REG - Quilter PLC - Annual Financial Report and Notice of AGM
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RNS Number : 9927W Quilter PLC 17 March 2026
17 March 2026
Quilter plc
Annual Report and Accounts 2025 and Notice of Annual General Meeting 2026
Quilter plc (the "Company") announces that copies of the following documents
have been submitted to the National Storage Mechanism and will shortly be
available for inspection at
http://data.fca.org.uk/#/nsm/nationalstoragemechanism:
1. Annual Report and Accounts 2025 (the "2025 Annual Report");
2. Notice of Annual General Meeting 2026 (the "Notice"); and
3. Forms of Proxy for the Annual General Meeting 2026.
These documents will be posted to shareholders on Wednesday 1 April 2026. The
2025 Annual Report is also available to view online at
plc.quilter.com/annualreport and the Notice is available online at
plc.quilter.com/gm.
Annual General Meeting
The Company's 2026 Annual General Meeting (the "2026 AGM") will be held on
Thursday 14 May 2026 at 11:00am (UK time) at Senator House, 85 Queen Victoria
Street, London EC4V 4AB. Please ensure you check plc.quilter.com/gm regularly
for up-to-date information about our AGM arrangements.
Key dates for shareholders
The table below shows the key dates for shareholders in respect of the 2026
AGM.
Posting record date Posting date Last day to trade* Proxy date for registered holders Record date to attend and vote Date of 2026 AGM
Holdings on the London Stock Exchange Tuesday 17 March 2026 Wednesday 1 April 2026 - Tuesday 12 May 2026 at 11:00am (UK time) Tuesday 12 May 2026 at 6:30pm (UK time) Thursday 14 May 2026 at 11:00am (UK time)
Holdings on the Johannesburg Stock Exchange Tuesday 17 March 2026 Wednesday 1 April 2026 Thursday 7 May 2026 Tuesday 12 May 2026 at 12:00pm (SA time) Tuesday 12 May 2026 at 7:30pm (SA time) Thursday 14 May 2026 at 12:00pm (SA time)
*Last Day to Trade is applicable only to holders on the Johannesburg Stock
Exchange. Holders can trade their shares up to the close of business on this
date and thereafter the register is closed for the purposes of determining
which holders are entitled to vote in respect of the 2026 AGM.
Market purchase of own shares
Pursuant to UK Listing Rule 9.6.4, in addition to renewing the Company's
existing authority to make market purchases of its own shares, the Company
announces that it intends to propose a resolution at the 2026 AGM seeking
authorisation to enter into Contingent Purchase Contracts with each of: (a)
Citigroup Global Markets (PTY) LTD, (b) Goldman Sachs International, (c)
Investec Wealth & Investment International (Pty) Ltd, (d) J.P.Morgan
Equities South Africa Proprietary Limited; and (e) Merrill Lynch
International. The purpose of this authority is to enable the Company to
purchase up to a maximum of 139,992,552 ordinary shares of the Company which
are currently listed on the Johannesburg Stock Exchange (such maximum to be
reduced by any purchases made pursuant to any general authority of the Company
to make market purchases of its own shares).
Full details in respect of the proposed resolution are set out in the Notice.
Additional information
Information required to be communicated in unedited full text is included in
the 2025 Annual Report which will shortly be available for inspection on the
National Storage Mechanism.
The following information is extracted from the 2025 Annual Report and should
be read in conjunction with the Quilter plc 2025 Full Year Results
announcement issued on Wednesday 4 March 2026. Both documents can be found at
plc.quilter.com/investor-relations and together constitute the material
required by DTR 6.3.5 to be communicated to the media in unedited full text
through a Regulatory Information Service. This material is not a substitute
for reading the 2025 Annual Report in full.
Principal risks and uncertainties
During 2025, the Board Risk Committee has overseen the Group's risk profile,
focusing on the Level 1 risk categories, which describe the principal areas of
risk exposure for Quilter. The table below sets out Quilter's principal risks
and uncertainties, including Executive Committee member ownership and key
mitigants being implemented by management. The risk trend noted is the overall
residual risk trend (after the application of controls) over the year.
