Quilter adjusted profit for 2023 jumps 25% to £167m

'Year of strong delivery'

Quilter’s adjusted profit before tax in 2023 increased by 25% to £167m compared to £134m in 2022, according to its preliminary results for the year ended 31 December.

Assets under management and administration (AuM) were £106.7bn at 31 December 2023 and had increased by 7% over the year. It said this was mainly down to "supportive markets" into year-end with net flows making a "modest contribution". It also said core business net inflows of £832m (2022: £2,122 million) represented 1% of opening AuM (2022: 2%). "This was supported by continued strong inflows into the Quilter channel with net outflows in the IFA channel, reflective of challenging market conditions," the results said. Chief executive Steven Levin said: "2023 was a year of strong de...