Quilter Share Discussion Threads

[1jat] 04/11/2024 21:46

The budget will create a lot of demand for CGT / IHT / Pensions planning and advice fees.
I suspect Reeves will be back for more in a couple of years….

[martinmc123] 16/10/2024 09:45

4*
The wealth manager published a decent AUM update for Q3 with Group Assets under Management and Administration up 2% to £116.2 billion at the end of September 2024 and up around 15% over the preceding year. Most positively this reflected core third quarter net inflows of £1,507 million representing 5% of opening AuMA on an annualised basis (Q3 2023: 0%). The third quarter net inflows were significantly higher...

...from WealthOracle

wealthoracle.co.uk/detailed-result-full/QLT/877

[1jat] 15/8/2024 15:45

2024/2025 are going to be busy years for Quilter, dealing with whatever Reeves does in October….lots of advice to be given.

[peterbill] 05/6/2024 12:28

Some red flags ... (just my take, modest shareholding)

PE ratio of 40
Earnings per share 3.10p
Dividend per share 5.20p

[robertball] 05/6/2024 07:09

It's all coming together here

[retsius] 03/6/2024 09:53

Many thanks, mm.

[mr morrow] 03/6/2024 08:08

Jp Morgan upgrade from neutral to overweight. PT now 135p from 102p.

[retsius] 03/6/2024 07:32

Any info about rise today?
R.

[robertball] 24/4/2024 21:17

I would think so

[its the oxman] 24/4/2024 10:27

Strong update today. Could it be enough to move us toward 120p in days ahead?

[1jat] 14/3/2024 10:39

Ignore the thumbs down…..it seems to be happening on most boards that any post gets one by default…I do wonder if it is a system bug.

My view (and that of most users) is that if you want to down vote, you should put an alternative view.
And the more posters the better.

I have engaged Quilter to give me advice on my one DB and 6 DC pension pots…will report back on the experience….at the moment it is early days.

[longwell] 11/3/2024 08:07

Impressed with a thumbs down !!!An explanation or view would help.

[longwell] 08/3/2024 14:18

Great result, good dividend yield.Lots of potential, or next take over target?

[1jat] 24/1/2024 09:04

Agreed RB….but the personal line of Aberdeen did reasonably for AUM….it was their Investment Management that was the continuing drag.

I like the focus QLT has on being an advice led business. There is a great need across the country for more finance advice…much of it is quite basic. The recurring nature of many of the relationships and fees makes it reliable income stream.

The problem for retail customers is how much of their returns is taken in charges by the IM, the platform, the advice charge….it can easily get to 2.5-3% pa with tax to pay on top….with that level of burden, getting a real return is extremely challenging.

This will put pressure on costs, and the advice is mostly people based cost which has limits to its scalability….I expect AI will help improve advisor support processes…but how much time this will free up to deal with clients is unknown.

[robertball] 24/1/2024 08:18

Much better than Aberdeen

[1jat] 24/1/2024 08:06

Q4 trading seems to have improved.
I expect a lot of Advice business this year to take advantage of allowances / changes in tax rates that may be temporary.

[its the oxman] 08/8/2023 15:28

Good results. Remains heavily oversold. All the asset managers are near their lows, lots of upside one day.

[neilyb675] 08/8/2023 06:13

RNS Number : 5649I

Quilter PLC

08 August 2023

News Release

8 August 2023

Quilter plc interim results for the period ended 30 June 2023

Quilter delivers 25% increase in adjusted profit and improved operating margin. Further growth and efficiency initiatives underway

Steven Levin, Chief Executive Officer, said:

"We have delivered a strong improvement in first half profitability, pleasing flow outcomes in the Quilter channel and improved our market share of new advised platform flows. Our business model is fully aligned with the principles of the Consumer Duty regime and my focus is on doing more for our customers to improve business momentum in the near-term, and deliver faster growth and higher returns to shareholders in the longer-term. We are targeting an additional GBP50 million of Simplification savings by 2025 and we expect consensus profit estimates for this year to increase materially."

Highlights

-- Assets under Management and Administration ("AuMA") of GBP101.7 billion at the end of June 2023, increased by 2% on 31 December 2022 (GBP99.6 billion) principally due to positive market movements of GBP1.9 billion and:

o Core business gross inflows of GBP5.5 billion in the first half which were broadly evenly spread between each quarter. Core net inflows in the first half were GBP0.7 billion (Q1: GBP409 million, Q2: GBP247 million). This reflected a good performance from the Quilter channel in both High Net Worth and Affluent with a more muted performance from our IFA/Direct channels across both segments. Market share of gross platform flows increased in both quarters. Notably, Q2 flows were up 5% year-on-year despite a 9% decline in the overall market over the same period.

o Non-core net outflows of GBP0.5 billion (H1 2022: GBP0.2 billion) which relate to assets we still manage on behalf of businesses we have sold.

-- Adjusted profit before tax increased by 25% to GBP76 million (H1 2022: GBP61 million). Revenue increased by 3% to GBP312 million (H1 2022: GBP303 million) supported by revenue generated on corporate cash balances. This was coupled with strong expense discipline which delivered a third consecutive decline in first half costs, despite inflationary pressures, and supported an increase in the operating margin to 24% (H1 2022: 20%).

-- We expect to deliver our target GBP45 million Simplification cost savings by end 2023, a year earlier than planned. An additional GBP50 million of Simplification (Phase 2) savings are targeted for delivery by the end of 2025, with initiatives in train to improve each of our businesses.

-- Stabilisation in Quilter restricted adviser headcount which increased by nine financial planners on December 2022 levels.

-- Adjusted diluted earnings per share increased 34% to 4.3 pence (H1 2022: 3.2 pence) supported by the share count reduction from our capital return programme in 2022.

-- IFRS profit after tax attributable to shareholders of GBP5 million (H1 2022: GBP151 million) with the period-on-period variance largely due to market valuation changes in the policyholder tax charge. Basic earnings per share of 0.4 pence (H1 2022: 9.8 pence).

-- Interim Dividend of 1.5 pence per share versus 1.2 pence per share for 2022, representing an increase of 25%.

[chrisdgb] 03/8/2023 20:14

Results next week…

[arthur_lame_stocks] 03/8/2023 18:19

I thought the main markets had recovered somewhat lately? I've been watching these for a while. I haven't checked but I think they may now be trading at a discount to NTAV or at about that with a huge pile of cash. What's put me off is I'm not sure I understand the balance sheet. It seems to look more like a bank's than a fund manager's.

[pugugly] 03/8/2023 10:35

Still trending down - 1 year low - How much further to fall before a scalpers bid? No possibly unlikely with falling markets and thus a decrease in AUM - even without any leavers.

[pugugly] 24/7/2023 11:06

More moving to ETF's So who needs an expensive discretionary wealth manager. With relatively static market share price more likely to trend down than up - imo

[chrisdgb] 24/7/2023 10:13

UK wealth management still consolidating, only a matter of time before a bid here....??