24th Jul 2025 10:49
(Alliance News) - AJ Bell PLC on Thursday hailed its "strongest ever" quarterly net inflows, with market volatility contributing to more sizeable dealing activity.
AJ Bell shares rose 3.2% to 534.00 pence each in London on Thursday morning.
The Manchester-based retail investment platform provider said investment in its brand and offering drove "excellent growth in customers and net inflows".
Assets under administration at its core Platform business at the June 30 third quarter end amounted to GBP96.1 billion, rising 15% on-year and 6% on-quarter. Including a small contribution from non-platform, it amounted to GBP101.5 million, rising from GBP96.2 million a quarter prior.
Boosting assets under management were GBP4.0 billion worth of underlying gross inflows, which picked up from GBP3.7 billion a year prior. Underlying net inflows totalled GBP2.1 billion, rising from GBP1.7 billion a year earlier.
Factoring in a GBP400 million boost from 'migration', total net inflows were GBP2.5 billion. AJ Bell had earlier this year migrated Halifax, Bank of Scotland, and IWeb SIPP customers to its own platform following the end of a "self-invested personal pension administration agreement".
Chief Executive Officer Michael Summersgill said: "I am pleased to report a quarter of record-breaking growth for the business, with our dual-channel platform delivering our strongest ever quarterly net inflows of GBP2.5 billion and attracting over 25,000 new customers. These results underscore the strength of our low-cost, easy-to-use propositions across both the Advised and D2C platform markets and the benefits of our continued business investments. AJ Bell Investments also delivered another strong quarter, with net inflows pushing assets under management beyond GBP8 billion - highlighting the appeal of our simple, low-cost investment solutions.
"The quarter began with significant volatility across global equity markets, during which we saw elevated levels of dealing activity, as many customers took the opportunity to invest. Markets have since rebounded positively from late April through June, and dealing activity has normalised towards the long-term average levels seen earlier in the year."
The CEO said AJ Bell is entering the final quarter "with strong momentum".
In its Platform business, customer numbers rose by 27,000 to end at 620,000 in the third quarter. Customer numbers were 17% on-year and up 5% on-quarter.
By Eric Cunha, Alliance News news editor
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