Salford-based investment platform giant AJ Bell has reported record assets under administration (AUA) of £90.4 billion, up 13% over the last year and 1% over the latest quarter.
In a trading update for the three months ended March 31, 2025, AJ Bell reported strong growth in customer numbers, increasing by 32,000 in the quarter to close at 593,000, up 18% in the last year and 6% in the quarter.
Total advised customers stood at 177,000, up 7% in the last year and 2% in the quarter.
Gross and net inflows on the platform in the run up to the tax-year end were significantly higher than in the comparative quarter last year.
Gross inflows in the quarter were £4 billion, up 18% on the prior year. Net inflows in the quarter were £1.9 billion, up 19% on the prior year.
At the AJ Bell Investments business, assets under management increased to £7.5 billion, up 29% over the last year and 4% in the quarter, with net inflows in the quarter of £400 million.
AJ Bell CEO Michael Summersgill said: “We continued the strong start to our financial year as our platform attracted over 30,000 new customers in the quarter and achieved net inflows of £1.9 billion to surpass £90 billion of AUA for the first time. AJ Bell Investments sustained its excellent growth with quarterly net inflows of £0.4 billion resulting in closing AUM of £7.5 billion, up 29% in the last year.
“These results highlight the strength of our dual-channel platform, as our market-leading customer service and low-cost, easy-to-use platform propositions continue to be highly valued by customers and advisers. Our D2C platform enjoyed its strongest quarter ever, delivering record-breaking customer growth and net inflows, reflecting the benefits of our continued investment in brand and propositions.
“The UK Government’s commitment in the Spring Statement to boost the culture of retail investing through both ISA reform and the ongoing work on Targeted Support was an encouraging step. We believe a powerful combination of straightforward reforms, centred on implementing Targeted Support and simplifying cash and stocks and shares ISAs into a single product, would significantly reduce the barriers between saving and long-term investing.
“We have started the second half of our financial year in a strong position. Since the quarter end, global trade tariffs and broader macroeconomic uncertainty have created significant market volatility. This has led to increased D2C trading activity as customers use the flexibility of our platform to respond to changing market dynamics. The long-term investment outlook among customers is illustrated by the fact more than three-quarters of these trades were buys with the net investment totalling more than £300 million.
“Whilst recent volatility has impacted market levels, we have a proven track record of growing across different market conditions. There remains a significant structural growth opportunity in the UK platform market and our well-diversified revenue model enables us to continue to invest in our propositions and brand to drive long-term growth.”