AJ Bell has reported a 43% jump in third quarter net inflows to £3bn, versus the same period last year.
Assets under administration (AUA) climbed to £121.5bn as of the end of June, up 26% over the past year and 12% in the quarter.
‘Strong growth’ in customer numbers saw 39,000 added in the quarter to reach 762,000, up 23% in the last year and 5% in the quarter.
Within this, total advised customers rose 6% on an annual basis to 191,000, and 1% in the quarter. Gross inflows in the quarter were £6bn, up 50% versus last year’s £4bn.
‘Favourable market movements’ accounted for 9% of opening AUA in the quarter.
AJ Bell’s in-house investment business had a record quarter, with net inflows of £800m.
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Michael Summersgill, chief executive (pictured), said: “Our D2C platform maintained its strong growth momentum during the quarter, delivering record net inflows and attracting 37,000 new customers.
“On the advised platform, recent enhancements to our distribution approach continue to gain traction, helping to drive another record quarter of gross inflows.
“We have entered the final quarter with strong momentum,” he added. “The UK platform market continues to benefit from structural growth drivers as more individuals take responsibility for their long-term financial futures.
“Our continued investment in brand and propositions, combined with the strength of our dual-channel strategy, positions us well to continue increasing our share of this fast-growing market.”