Principal risk Principal risk description Primary risk owner Risk mitigation activities Risk trend
Business strategy and performance Quilter's principal revenue streams are related to the value of AuMA and, as Chief Financial Officer Mitigation in 2025 Stable
such, Quilter is exposed to the condition of global economic markets. Whilst
global markets posted strong gains during 2025, geopolitical and macroeconomic • Strategic alignment and organisational simplification to drive
risks remain elevated. These risks could negatively impact the global economy, operating efficiencies.
affecting investment performance.
• Continuation of Wealth and Advice transformation programmes.
Quilter is also exposed to revenue margin pressure driven by changing
investment preferences and market dynamics. This risk is managed through Planned and ongoing activity
actions to drive growth in net flows and AuMA, the launch of new customer
propositions and business simplification and efficiency. These actions aim to • Activities to support adviser and investment manager recruitment
grow Quilter's revenues whilst managing Quilter's expenses. and retention.
• Ongoing management and delivery of business transformation
programmes.
Quilter has also continued its transformation journey during 2025, through
initiatives relating to Quilter's strategic priorities to grow distribution, • Continued focus on developing Quilter's direct to customer
enhance propositions and be future fit. strategy.
Business operation The provision of services to customers is dependent upon effective operational Chief Operating Officer Mitigation in 2025 Stable
systems, processes and third-party suppliers, competent staff resources and
complete and accurate data. Any failure to maintain these elements could • Continued enhancement of Quilter's operational environment, supported
adversely affect customer outcomes. by a review of vulnerabilities, impact tolerances and indicators in relation
to Important Business Services.
• Ongoing business simplification activity.
Quilter relies on third-party service providers for several Important Business
Services. The successful delivery of strategic and regulatory change projects
also depends, in part, on third-party providers delivering effectively.
Ineffective third-party relationships could disrupt the provision of services Planned and ongoing activity
to customers or impact the delivery of change initiatives.
• Ongoing focus on third-party risk management activities.
• Continuous improvement with regard to business resilience.
Inadequate or poorly managed data could impair Quilter's ability to deliver
effective customer services and limit the organisation's ability to fully • Enhancement of Quilter's data governance framework to support ongoing
leverage AI opportunities. compliance, innovation and strategic insight.
Technology and security A stable, reliable, and up-to-date technology environment underpins the Chief Operating Officer Mitigation in 2025 Increasing
delivery of Quilter's services to customers and advisers and ensures that
Quilter has technical resilience proportionate to its risk appetite. • Completion of infrastructure refresh programme and decommission of
data centres.
• Completion of the cyber security improvement plan.
Disruption to the stability and availability of Quilter's technology, or that
of third-party service providers, could result in damaging service outages and
a potential breach of impact tolerances for Quilter's Important Business
Services. Moreover, the risk of an information security incident is a constant Planned and ongoing activity
and evolving risk which has the potential to impact Quilter's reputation,
regulatory standing and the services it provides to customers. • Continuous technology improvements following the recent
modernisation to ensure it remains secure and functional.
• Embedding of the continuous security testing programme.
• Continuous improvement of the supplier assurance approach to ensure
technology and security controls remain within appetite.
Customer and product proposition Quilter's purpose is underpinned by its suite of product propositions, which Chief Distribution Officer Mitigation in 2025 Stable
drive good customer outcomes, and processes in place to ensure that the risk
of foreseeable harm is identified and mitigated. • Launch of new investment propositions in QC and QI to provide
additional choice aligned to customers' risk appetites.
• Enhancements to the CashHub proposition, including the ability for
The delivery of quality advice coupled with a consistently high level of customers to benefit from increased FSCS protection.
adviser conduct and competency is essential. A lack of robust oversight by
Quilter could lead to delayed identification of unsuitable advice or products
resulting in poor outcomes for customers. As such, Quilter continually looks
to improve its control environment in relation to the oversight of advice and Planned and ongoing activity
remains focused on ensuring that products and services are designed and
maintained in line with the Consumer Duty. • Quilter's new Chief Customer Officer joined in January 2026 to own
and enhance the focus on good customer outcomes.
• Launch of the Quilter Smoothed Funds, in partnership with Standard
Life, for customers planning for, and in, retirement.
• Preparation for the new Targeted Support regime in 2026.
• Continued strengthening of financial advice processes and
supporting controls.
