Rathbones suffers near £1bn net outflows as it braces for FCA probe falloutQuilter hit record inflowsRathbones took a near-£1bn hit in net outflows in the first half of the year as it braces for further costs from a probe into the company following concerns raised by the financial watchdog. Net flow troublesThe FTSE 250 group’s asset management arm continued to struggle against industry-wide pressure on active equity strategies, leading to outflows of £0.4bn, and leaving group net outflows flat overall in the second quarter. Net outflows for the first half of the year overall stood at £0.9bn. Its wealth management channel recorded net inflows of £0.4bn in the second quarter, while its discretionary and managed channel attracted £0.5bn. This offset net outflows of £0.4bn in the first quarter, resulting in “broadly neutral net flows” in wealth in the first half of the year overall.