Shares of Manchester-based investment firm AJ Bell rose 5% on Thursday after it said in a third quarter trading update its customers increased 5% to 224,644 and assets under administration broke through the £50 billion mark to stand at £50.7 billion, an increase of 13% over the past year.

AJ Bell CEO Andy Bell said: “Trading in the third quarter of our financial year remained strong across our advised and direct to consumer platform. 

“We continue to focus on the needs of advisers and customers, making it as easy as possible for them to invest and this has resulted in assets under administration breaking through the £50 billion mark. 

“People need to save more via their pensions and ISAs for the long term and our platform and investment solutions help them do that easily and cost effectively.”