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,...
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