REG - AJ Bell PLC - Q2 Trading Update
Today 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260423:nRSW5583Ba&default-theme=true
RNS Number : 5583B AJ Bell PLC 23 April 2026
23 April 2026
AJ Bell plc
Q2 trading update
AJ Bell plc ("AJ Bell" or the "Company"), one of the UK's largest investment
platforms, today issues a trading update in respect of the three months ended
31 March 2026.
Performance overview
Platform business
· Record growth in customer numbers, increasing by 50,000 in the quarter to
close at 723,000, up 22% in the last year and 7% in the quarter
o Total advised customers of 189,000, up 7% in the last year and 2% in the
quarter
o Total D2C customers of 534,000, up 28% in the last year and 9% in the
quarter
· Assets under administration ("AUA") of £108.7 billion, up 20% over the last
year and 1% in the quarter
· Record gross and net inflows on the platform
o Gross inflows in the quarter of £5.6 billion, up 40% versus prior year
(2025: £4.0 billion)
o Net inflows in the quarter of £2.7 billion, up 42% versus prior year
(2025: £1.9 billion)
· Market movements reduced AUA growth by 2% in the quarter. AUA levels reflect
ongoing market volatility, with market levels improving post quarter end
Investment business
· Assets under management ("AUM") increased to £9.8 billion, up 31% over the
last year and 3% in the quarter
· Net inflows in the quarter of £0.3 billion (2025: £0.4 billion)
Michael Summersgill, Chief Executive Officer at AJ Bell, commented:
"I am delighted to report an excellent quarter of growth for our
dual‑channel platform, as we delivered a record 50,000 net new customers and
£2.7 billion of net inflows. This performance reflects the early benefits of
our previously announced increased investment in our brand and propositions.
"Our D2C platform delivered its strongest quarter to date, achieving record
customer growth - over 50% higher than the same quarter last year - alongside
record net inflows. This significant increase in new customers reflects the
value placed on our low‑cost propositions, ease of use and trusted brand.
These factors also contributed to heightened inbound account transfers from
other platforms within the market. Our Advised platform delivered
record‑equalling gross inflows, with strong growth partially offset by
anticipated outflows associated with ongoing adviser consolidation.
"We operate a digital‑first platform, while recognising that at key moments
in the investment journey customers and advisers may want to speak to us
directly. The tax year‑end is the busiest time of the year for customer
activity and throughout this period we maintained excellent service standards,
with customers and advisers waiting an average of just eight seconds to reach
our customer services team. This focus on service quality is reflected in our
market‑leading 4.9‑star Trustpilot rating and our Which? Recommended
Provider status for an eighth consecutive year.
"We have a proven track record of growing across different market conditions.
Whilst recent market volatility impacted asset values at the end of the
quarter, customer appetite to invest remained strong in the run‑up to the
tax year-end. The UK platform market continues to offer significant structural
growth opportunities, and our diversified revenue model and highly scalable
business model position us well to continue to invest for long‑term,
sustainable growth."
Notice of interim results
AJ Bell expects to announce its interim results for the six months ended 31
March 2026 on Thursday 21 May 2026.
Three months ended Advised Platform D2C Platform Total Platform Non-platform
31 March 2026 Total
Opening customers (k) 185 488 673 8 681
Closing customers (k) 189 534 723 7 730
AUA and AUM (£billion)
Opening AUA 64.6 43.4 108.0 1.6 109.6
Inflows((1)) 2.1 3.5 5.6 - 5.6
Outflows((2)) (1.6) (1.3) (2.9) - (2.9)
Net inflows 0.5 2.2 2.7 - 2.7
Market and other movements((3)) (0.9) (1.1) (2.0) (0.1) (2.1)
Closing AUA 64.2 44.5 108.7 1.5 110.2
Closing AUM 4.6 3.1 7.7((4)) 2.1((5)) 9.8
Three months ended Advised Platform D2C Platform Total Platform Non-platform
31 March 2025 Total
Opening customers (k) 174 387 561 15 576
Closing customers (k) 177 416 593 15 608
AUA and AUM (£billion)
Opening AUA 57.2 32.3 89.5 5.8 95.3
Inflows((1)) 1.8 2.2 4.0 - 4.0
Outflows((2)) (1.3) (0.8) (2.1) (0.1) (2.2)
Net inflows/(outflows) 0.5 1.4 1.9 (0.1) 1.8
Market and other movements((3)) (0.6) (0.4) (1.0) 0.1 (0.9)
Closing AUA 57.1 33.3 90.4 5.8 96.2
Closing AUM 3.8 2.0 5.8((4)) 1.7((5)) 7.5
( )
((1) Transfers-in, subscriptions, contributions and tax relief)
((2) Transfers-out, cash withdrawals, benefits and tax payments)
((3) Total investment returns and revaluations, net of charges and taxes)
((4) Platform AUA which is held in AJ Bell's Funds or Managed Portfolio
