DB transfer business continues to fall for AJ Bell

Growth driven by platform business

Hannah Godfrey
clock • 1 min read

AJ Bell has once again seen defined benefit (DB) pension transfer inflows onto its advised platform decline, the latest trading update from the company revealed this morning.

In the three months ending 31 March 2019, DB pension inflows to the business stood at £200m, compared to £500m for the same period one year ago. Last month the firm said DB transfer activity had "passed the peak point" after the market dropped some 20% in six months.  Despite the decline in DB business, total AJ Bell customer numbers increased 5% in the three months to 214,853, while total assets under administration (AUA) increased 8% to £47.7bn. The firm's growth during the period was primarily driven by the platform business, with platform customer numbers increasing by 10,424 -...

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