AJ Bell hits record assets under administration as customer numbers surge

AJ Bell, a London-listed investment platform, has reported record assets under administration and management after attracting a large number of new customers across its divisions. In its end-of-year trading update, AJ Bell disclosed a 22% year-on-year increase in assets under administration (AUA) to £126 billion, alongside a 44% rise in assets under management (AUM) to £12.1 billion.

The company's net inflows rose 37% from £7.1 billion to £9.7 billion, while gross inflows jumped to £21.5 billion. Customer growth was a significant factor, with the total number of customers increasing by 24% to 796,000. Both business segments reported growth, with the total advised customers increasing by 12,000 to reach 194,000.

The company's channel achieved record gross inflows of £8.7 billion, while the direct to consumer (D2C) clients increased by 30% to 602,000, generating £7.8 billion in inflows. AJ Bell's Chief Executive Officer, Michael Summersgill, attributed the influx of new customers to the "strong appeal of our low-cost, trusted platform." The investment solutions channel also attracted strong flows in both advised and D2C businesses, reaching record inflows of £1.9 billion, thanks to clients actively seeking low-cost investment solutions.

AJ Bell continues to streamline its business by ceasing its 'non-platform' operations, including the wind down of its remaining third-party SIPP arrangement, expected to be completed by the first quarter of 2027. The company's strategy of accelerating growth through increased investment in brand, marketing, and platform propositions has proven successful, as it continues to attract long-term investors with the potential to grow their assets over time.