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AJ Bell reports 25% boost to AUA

Bell-Andy-2017-CUTAJ Bell saw assets under administration increase by 25 per cent to £39.8bn in 2017 for the 12 months ending 30 September 2017.

In 2016 AUA was £31.8bn.

The business also reported a 29 per cent increase in profit before tax to £21.7m (2016: £16.8m).

AJ Bell says the increase in AUA was largely driven by net inflows of new business of £6.4bn onto its investment platforms, which was a 78 per cent increase from 2016.

Revenue increased by 17 per cent from £64.5m in 2016 to £75.6m in 2017.

AJ Bell chief executive Andy Bell says: “Huge parts of the platform market are bogged down in expensive replatforming projects which will continue to hamper them in 2018. We are well past that and our pace of organic growth means we have no need for acquisitions to increase our scale.”

Bell adds: “Our focus is on continued investment in our existing platform to benefit advisers and customers.  We aim for our platform to be the easiest to use and the best value in the market, underpinned by quality service and support.  Our new investment solutions have been well received by advisers and we will continue to build on that next year in line with feedback from advisers.”

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