Service)
((5) Assets which are held in AJ Bell's Funds or Managed Portfolio Service via
third-party platforms)
( )
Contacts:
AJ Bell
· Mark Coxhead, Head of Investor Relations +44 (0) 7761 513 512
· Mike Glenister, Head of PR +44 (0) 7719 554 575
Historical customer numbers, AUA and AUM by quarter
Advised Platform Qtr to 31 Qtr to 30 Qtr to 30 Qtr to 31 Qtr to 31
March June September December March
2025 2025 2025 2025 2026
Customers (k) 177 180 182 185 189
AUA and AUM (£billion)
Opening AUA 57.2 57.1 59.0 62.4 64.6
Inflows((1)) 1.8 1.7 1.8 2.1 2.1
Outflows((2)) (1.3) (1.1) (1.5) (1.9) (1.6)
Net inflows 0.5 0.6 0.3 0.2 0.5
Market and other movements((3))
(0.6) 1.3 3.1 2.0 (0.9)
Closing AUA 57.1 59.0 62.4 64.6 64.2
Closing AUM((4)) 3.8 4.1 4.4 4.6 4.6
D2C Platform Qtr to 31 Qtr to 30 Qtr to 30 Qtr to 31 Qtr to 31
March June September December March
2025 2025 2025 2025 2026
Customers (k) 416 440 462 488 534
AUA and AUM (£billion)
Opening AUA 32.3 33.3 37.1 40.9 43.4
Underlying inflows((1)) 2.2 2.3 2.4 2.5 3.5
Outflows((2)) (0.8) (0.8) (1.0) (1.2) (1.3)
Underlying net inflows 1.4 1.5 1.4 1.3 2.2
( )
Migration((6)) - 0.4 - - -
Total net inflows 1.4 1.9 1.4 1.3 2.2
Market and other movements((3))
(0.4) 1.9 2.4 1.2 (1.1)
Closing AUA 33.3 37.1 40.9 43.4 44.5
Closing AUM((4)) 2.0 2.3 2.6 2.9 3.1
Non-platform Qtr to 31 Qtr to 30 Qtr to 30 Qtr to 31 Qtr to 31
March June September December March
2025 2025 2025 2025 2026
Customers (k) 15 13 13 8 7
AUA and AUM (£billion)
Opening AUA 5.8 5.8 5.4 4.9 1.6
Inflows((1)) - 0.1 - - -
Outflows((2)) (0.1) (0.2) (0.7) (3.4) -
Net outflows (0.1) (0.1) (0.7) (3.4) -
-
Migration((6)) - (0.4) - -
Total net outflows (0.1) (0.5) (0.7) (3.4) -
Market and other movements((3)) 0.1 0.2 0.1 (0.1)
0.1
Closing AUA 5.8 5.4 4.9 1.6 1.5
Closing AUM((5)) 1.7 1.7 1.9 2.0 2.1
Total closing AUA 96.2 101.5 108.2 109.6 110.2
Total closing AUM 7.5 8.1 8.9 9.5 9.8
((1) Transfers-in, subscriptions, contributions and tax relief)
((2) Transfers-out, cash withdrawals, benefits and tax payments)
((3) Total investment returns and revaluations, net of charges and taxes)
((4) Platform AUA which is held in AJ Bell's Funds or Managed Portfolio
Service)
((5) Assets which are held in AJ Bell's Funds or Managed Portfolio Service via
third-party platforms)
((6) Migration relates to the wind down of a White-label SIPP administration
agreement)
About AJ Bell:
Established in 1995, AJ Bell is one of the largest investment platforms in the
UK, operating at scale in both the advised and direct-to-consumer markets.
Our purpose is to help people invest by providing them with easy access to
Pensions, ISAs and General investment accounts, great customer service and
competitive charges.
Our platform propositions offer a wide range of simple, low-cost investment
solutions including shares and other instruments traded in the UK and other
major stock exchanges around the world, as well as our own range of AJ Bell
funds.
In the advised market, we offer AJ Bell Investcentre, our full-service
proposition, alongside AJ Bell Touch, a simplified app-based proposition
enabling a fully digital service model, and AJ Bell Custody Solutions, which
provides flexible, low-cost, white-labelled investment management.
In the D2C market we offer AJ Bell, our low-cost, full-service proposition and
AJ Bell Dodl, a low-cost investment app that offers a simplified investment
journey.
AJ Bell is headquartered in Manchester, UK, with offices in London and
Bristol.
Forward-looking statements
This announcement contains forward-looking statements that involve substantial
risks and uncertainties, and actual results and developments may differ
materially from those expressed or implied by these statements. These
forward-looking statements are statements regarding AJ Bell's intentions,
beliefs or current expectations concerning, among other things, its results of
operations, financial condition, prospects, growth, strategies, and the
industry in which it operates. By their nature, forward-looking statements
involve risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. These forward-looking
statements speak only as of the date of this announcement and AJ Bell does not
undertake any obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date
of this announcement.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END TSTPPUBGCUPQGMP
Copyright 2019 Regulatory News Service, all rights reservedRecent news on AJ Bell
See all newsREG - AJ Bell PLC - Directorate change
AnnouncementREG - AJ Bell PLC - Q2 Trading Update
AnnouncementREG - AJ Bell PLC - Transaction in Own Shares
AnnouncementREG - AJ Bell PLC - Director/PDMR Shareholding
AnnouncementREG - AJ Bell PLC - Director/PDMR Shareholding
Announcement