AJ Bell’s platform saw the number of advised customers reach 161,000 in the last quarter, up 8% on an annual basis.
Total customer numbers on the platform rose 12% in the year and 2% in the quarter to reach 484,000.
The firm’s total assets under administration jumped 7% in the quarter to hit a record £76.2bn, up 15% over the year.
Gross inflows in the quarter were £2.7bn, while net inflows in the were £1.3bn.
See also: Brokers Panmure Gordon and Liberum announce all-share merger
AJ Bell’s Investments division recorded an 11% jump in assets under management in the quarter to £5.2bn. Net inflows in the quarter were £0.4bn, matching the same period a year ago.
Chief executive Michael Summersgill (pictured) commented: “Some of the macroeconomic headwinds experienced throughout 2023 showed signs of improving in the quarter, driving global equity markets higher and easing some of the pressure on household finances.
“As we look ahead, our platform will continue to appeal to both current and potential customers and advisers,” he continued. “We continue to invest in enhancing our propositions, with a strong focus on ease of use, whilst also investing in our pricing to ensure we continue to deliver great value to customers.
“While this strong start to the year provides good momentum as we head into the busy tax year end period, we remain focused on the long-term growth opportunity that exists in the platform market and the investments that we are making into our propositions and pricing will further strengthen our long-term competitive position.”
This article was originally written for our sister publication, International Adviser
