Investment platform AJ Bell boosts customers ahead of float
Investment platform and stockbroker AJ Bell said today it had increased customer numbers by 20 per cent in the last financial year ahead of a planned main market listing.
In the year to 30 September customer numbers increased 20 per cent to 197,912 and assets under administration grew 16 per cent to £46.1bn.
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The company said it was still anticipating floating on the main market of the London Stock Exchange later this year or at the start of 2019.
Chief executive Andy Bell said: “Whilst markets have become more volatile since the period end, our business model and market position remain fundamentally strong. We are progressing well with our plans for a main market listing on the London Stock Exchange at the end of the year or beginning of 2019.”
Bell added: “The two key structural drivers of our business, assets under administration and customer numbers, grew strongly during our latest financial year. Our core platform business continued to drive our growth, with net inflows of £5.9bn in the period and growth of 25 per cent in assets under administration. Momentum is strong across both the advised and direct-to-consumer markets.”
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