Wealth manager Utmost International said it attracted £4.2bn gross flows and secured £1.3bn net flows for 2022 despite “a challenging macroeconomic and inflationary backdrop.”

Wealth manager and Financial Planner Quilter has received regulatory approval for the sale of its international business to Utmost Group.

Quilter Financial Planning generated £1bn in integrated net flows for the three months ended 31 March, an increase of 43% from Q1 2020.

Life insurance specialist Utmost Group is to acquire Quilter’s cross-border platform Quilter International for £483m cash to add to its wealth solutions arm.