UK Platform Transformation Programme
H1 2020: Advice and Wealth Management
Revenue
£m
Expenses
£m
+1%
+8%
195
197
156
145
H1 2019
H1 2020
H1 2019
H1 2020
Flows benefited y-o-y from reduction in Quilter Cheviot outflows and switching into
Quilter Investors' Passive/Blend solutions
Marginally lower RFP productivity as focussed on supporting clients through market
turmoil
Increased QFP revenues from acquisitions offset by reduction in Mortgage and
Protection sales and opportunities to attract new clients through lockdown
Increased expenses as absorbed full impact of H1 2019's Advice acquisitions
Revenue margin trended down, as previously-guided impact of sales in Quilter
Investors' passive/blend solutions gained momentum
1.
Annualised
Adjusted profit
£m
26%
50
-18%
21%
Operating
margin
41
H1 2019
H1 2020
KPIs
H1 2020
H1 2019
Revenue margin
bps
64
67
NCCF
£bn
0.5
NCCF / Opening AuM1
%
2
Closing AuM
£bn
44.1
44.7
Average AuM
£bn
43.3
43.1
Quilter
35
55View entire presentation