Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

AJ Bell sees record revenue growth ahead of float

AJ Bell sees record revenue growth ahead of float

AJ Bell has seen record growth in revenues ahead of its planned float. 

The platform has today published its interim results for the six months to 31 March. 

Revenues have increased 16% from £37 million to £42 million while pre-tax profits are up 24% from £11 million to £14 million. 

These figures come on the back of increases to customers and assets.

The platform saw inflows of £3.5 billion, up from £3 billion over the same period last year. That helped bring total assets under administration to £42 billion, which was a 5% increase. AJ Bell said it had achieved this increase in asset values despite a fall in the FTSE All Share index.

It said customer numbers had risen 12% to 183,482 from 164,557 at 30 September 2017.

Earlier this year AJ Bell confirmed rompers of a market listing. 

Chief executive Andy Bell said today’s results were 'the most profitable interim results in our history'. 

'The UK retail investment and savings market continues to display strong growth and investment platforms are central to this, he said. 'Our brand heritage, platform technology and positioning across both advised and direct-to-consumer markets enables us to benefit from this long-term growth story.’

Commenting on the listing he said: 'I believe a listing is a natural step as we plan for the next growth phase in the business and to increase our profile in the market. A listing will enable more institutional investors to participate in AJ Bell’s future, and an element of the offering will be exclusively set aside for AJ Bell retail customers.

In notes accompanying today’s report, AJ Bell revealed it had worked with academics specialising in behavioural economics as part of a bid to change planned point of sale discolour rules.

It described the regime as 'complicated and a barrier to customers making informed decisions about their savings and investments.’

It said: 'In light of this, AJ Bell has been working with the Behavioural Economics team at Manchester Metropolitan University to analyse possible areas of change. The findings from this piece of analysis was presented to a group of policy advisers and Civil Servants at April’s Contemporary Issues in Economics and Policy Seminar Series at the Treasury offices in London. We await the results of this lobbying and the further guidance on effective consumer communication that is anticipated from the FCA.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Your Business: Cover Star Club

Profile: how career burnout led to a family office launch

Profile: how career burnout led to a family office launch

I was burnt-out from a career in finance and had no desire to come back, says the founder of Blu Family Office

Wealth Manager on Twitter