Investment platform AJ Bell has a boost in customers by a fifth
Investment platform AJ Bell increased its number of customers by a fifth last year with an income of more than £1.5bn over the last three months.
The company had an increase in the amount of assets under its guise to almost £75bn, which is an increase of nearly 15 per cent on the previous year, while its chief executive heralded a new investing app for DIY-ers.
Despite the increase in assets in the last year, the figure was down two per cent in the last quarter.
“Our first five multi-asset funds recently passed their fifth anniversary, an important performance milestone particularly for advisers”, said Andy Bell, Chief Executive at AJ Bell. “Performance of all five funds was in the top 30 per cent when compared against their peer groups, with four being in the top quintile.
“Since launching these funds in 2017 we have shared the benefits of our increasing scale with customers, reducing the Ongoing Charges Figure from 50bps to 31bps during that time.
AJ Bell also announced the launch of a new investing app called Dodl “which expands our offering to DIY investors.
“It offers all the main tax wrappers and a simplified investment range to help people select funds and shares for their portfolio. “