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

Added more than 50,000 platform customers

Jenna Brown
clock • 3 min read

Pre-tax profit at AJ Bell increased by 50% to £87.7m up from £58.4m last year, according to its full-year results to 30 September 2023.

The platform and investment business said revenue for the year was up 33% to £218.2m compared to £163.8m the previous year. The results said it had been "another successful year" for its platform with customer numbers increasing by more than 50,000 to 476,532 and platform net inflows of £4.2bn compared to £5.8bn in 2022. AJ Bell said it achieved record assets under administration (AUA) of £70.9bn compared to 2022's £64.1bn, "up 11% driven by the net inflows across the platform and favourable market movements of £2.6bn".  It added it gained record net inflows in the year of £1.65bn,...

To continue reading this article...

Join Professional Adviser for free

  • 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

Quilter reports platform net inflows of £1bn in first quarter

Quilter reports platform net inflows of £1bn in first quarter

Ongoing adviser charging review to start shortly after FCA talks

Jenna Brown
clock 24 April 2024 • 2 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read