Regulatory, tax and legal Quilter is subject to conduct and prudential regulation in the UK, provided by Chief Risk Officer Mitigation in 2025 Stable
the FCA and PRA, and by local regulators in the other jurisdictions in which
the Group operates. This includes regulation concerning the prevention of • Continued design and implementation of control enhancements to
financial crime and market abuse. Quilter is also subject to the privacy address areas of heightened risk identified during the Skilled Person Review
regulations enforced by the Information Commissioner's Office and process and other self-identified areas.
international equivalents.
• Enhancements to financial crime controls, including strengthened
name screening and transaction monitoring.
Quilter faces risks associated with compliance with these regulations, and
changes to regulation or regulatory focus in the markets in which Quilter
operates and other statutory requirements. Failure to effectively manage Planned and ongoing activity
compliance with regulatory, tax or legal requirements effectively could result
in censure, fines or prohibitions which could impact business performance and • Delivery of the Ongoing Advice Review remediation programme.
reputation.
• Identification and assessment of material controls across the
Group to meet UK Corporate Governance Code 2024 requirements.
• Ongoing proactive engagement with regulators and horizon scanning
to understand and prepare for changes to regulation.
• Continued strengthening of the financial crime control
environment.
People Quilter relies on its talent to deliver service to customers and to progress Chief People Officer Mitigation in 2025 Stable
strategic initiatives. Quilter's talent pool is key to the ongoing progress of
the Company by having a diverse range of staff and views that will provide the • Strategic workforce planning and recruitment, including AI and
senior management of the future. We seek to proactively identify talent gaps digital capabilities to drive innovation.
to support the future capabilities required to implement Quilter's strategy
and have updated the related risk appetite to help drive a high-performance • Culture programme activity.
culture.
Planned and ongoing activity
Ensuring that staff and management stand behind Quilter's values which
underpin the culture of the firm is fundamental to a proactive, risk aware • Ongoing diversity, equity and inclusion and wellbeing initiatives.
firm which values its people and the need to uphold its regulatory
obligations. • Ongoing talent management and succession programme.
• Ongoing regular employee engagement surveys.
Quilter promotes a culture in which colleagues are encouraged to raise • Ongoing all-employee conferences.
concerns confidentially about any potential misconduct.
Statement of Directors' responsibilities in respect of the Annual Report and
the financial statements
The Directors are responsible for preparing the Annual Report and the Group
and Parent Company financial statements in accordance with applicable laws and
regulations.
Company law requires the Directors to prepare Group and Parent Company
financial statements for each financial year. Under that law, the Directors
have prepared the Group financial statements in accordance with UK-adopted
international accounting standards and the Parent Company financial statements
in accordance with United Kingdom Generally Accepted Accounting Practice
(United Kingdom Accounting Standards, comprising FRS 101 "Reduced Disclosure
Framework" and applicable law).
Under company law, the Directors must not approve the financial statements
unless they are satisfied that they give a true and fair view of the state of
affairs of the Group and Parent Company and of the profit or loss of the Group
for that period. In preparing the financial statements, the Directors are
required to:
· select suitable accounting policies and then apply them consistently;
· state whether applicable UK-adopted international accounting standards have
been followed for the Group financial statements;
· state whether applicable United Kingdom Accounting Standards, comprising FRS
101, have been followed for the parent Company financial statements, subject
to any material departures disclosed and explained in the financial
statements;
· make judgements and accounting estimates that are reasonable and prudent; and
· prepare the financial statements on the going concern basis unless it is
inappropriate to presume that the Group and Parent Company will continue in
business.
The Directors are responsible for safeguarding the assets of the Group and
Parent Company and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
The Directors are also responsible for keeping adequate accounting records
that are sufficient to show and explain the Group's and the Parent Company's
transactions and disclose with reasonable accuracy at any time the financial
position of the Group and Parent Company and enable them to ensure that the
financial statements and the Directors' Remuneration Report comply with the
Companies Act 2006.
The Directors are responsible for the maintenance and integrity of the Parent
Company's website. Legislation in the United Kingdom governing the preparation
and dissemination of financial statements may differ from legislation in other
jurisdictions.
Directors' confirmations
The Directors consider that the Annual Report and the Group and Parent Company
financial statements, taken as a whole, are fair, balanced and understandable
and provide the information necessary for shareholders to assess the Group's
and Parent Company's position and performance, business model and strategy.
