22nd Jan 2026 09:45
(Alliance News) - AJ Bell PLC on Thursday said the retail investment platform market presents significant long-term growth opportunities as it reported an increase in assets under management and customer numbers.
Manchester, England-based AJ Bell said customer numbers were up 20% on-year and up 5% on-quarter, standing at 673,000 as at December 31, when its financial first quarter ended. Total advised customers were 185,000, up 6% on year and up 2% on quarter.
Assets under management were GBP109.6 billion on December 31, up 15% from GBP95.3 billion a year before. AJ Bell suffered GBP1.9 billion in net outflows during the quarter but booked GBP3.3 billion in positive market movements.
Chief Executive Officer Michael Summersgill said that record gross inflows were offset by temporarily elevated outflows which were mostly driven by uncertainty ahead of the UK budget, which was in late November.
"Customers nearing retirement responded to speculation around potential pension tax changes, resulting in a GBP500 million increase in pension withdrawals compared with Q1 FY25," he explained.
CEO Summersgill said: "Persistent uncertainty in the lead‑up to the last two budgets has become an unwelcome feature of the market, prompting higher levels of assets moving out of pensions and risk‑based investments. This is directly at odds with the government's stated ambition to boost retail investing. We hope to see a more considered approach to the next fiscal event and urge government to provide a clear commitment to pension tax stability going forward."
Looking ahead, the AJ Bell CEO said: "We have started the year with strong momentum. The platform market presents significant long-term growth opportunities, and our dual-channel model, supported by continued business investment, ensures we are well-placed to deliver on this opportunity."
AJ Bell shares were up 3.7% to 464.60 pence each on Thursday morning in London.
By Tom Budszus, Alliance News slot editor
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