Quilter set aside budget for next year’s growth strategy

Quilter is reported to have a budget of £20m for acquiring and growing firms in the coming year, according to chief finance officer Tim Tookey.
Mr Tookey was commenting after Quilter, previously known as Old Mutual Wealth, released its initial set of results as a public company in which it revealed profits of £110m for the six months to the end of June.
In those results, acquisition of firms was highlighted as a key source of growth for the future of Quilter.
Mr Tookey said cash continues to be invested in the adviser school and the recruitment of advisers, but £20m has been set aside “per annum for the acquisition of advice capacity, the vast majority of which is capital cost”.
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