AJ Bell reports decline in DB transfer inflows in Q1 update

Customers up 4%

Hannah Godfrey
clock • 1 min read

AJ Bell has reported a decline in defined benefit (DB) pension transfer inflows into its advised platform, saying it expected the trend to continue.

In its quarterly results published this morning (23 January), the pension provider and platform reported DB inflows of £300m in the three months ending 31 December, amounting to half of the inflows recorded during the same period a year earlier, where DB inflows stood at £600m. Chief executive Andy Bell (pictured) said the firm had expected a decline in DB transfer inflows since their peak in the 2017 financial year. He added that the firm expected the downward trend to continue. Platform customer numbers meanwhile increased by 4% during the period to 190,498 in total. Underlying plat...

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 Retirement

Advisers warn market volatility will threaten retirement plans

Advisers warn market volatility will threaten retirement plans

More than half expect clients to postpone or change plans

Isabel Baxter
clock 26 March 2024 • 2 min read
Perfect timing: How to advise clients on the right time to retire

Perfect timing: How to advise clients on the right time to retire

Striking a balance between health, wealth and personality

Richard Hulbert
clock 05 February 2024 • 4 min read
Baillie Gifford: Enjoying later life without an income from work

Baillie Gifford: Enjoying later life without an income from work

The latest from PA’ Digital Working Lunch webinar series

Professional Adviser
clock 12 December 2023 • 2 min read