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AJ Bell profits up 39% as assets hit £17.5bn

AJ Bell profits up 39% as assets hit £17.5bn

Platform and Sipp provider AJ Bell has posted a profit before tax of £26.5 million, an increase of 39%, for the year ending 30 September 2012.

Assets under administration at the firm were up 17% to £17.5 billion, with revenues also rising to £51.8 million, a 25% increase.

AJ Bell chief executive Andy Bell (pictured) said: ‘This has been another year of progress and challenge. We continue to face a barrage of regulatory led change and I am absolutely delighted with the way our staff have turned these challenges into opportunities to further enhance and develop our various product propositions.’

‘We are living proof that investment platforms with a low cost charging structure can be profitable as long as they have scale, efficient IT led processes and a service culture that focuses on what customers want.’

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