AJ Bell sees £4.2bn net platform inflows against 'challenging' backdrop

Platform reported record AUM of £70.9bn

Jenna Brown
clock • 2 min read

AJ Bell platform net inflows for its financial year ended 30 September 2023 were £4.2bn, down from £5.8bn last year, according to its latest trading update.

The platform and investment business said it was against a "challenging market backdrop". Gross inflows in the year were £9.3bn compared to 2022's £10.1bn. However, it said it now had record assets under management of £70.9bn, up 11% in the year driven by the net inflows across the platform and favourable market movements of 4%. It said customer numbers increased by 50,880 to close at 476,532, up 12% in the year, as AJ Bell's dual-channel platform continued to deliver "strong organic growth in both advised and D2C customers". Total advised customers increased by 13,885 to close ...

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 Wrap/platforms

AJ Bell chief executive Michael Summersgill

AJ Bell pre-tax profit up 50% to £87.7m as platform numbers soar

Added more than 50,000 platform customers

Jenna Brown
clock 07 December 2023 • 3 min read
Three things that make platforms stand out to advisers

Three things that make platforms stand out to advisers

Continuous innovation in platforms is essential

Jonathan Sandell
clock 05 December 2023 • 4 min read
Seccl and Moneyinfo develop new client onboarding integration

Seccl and Moneyinfo develop new client onboarding integration

To provide advisers with ‘market-leading level’ onboarding efficiency

Isabel Baxter
clock 24 November 2023 • 2 min read