Wealth manager and Financial Planner Quilter has reported record core net inflows of £2.28bn in the first quarter of 2025.

First quarter core net inflows were 181% higher than the comparable period in 2024, and were 16% higher than the previous record fourth quarter 2024.

Steven Levin, CEO of Quilter, said that while the first quarter results were strong, the wealth manager was concerned that market volatility could impact profitability this year.

He said: “Thus far in the second quarter we have seen significant volatility across all asset classes, as bond and equity markets have reacted to proposed US tariffs. As a result, the outlook for market levels and interest rates is more uncertain than at our Full Year results just over a month ago.

“Our most recent estimate of AuMA (at 17 April) is around 3% below the quarter end level which, if sustained, would provide a headwind to 2025 revenues and profitability.”

He added that the volatile markets would provide the opportunity for Quilter’s advisers to prove their worth as, “it is during volatile markets that the value of financial advice becomes most apparent”.

The wealth manager’s affluent client segment delivered a particularly strong quarter with a 42% year-on-year increase in gross inflows to £4.19bn (Q1 2024: £2.96bn). Lower year-on-year outflows also contributed to a 179% increase in net inflows for the segment of £2.19bn.

Total net inflows for the affluent segment rose considerably from just over £1bn in Q1 2024 to £2.29bn in the first quarter of 2025.

The Quilter platform also had a strong first quarter, with a 63% year-on-year rise in gross inflows. IFA channel net inflows of £1.57bn were more than triple the same quarter in 2024 (Q1 2024: £423m).

The assets administered on external platforms fell by £1bn year-on-year to £5.8bn.

Quilter’s high net worth segment had a slightly more tepid quarter with gross inflows of £765m broadly in line with its recent quarterly run-rate. The segment reported £119m of net inflows for the quarter in comparison with £93m for the same quarter last year.

For its in-house financial advisers, Quilter Adviser, the wealth manager reported an annualised gross sales figure of £3.4m per adviser, a slight rise from the £3.3m per adviser reported in Q1 2024.