest quarter's figures were up 2% from 31 December 2022, reflecting net inflows and a modest pick-up in equity markets and slightly lower bond yields in the quarter, Quilter said. Ex-Quilter boss Paul Feeney appointed CEO of Skerritts Group Net inflows of £313m for the quarter were down 70% compared to £1bn in the first three months of 2022, reflecting the period prior to the start of the conflict in Ukraine, it added. ...
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