AJ Bell hits record assets under administration as customer numbers surge

AJ Bell has reported record assets under administration after attracting a wave of new customers across its divisions. The London-listed investment platform said its assets under administration (AUA) rose 22 per cent year-on-year to £126bn in an end of year trading update. The group’s assets under management (AUM) also reached a record £12.1bn, up from £8.9bn. Net inflows increased 37 per cent from £7.1bn to £9.7bn, while gross inflows jumped to £21.5bn. Customer growth The group credited the growth to its influx of new customers using the site. Total customer numbers rose 24 per cent to 796,000. Both business segments reported an uptick, as total advised customers increased by 12,000 over the course of the year to reach 194,000. The jump in customer numbers saw the investment platform s channel achieve record gross inflows of £8.7bn. Meanwhile, total direct to consumer (D2C) clients increased 30 per cent to 602,000 from 140,000. It generated inflows of £7.8bn.