Quilter's net inflows rise as clients seek advice in turbulent markets
Quilter's net inflows rise as clients seek advice in turbulent markets Oct 21 (Reuters) - British asset manager Quilter QLT.L reported a rise in third-quarter net inflows on Wednesday, as geopolitical uncertainty and unpredictable markets drove demand for financial advice and boosted client trading activity.
Quilter, which caters to affluent customers, reported core net inflows of £2.9 billion ($3.88 billion) for the three months ended September 30, up from £2.2 billion a year earlier
Heightened uncertainty caused by the Iran war and a global bond market rout increased demand for financial advisers
High-net-worth net inflows increased 35% from a year earlier
Assets under management and administration increased 19% from a year earlier to £160.5 billion for the wealth manager, which provides financial advice and allows clients to invest on its platform
($1 = 0.7480 pounds)
(Reporting by Simone Lobo in Bengaluru; Editing by Subhranshu Sahu)
((Simone.Lobo@thomsonreuters.com, +919920570373))