Quilter facing redress claims

09/04/25

Quilter, one of the largest networks of independent financial advisors (IFAs) in the UK, is facing potential redress claims of £115m, following a review by the Financial Conduct Authority (FCA).

The ‘skilled person review’ instigated by the FCA follows that carried out at other large advising firms, although the potential redress amount is a fraction of that set aside by (for example) St James’ Place.

“Following the provider’s (Quilter’s) fourth quarter trading statement, analysts at Panmure Liberum predict Quilter’s potential redress “to be a figure closer to £115m, significantly lower than the £426m that SJP was forced to set aside.” [Source: citywire.com, 28 January 2025]

Despite the FCA scrutiny and potential redress claims, Panmure Liberum remain upbeat about the firm’s prospects.