Each of the Directors, whose names and functions are listed in the Governance
Report, confirm that, to the best of our knowledge:
· the Group financial statements, which have been prepared in accordance with
UK-adopted international accounting standards, give a true and fair view of
the assets, liabilities, financial position and profit or loss of the Group;
· the Parent Company financial statements, which have been prepared in
accordance with United Kingdom Accounting Standards, comprising FRS 101, give
a true and fair view of the assets, liabilities and financial position of the
Parent Company; and
· the Strategic Report includes a fair review of the development and performance
of the business and the position of the Group and Parent Company, together
with a description of the principal risks and uncertainties that they face.
Signed on behalf of the Board
Steven Levin Mark Satchel
Chief Executive Officer Chief Financial Officer
4 March 2026
40: Related party transactions
In the normal course of business, the Group enters into transactions with
related parties. Loans to related parties are conducted on an arm's length
basis and are not material to the Group's results. There were no transactions
with related parties during the current year or the prior year which had a
material effect on the results or financial position of the Group.
40(a): Transactions with key management personnel
Key management personnel are those persons having authority and responsibility
for planning, directing and controlling the activities of the Group, directly
or indirectly, including any Director (whether executive or otherwise) of
Quilter plc. Details of the compensation paid to the Board of Directors as
well as their shareholdings in the Company are disclosed in the Directors'
Remuneration Report.
40(a)(i): Key management personnel compensation
31 December 2025 31 December 2024
£'000 £'000
Salaries and other short-term employee benefits 8,124 7,292
Post-employment benefits 82 98
Share-based payments 4,160 4,393
Termination benefits 240 365
Total compensation of key management personnel 12,606 12,148
40(a)(ii): Key management personnel transactions
Key management personnel and members of their close family have undertaken
transactions with the Group in the normal course of business.
The Group's products are available to all employees of the Group on
preferential staff terms, the impact of which is immaterial to the Group's
financial statements. During 2025, key management personnel and their close
family members contributed £2 million (2024: £1 million) to Group pensions
and investments (in both internal and external funds). The total value of
investments in Group pensions and investment products by key management
personnel serving at any point during the year and their close family members
was £12 million at the end of the year (2024: £13 million).
As disclosed in the Directors' Report, the Company maintains Directors' and
Officers' Liability Insurance and third-party indemnity provisions are in
place for the benefit of the Company's Directors.
40(b): Associates
During 2024 and 2025, IT services were provided to the Group by 360 Dot Net
Limited, an associate of the Group. Three further associates, Digby Associates
Limited, Beals Mortgage and Financial Services Limited, and its subsidiary,
Clinton Kennard Associates Ltd, are Appointed Representatives of Authorised
Firms within the Group. Transactions between the Group and its associates took
place in the normal course of business and had no material impact on the
Group's financial statements.
40(c): Other related parties
Details of the Group's staff pension schemes are provided in note 34.
Transactions between the Group and the Group's staff pension schemes are made
in the normal course of business.
- ends -
Enquiries:
Investor Relations:
John-Paul Crutchley Tel: +44 (0)7741 385 251
Company Secretary:
Clare Barrett Tel: +44 (0)207 002 7072
Press:
Tim Skelton-Smith Tel: +44 (0)7824 145 076
Registrars:
Shareholders on the UK Register:
Equiniti Website: help.shareview.co.uk
Tel: +44 (0)333 207 5953*
Please use the country code when contacting Equiniti from outside the UK.
*Lines are open Monday to Friday between 08:30 and 17:30 (UK time), excluding
public holidays in England and Wales.
Shareholders on the South African Register:
JSE Investor Services (Pty) Limited Email: investorenquiries@jseinvestorservices.co.za
Tel: 086 140 0110/086 154 6566* (calling from South Africa)
Tel: +27 11 029 0251/+27 11 029 0253* (calling from overseas)
*Lines are open Monday to Friday between 08:00 and 16:30, excluding public
holidays.
About Quilter plc:
Quilter plc is a leading provider of financial advice, investments and wealth
management, committed to being the UK's best wealth manager for clients and
their advisers.
Quilter oversees £141.2 billion in customer investments as at 31 December
2025.
The business is comprised of two segments: Affluent and High Net Worth.
Affluent encompasses the financial planning business, Quilter Financial
Planning, the investment platform, Quilter Investment Platform, the digital
savings and investment app, Quilter Invest, and the multi-asset investment
solutions business, Quilter Investors.
High Net Worth comprises the discretionary fund management and financial
planning business, Quilter Cheviot.
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