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...
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