Salford-based investment platform giant AJ Bell reported strong growth in customers and assets under administration on Thursday to record highs. 

The company said the number of customers using its investment platform increased 14% over the previous year to close at 542,000 at the end of September, while assets under administration rose 22% to £86.5 billion. 

Michael Summersgill, Chief Executive Officer at AJ Bell, said: “Our strategy is centred on our dual-channel platform which serves both the advised and D2C platform markets using a single technology platform and single operating model. This maximises our growth opportunity within the platform market, whilst being highly efficient to operate. Platform net inflows of over £6 billion demonstrates the benefit of serving both markets, while our efficient model drives strong profitability, enabling continual reinvestment in the business to support our long-term growth ambitions.

“Our investments business continued to perform strongly in both the advised and D2C markets, with £1.5 billion of net inflows helping to drive assets under management up to £6.8 billion, 45% higher than a year ago.”