AJ Bell increased its assets under administration (AUA) to a record £90.4bn in its second quarter, a figure up 13% on last year.

The investment platform, announcing its results for the three months to 31 March, also revealed that AUA were 1% up on the previous quarter.

AJ Bell said it had achieved “strong growth in customer numbers” in Q2, which increased by 32,000 in the three months to close at 593,000 – a level up 18% in the last year and 6% in the quarter.

The group also announced that gross and net inflows on its platform in the run up to the end of the tax-year were “significantly higher” than in the comparative quarter last year. Gross inflows in Q2 hit £4bn, up 18% on last year, while net inflows totalled £1.9bn, a figure 19% against the same period in 2024.

AJ Bell’s CEO, Michael Summersgill, commented: “The UK Government’s commitment in the Spring Statement to boost the culture of retail investing through both ISA reform and the ongoing work on targeted support was an encouraging step.

“We believe a powerful combination of straightforward reforms, centred on implementing Targeted Support and simplifying cash and stocks and shares ISAs into a single product, would significantly reduce the barriers between saving and long-term investing.”

Summersgill added that the investment platform had started the second half of its financial year in a “strong position”, despite global trade tariffs and broader macroeconomic uncertainty creating “significant market volatility”.

“This has led to increased D2C trading activity as customers use the flexibility of our platform to respond to changing market dynamics,” he added. “The long-term investment outlook among customers is illustrated by the fact more than three-quarters of these trades were buys with the net investment totalling more than £300m.

“Whilst recent volatility has impacted market levels, we have a proven track record of growing across different market conditions. There remains a significant structural growth opportunity in the UK platform market and our well-diversified revenue model enables us to continue to invest in our propositions and brand to drive long-term growth.”

AJ Bell said it would announce its interim results for the six-month period to 31 March on Friday 23 May.

---