AJ Bell platform AUM up 7% to £68.8bn as inflows rise by £2bn

Customer numbers up by 7% in the first half to 455,008

Sahar Nazir
clock • 1 min read

AJ Bell’s platform assets under management (AUM) increased 7% to £68.8bn in the six months to 31 March 2023, according to its interim results released today (25 May).

Its platform business reported a period of growth with customer numbers rising 7% during the six months to 455,008. The platform's AUM growth was driven by inflows of £2bn and favourable market movements of £2.5bn over the period, the results said. It added that customer retention rate remained strong over the six months at 95.5% - the same level posted in its half year results in 2022. AJ Bell Investments increased its AUM by 39% over the period to £3.9bn, and posted record net inflows of around £900m, more than double the last year's £400m figure. Group profits before tax were...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Majority of IFAs 'concerned' about artificial intelligence

Majority of IFAs 'concerned' about artificial intelligence

Three in five believe regulations on use of AI tools should be made stricter

Sahar Nazir
clock 08 December 2023 • 2 min read
Model portfolio services outperform adviser platform market

Model portfolio services outperform adviser platform market

NextWealth says 41% of advisers expect to increase MPS use next year

Sahar Nazir
clock 08 December 2023 • 1 min read
PA Working Lunches: Register today to hear from Schroders

PA Working Lunches: Register today to hear from Schroders

Join us for an informative session worth one hour of CPD

Professional Adviser
clock 08 December 2023 • 1 min read