Manchester-based investment platform AJ Bell said on Wednesday its total customer numbers increased 4% in the quarter to December 31 to 241,152, with total assets under administration (AUA) up 5% to £54.7 billion.

In a trading update for its first quarter, ahead of its annual general meeting on Wednesday, AJ Bell said its platform customer numbers increased by 9,033 to 227,202, up 4% in the quarter.

It said platform AUA increased 5% to £47.2 billion, advised platform AUA rose 4% to £35.2 billion, and D2C platform AUA rose 8% to £12.0 billion.

Underlying platform inflows, representing organic growth in the quarter, increased to £1.3 billion.

AJ Bell CEO Andy Bell said: “Our investment platform continues to attract new customers and assets as we maintain our focus on being the easiest platform to use in order to help our customers to invest. 

“December saw the unlocking of the parliamentary deadlock, which boosted markets towards the end of the period.

“Combined with positive net inflows onto the platform, this helped our platform assets under administration increase to a new high of £47.2 billion, up 27% compared to a year ago.

“Whilst Brexit is by no means resolved, a majority Government does at least provide some clearer direction which many investors will appreciate as they consider making the most of their ISA and pension allowances before the end of the tax year.”