Assets under management and administration for Financial Planner and wealth manager Quilter dropped 5% to £101.9bn in the first three months of the year, compared to £107.2bn in 2022.

Investment manager and adviser support provider Tatton Asset Management has reported a 22% rise in its assets under management (AUM) to £13.87bn in the year to the end of March.

Assets under management (AUM) at mutual provider Royal London shrank more than 10% from £164bn at the end of 2021 to £147bn last year.

Wealth manager Quilter has reported a fall in assets under management and net inflows in its fourth quarter, but bosses said the firm ended the year on “a solid note.”