AJ Bell Signs Up 152,000 Customers as Trading Brokers Push Into UK Investing
By Damian Chmiel
AI summary of the source article
AJ Bell added 152,000 platform customers in the year to September 30, bringing its total to 796,000. Platform net inflows grew 37% to £9.7 billion, driving assets under administration up 22% to a record £126.0 billion.
Why it matters
Chief Executive Officer Michael Summersgill said AJ Bell would keep investing "to further strengthen our position in the fast-growing platform market."
Key facts
- AJ Bell grew total platform customers to 796,000, with direct-to-consumer customers rising 30% to 602,000.
- Platform net inflows climbed 37% to £9.7 billion, and assets under administration reached a record £126.0 billion.
- CFD brokers including IG Group, XTB, and CMC Markets are expanding into the UK ISA and investing market.
Source excerpt · Finance Magnates
AJ Bell added 152,000 platform customers in the year to September 30, taking its total to 796,000, the company said today (Thursday). Most of the growth came from people managing their own money, as direct-to-consumer (D2C) customers rose 30% to 602,000. Platform net inflows rose 37% to £9.7 billion (about $12.9 billion), and assets under administration reached a record £126.0 billion, up 22%. The…