Quilter Wealth Management Compensation Claims
Make a claim with AMK Legal
Quilter commits to fostering prosperity through long-term, advice-based relationships. To this end, it charges an annual fee based on client fund values. This fee presupposes an annual review of each client’s personal and financial circumstances to ensure the continued suitability of its products. If such reviews are not conducted annually, you may be entitled to a refund of the fees charged.
If you have not received an annual face-to-face review over the last ten years, contact us to discuss potential refunds and explore your options.
Are you eligible for the Quilter Compensation Claim?
Here are some eligibility criteria for pursuing a compensation claim against Quilter Wealth Management:
- Annual Review Requirement: If you’ve been charged an annual fee based on the understanding that you would receive a yearly personal and financial review to ensure the suitability of the products, but have not received the promised face-to-face review, then you could be due a refund worth thousands of pounds.
- Unsuitable Advice: We will explore the original advice given to you to invest with Quilter. If your circumstances and attitude to risk were not properly considered and you lost money, you could make a claim for compensation.
These points outline the potential grounds on which clients of Quilter might be eligible to seek compensation. You could have a valid claim if any of these situations apply to you. Don’t hesitate to contact us today!
Things to consider before submitting a Quilter claim
The considerations listed below help ensure you’re well-prepared to initiate the claim process against Quilter Wealth Management. However, it’s important to discuss your specific case with financial compensation claim advisers, such as us, to confirm the viability of your claim.
- Review of Services Provided: Confirm whether you have received Quilter’s promised annual financial reviews. These reviews are crucial as they assess whether the investments and products continue to meet your needs.
- Fee Structure: Understand the fee structure Quilter charged you. It is typically a percentage of the assets under management. Ensure these fees align with the services you received.
- Eligibility for Refunds: If you did not receive the annual reviews as part of the service, you might be eligible for a refund of the fees paid during the years reviews were not conducted.
- Documentation: Any paperwork you have will help speed up the process but is not essential, so don’t worry if you don’t have all your details we can still help
The benefits of working with AMK Legal for your claims
Choosing AMK Legal for your compensation claims against Quilter Wealth Management offers several distinct advantages:
- Expertise in Financial Regulations: Our deep understanding of financial regulations ensures we can effectively navigate complex legal landscapes.
- Specialised Knowledge of Quilter’s Practices: With specific insight into Quilter’s operations, we can pinpoint discrepancies and advocate strongly on your behalf.
- Commitment to Client Education: We believe in keeping you informed throughout the process, ensuring you understand each step and your options.
- No-Win, No-Fee Assurance: You won’t face any upfront costs as our fees are contingent upon successfully recovering your compensation.
- Proven Track Record: Our history of securing favourable client outcomes demonstrates our capability and dedication.
- Personalised Service: Each client receives tailored advice and support, ensuring your unique circumstances are meticulously assessed.
Feel free to contact us directly for more details on how AMK Legal can assist you in your claims against Quilter.
Why Quilter Wealth Management is under a regulatory review
Quilter is a leading UK Wealth Management provider whose current structure commenced in 2018. The business was formerly known as Old Mutual Wealth Management Ltd. Quilter manages the investments and pensions of around 500,000 clients, with assets under management of £102bn.
Quilter Wealth Management is under regulatory review after the Financial Conduct Authority (FCA) identified issues with its ongoing charges. This review is part of a more significant effort by the FCA. This recent initiative, involving scrutiny of 20 major financial firms, including Quilter, seeks to correct potentially unfair practices and ensure customers are not overcharged. This action aligns with past regulatory measures aimed at improving consumer protection in financial services.
The FCA’s new Consumer Duty requires higher consumer protection standards and demands that firms like Quilter undertake fair value assessments to demonstrate their commitment to price and value fairness for customers. In response to regulatory pressures and market conditions, Quilter has made strategic adjustments, such as platform upgrades and changes to its adviser school model, rebranding it to an academy to better prepare for future compliance and service demands.
Ready to take the next step in reclaiming your money?
If you would like more information about Ongoing Advice Fees, or to simply talk through your situation, call our friendly team of experts on 01204 565331 or email enquiries@amklegal.co.uk. Alternatively, you can request a call back below and we’ll get back to you straight away.
Quilter FAQs
What is happening with Quilter?
Quilter is currently under scrutiny for its fee structures and the adequacy of its services following a crackdown by the Financial Conduct Authority (FCA) on unfair ongoing charges in the financial services industry. This has led to reviews and possibly compensation claims from clients who may have been affected by these practices.
Is Quilter a UK company?
Yes, Quilter is a UK-based wealth management company. It operates primarily in the United Kingdom and offers various financial planning and investment management services.
Do I need a lawyer to claim compensation from Quilter?
While it’s possible to claim compensation from Quilter without legal assistance, hiring a lawyer like us at AMK Legal can provide many benefits while navigating the claim process including our considerable experience and expertise.
How much will I pay if I make a claim with AMK Legal?
We work on a no-win, no-fee basis, which means that you don’t have to pay any upfront fees. If your claim is successful, our fees, which are set by the Solicitors Regulation Authority, range from 15% to 30% plus VAT depending on the amount of your refund. Learn more about our fees.
What was Quilter previously called?
Quilter was formerly known as Old Mutual Wealth Management Ltd before it rebranded to Quilter PLC in 2018 to separate from the Old Mutual Group and list independently on the stock market. View the full history of Quilters evolution here.