Customers flock to AJ Bell signalling hope for domestic investing market
AJ Bell, one of the UK’s largest investment platforms, today announced it had signed up another 50,880 customers in the financial year to 30 September.
The company recorded £4.2bn of customer inflows to its platforms, down slightly from the figure of £5.8bn recorded for the period last year.
Total assets under administration (AUA) hit a record £70.9bn at the end of September, up 11 per cent year-on-year driven by “the net inflows across the platform and favourable market movements of £2.6 billion”.
AJ Bell’s revenue for the year totalled £218.2m, up 33 per cent, while profit before tax jumped 50 per cent to £87.7m.
Off the back of these impressive figures, the group announced a 46 per cent final dividend increase taking the annual payout to 10.75p per share.
Michael Summersgill chief said: “I am pleased to report another year of strong financial performance for the business which has demonstrated our ability to continue to grow in different market conditions.”
He added: “Whilst the current challenging environment is likely to persist in the short term, I am confident that our long-term focus and continued investment in the business positions us well to take advantage of the structural growth opportunity for the platform market.”