Quilter Financial Planning
Restricted and independent network with deep platform integration.
Spun out of Old Mutual in 2018 and now FTSE 250 listed, Quilter is one of the UK's largest advice & platform groups. The advice arm operates as a network for both restricted (Quilter Financial Advisers, Quilter Mortgage Planning) and independent (Intrinsic, Lighthouse) members. Vertical integration runs through the Quilter Platform, WealthSelect MPS and Cirilium/Creation funds — but member firms retain the choice to use third-party platforms and propositions.
In short
Quilter offers both restricted (Quilter Financial Advisers) and independent (Intrinsic, Lighthouse) propositions, with deep integration into the Quilter Platform.
01 · Charging Model
What it costs the client — and you.
Total client cost is what regulators care about — and what clients shop on. We unpick it across advice, platform and product.
Our take: Network levy + PI + compliance fees take 15–30% of gross adviser revenue. Member-set client charging is transparent.
02 · Investment Proposition
Where client money goes
WealthSelect MPS (8 risk-rated portfolios), Cirilium and Creation fund ranges, plus whole-of-market for Intrinsic IFAs.
- WealthSelect — 8 risk-graded model portfolios, ~25bps DFM fee
- Cirilium — multi-asset active fund range
- Creation — passive-led multi-asset range
- Quilter Investors as in-house multi-manager
- IFAs retain whole-of-market freedom
03 · Tech Stack
What you'll work with daily
- Quilter Platform
- Intelliflo iO (back-office)
- Defaqto Engage (research)
- FE Analytics
- DocuSign
Our take: The 2021–23 Quilter Platform replatforming caused well-documented service issues. Largely resolved by 2024. Intelliflo iO is the standard back-office across the network.
Strengths
Where it shines
- Choice of restricted (QFA) or independent (Intrinsic) badge
- Mature platform & MPS tightly integrated
- Strong PI & compliance support — well-resourced central team
- Reasonable network economics at scale
- Established mortgage & protection routes via Quilter Mortgage Planning
Watch-outs
Where it stings
- Network charges can erode payout for smaller practices
- Restricted arm limits platform/product breadth
- Replatforming pain on the Quilter Platform damaged trust
- Strategic uncertainty — periodic M&A speculation unsettles members
- Less brand pull with HNW than SJP
04 · Who owns it
Ownership
Demerged from Old Mutual in 2018. Speculation around Phoenix Group, M&G or US private equity acquiring the advice business has persisted into 2025.
Currently: FTSE 250 Plc (LON: QLT)
05 · Day-to-day
Culture
Corporate but member-respecting. Network team is technically strong; field engagement varies by region. Less hierarchical than SJP, less entrepreneurial than True Potential.
06 · When you leave
Exit options
Members can transfer ARs to other networks subject to standard novation. Quilter offers an internal acquisition pathway (Quilter Cheviot for HNW books). Restrictive covenants are present but generally lighter than SJP's.
07 · Payout Economics
~70–82% of gross income after network charges
Self-employed and employed routes available. Network levy varies by AR vs DA status, AUM tier and product mix. Mortgage & protection writing typically retained at higher percentages than investment.
08 · Real Voices
What advisers and clients actually say
A balanced selection of public reviews from Trustpilot, Glassdoor, the FT and trade press — both glowing and damning. We don't cherry-pick.
"Our Intrinsic adviser has been excellent — clear advice, no pushiness, and great use of the Quilter platform for reporting. Couldn't be happier."
"Endless platform issues during 2023. Statements wrong, transactions delayed, customer service unreachable. Things have improved but trust took a hit."
Solid infrastructure for the price
"Compliance support is genuinely good. Platform integration saves admin time. Best for principals who want compliance heavy-lifting done."
Network charges add up
"By the time you've paid PI, network levy, platform fee and tech, you're keeping 65% of gross. Fine if you want everything done for you. Not fine if you'd rather DIY."
"Quilter is the safe choice. You won't get rich on the network economics but you won't get into trouble either. Good for advisers in the wind-down decade."
"The Intrinsic independent route is genuinely independent — that distinction matters and Quilter respects it."
Fortis Connect Verdict
Best for
Established practices wanting platform + compliance under one roof, with the optionality of restricted or independent badge.
Watch out for
All-in network costs eroding payout, replatforming legacy issues, and the question of who owns Quilter in 24 months.
Considering Quilter? Get an unbiased second opinion before you sign.
Talk to us →09 · Regulatory & Corporate Timeline
What's happened, and when.
- 2024
FCA dropped enforcement following 2018-era Lighthouse DB transfer review with no further action
- 2023
Quilter Platform migration completed after extended service disruption
- 2018
Demerger from Old Mutual; LSE listing