AJ Bell assets under administration hit record high in Q1

(Sharecast News) - Online investment platform operator and stockbroker AJ Bell said on Thursday that it had delivered further growth across its platform business in its first trading quarter, with assets under administration reaching a fresh record high. Platform assets under administration reached a record £108.0bn, up 21% year‑on‑year and 5% in the quarter, with the company recording higher gross and net inflows year-on-year, despite a greater impact from UK Budget uncertainty than in 2024. Gross inflows hit a quarterly record of £4.6bn, up from £3.6bn, while net inflows rose to £1.5bn from £1.4bn. Market movements added 3% to opening AUA.

AJ Bell Investments also saw strong momentum, with assets under management increasing to £9.5bn, up 32% over the year and 7% in the quarter. Net inflows totalled £300m, down from £400m a year earlier.

In its non‑platform division, AJ Bell completed the sale of its Platinum SIPP and SSAS business on 3 November, transferring £3.3bn of AUA and 3,400 customers to InvestAcc Group.

AJ Bell added that customer numbers had risen by 29,000 to 673,000, ending the the quarter with 185,000 advised customers, an increase of 6% on the year, while direct‑to‑consumer customers rose 26% to 488,000.

Chief executive Michael Summersgill said: "We have started the year with strong momentum. The platform market presents significant long-term growth opportunities, and our dual-channel model, supported by continued business investment, ensures we are well-placed to deliver on this opportunity."

Reporting by Iain Gilbert at Sharecast.com