Quiet Power Plays: Where the AGM Ended, the Engagement Began
A candid look at Quilter plc's 2025 hybrid AGM held on 22 May in London.
Quiet Power Plays: Where the AGM Ended, the Engagement Began
🪞 Reflections from Quilter’s 2025 Hybrid AGM
On 22 May at 11am—smack in the middle of AGM season—I chose to attend Quilter’s shareholder meeting. From the outside, it looked like a modest pick: a 15-minute agenda, no more than 30 guests, and I was the only shareholder who asked a question. But what unfolded quietly became one of the most unexpectedly rich engagements of the season.
A Busy Day Full of AGMs—Why Choose Quilter?
I was curious about the role of autonomy in the private wealth sector—especially in a world increasingly shaped by crypto, AI, and decentralised decision-making. Quilter, rooted in the adviser-led model, felt like the right company to ask: how will this model adapt as younger generations favour financial self-direction?
I also wanted to see if a legacy firm in the business of guiding others could itself be open to evolving. As it turned out, I got far more than a procedural AGM.
Small Room, Big Signals
Though short, the AGM was technically seamless—hybrid, well-chaired, and professionally supported by the Co Sec team. The kind of polish you’d expect from a FTSE 100, not just a FTSE 250. But what it had in rigour, it initially lacked in energy: not much retail shareholder participation to speak of despite several in attendance. Only myself and one other spoke up to ask questions. There wasn’t warmth in the room either, and there appeared to be no clear effort to connect beyond the script.
Maybe that’s just how they’ve always done things. Or maybe it’s a cultural hangover—Chair Ruth Markland is the former boss of a magic circle law firm, and the AGM felt more like a legal formality than an investor dialogue. That said, Ruth’s signature locks —pink-tinged now rather than fire engine red like before gave a nod to personality beneath the procedural. And it turned out, the real engagement was still to come.
The Real AGM? Happened After
As I packed up my notes and prepared to make the usual post-meeting rounds, I didn’t need to. CEO Steven Levin and CFO Mark Satchel came straight to me. What began as a check-in turned into a candid, ten-minute conversation—soon joined by Ruth and the Head of Investor Relations John-Paul Crutchley (JP).
Then came another insightful chat—this time with Clare Barrett, Group Company Secretary—to whom I walked over (with JP) after I finally made it out of the AGM room. And we continued the dialogue for another 15 minutes. No fluff, no PR gloss. Just direct, honest conversation between company reps and one of their retail shareholders, who just happens to be governance-obessessed. It was engagement that felt earned, not performed.
Rethinking Retail: Who Gets the Advice?
Quilter doesn’t tell their financial adviser clients who to work with—it’s part of their pitch. But that freedom also raises questions and provides opportunities. The Quilter Academy, for example, appears to train new advisers (often in their early 20s) on traditional investment instruments and home buying. This helps with building understanding and connection with the way much older clients invest. But what about younger investors—the self-directed, crypto-native, Reddit-and-YouTube crowd?
We discussed some potential bridge and even a possible gap in the market: a hybrid Finfluencer–IFA model. One that blends education, storytelling, and guidance. Podcasts, co-branded explainer series, even digital-first collectives—in a fully compliant way. Just like investor relations, there’s room to rethink who advice is for—and how it's delivered.
Finfluencers, the FCA & Where Insight Really Comes From
When asked where next-gen investors go for information, my answer was immediate: TikTok, Reddit, YouTube—not regulated advice, but shared experience. That distinction matters.
The FCA needs to update its mental model. Finfluencers aren’t the enemy—they’re a reality. But they do need clear, proportionate frameworks that support trust without stifling authenticity.
From the Secretariat: Honest Talk
Clare Barrett was clear: small AGMs take just as much planning and resource as large ones. So whether five people show up or 500, the work behind the scenes is the same.
Two standouts from our conversation:
The Chair (of course) and the Company Secretary have important AGM roles—They are critical to the effective fielding of shareholders quesions. Shareholders have gone to the AGM to see and hear from the board and the core executive team. Important that companies don’t outsource this role. The 28-question ‘marathon’ at this year’s Prudential AGM and the effective handling of this by the Chair and Co Sec is prime example of this dynamic functioning well.
Virtual-only isn’t the future. At least not at Quilter. They remain committed to hybrid—because accessibility matters.
Analysts Are Taking Note
It’s not just shareholders. UBS recently upgraded Quilter to Buy, citing clearer strategic focus, better cost discipline, and improving fundamentals. While this AGM didn’t break headlines, the market is quietly registering change.
Final Thoughts: Small Room, Loud Lessons
Quilter’s AGM was a quiet case study in what happens when leaders choose to lean in. It challenged assumptions about who investors are, what they want, and how a company should show up—even when no one’s watching.
This wasn’t just a tick-box AGM. It was a mirror held up to the wealth sector—and a reminder that sometimes, the most meaningful engagement starts in the smallest of rooms.