British wealth manager Quilter, which separated from Old Mutual in 2018, says it expects to create more value for its shareholders after finalising the sale of its life insurance unit.

Despite mass outflows of clients’ funds and a 15% rise in costs in the first half of 2019, CEO Paul Feeney said Quilter’s transition to an advice-led wealth management firm will see it return more value to shareholders in the coming years than it did in its first year as a separately listed entity...