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

AJ Bell's platform AUA reaches £83.7bn as customer numbers rise

AJ Bell's platform AUA reaches £83.7bn as customer numbers rise

Number of platform customers and advised customers rise for AJ Bell

clock 18 July 2024 • 1 min read
Breaking the chain: Assessing and adding value as a distributor

Breaking the chain: Assessing and adding value as a distributor

Advisers support us in trying to improve customer outcomes

Mark Rendle
clock 17 July 2024 • 3 min read
Rosemount links with 7IM giving ARs access to investment platform

Rosemount links with 7IM giving ARs access to investment platform

Financial planning network in strategic partnership with 7IM

Jenna Brown
clock 15 July 2024 • 1 min read