Salford-based investment platform giant AJ Bell said its assets under administration (AUA) reached £108.7 billion in its second quarter to March 31, up 20% for the year and 1% for the quarter.
The Salford firm reported record growth in customer numbers for Q2, increasing by 50,000 in the quarter to close at 723,000, up 22% in the last year and 7% in the quarter.
AJ Bell said gross inflows in the quarter were £5.6 billion, up 40% versus the prior year, and net inflows were £2.7 billion, up 42% versus the prior year.
“Market movements reduced AUA growth by 2% in the quarter,” said the Salford firm. “AUA levels reflect ongoing market volatility, with market levels improving post quarter end.”
Total advised customers reached 189,000, up 7% in the last year and 2% in the quarter.
In the group’s investment business, assets under management (AUM) increased to £9.8 billion, up 31% over the last year and 3% in the quarter, with net inflows of £300 million.
AJ Bell CEO Michael Summersgill said: “I am delighted to report an excellent quarter of growth for our dual‑channel platform, as we delivered a record 50,000 net new customers and £2.7 billion of net inflows. This performance reflects the early benefits of our previously announced increased investment in our brand and propositions.
“Our D2C platform delivered its strongest quarter to date, achieving record customer growth – over 50% higher than the same quarter last year – alongside record net inflows.
“This significant increase in new customers reflects the value placed on our low‑cost propositions, ease of use and trusted brand. These factors also contributed to heightened inbound account transfers from other platforms within the market.
“Our Advised platform delivered record‑equalling gross inflows, with strong growth partially offset by anticipated outflows associated with ongoing adviser consolidation …
“Whilst recent market volatility impacted asset values at the end of the quarter, customer appetite to invest remained strong in the run‑up to the tax year-end.
“The UK platform market continues to offer significant structural growth opportunities, and our diversified revenue model and highly scalable business model position us well to continue to invest for long‑term, sustainable growth.”
AJ Bell also announced that financial sector veteran Libby Chambers has been appointed to its board as an independent non-executive director with effect from May 1, 2026.
“In line with the board’s succession planning activity, Libby will assume the role of Chair of the Remuneration Committee, subject to regulatory approval,” said AJ Bell.
“Libby will succeed Margaret Hassall, who will have completed five years’ service on the board.
“Libby began her career at Morgan Stanley & Co. She later completed an MBA at Harvard Business School. Following ten years with McKinsey & Company as an associate and later a partner in its Financial Services and Organisation practices, she worked in C-level product, marketing and strategy roles at a number of global companies including Barclays, Barclaycard, Western Union and Bank of America.
“Libby is currently a non-executive director of Kape Technologies, Wise plc and TSB Bank. She is also Chair of the Remuneration Committee at Wise plc and TSB Bank.
“Her experience in the wealth management industry includes previous board roles at Evelyn Partners (formerly Tilney Smith & Williamson) and 7IM. Libby was also a non-executive director of Vanquis Banking Group plc and Hastings Group plc (where she also chaired the Remuneration Committee).”