Thursday 21 October 2021 7:48 am
AJ Bell customer numbers leap as Covid measures ease
By: Emily Hawkins
Chief executive Andy Bell announced he would step down from his role earlier this year
Investment platform AJ Bell's customer numbers swelled 30 per cent in its previous financial year.
Results for the year ended September 30 showed total customer numbers increased to 382,754.
In the final quarter of the financial year, net new platform customers increased 16 per cent and platform net inflows increased by 78 per cent, compared to the equivalent quarter in 2020.
Total net inflows in the year was up 52 per cent to £6.4bn, compared to £4.2bn in 2020.
Total assets under administration (AUA) increased 29 per cent in the year to close at £72.8bn, up from £56.5bn.
Andy Bell, chief executive officer at AJ Bell, said: "Our award-winning platform propositions, serving both the advised and D2C markets, enable us to capitalise on strong customer demand for long-term investment products, whether that be advised or self-managed.
"Following the gradual easing of Covid restrictions over the course of the summer, we have seen retail trading activity return to more normal levels compared to the peaks seen earlier in the year. However, we are pleased that our key drivers of long-term growth, namely customer numbers and net inflows, have continued strongly."
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