AJ Bell posts jump in profits

AJ Bell has enjoyed a record number of people on its platform, leading to a boost in profits.

In the year ending 30 September customers increased by 87,450. Assets at the group jumped from £56.5bn to £72.8bn.

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“We continue to see significant long-term opportunities in the investment platform market,” said chief executive Andy Bell.

“The pandemic has highlighted the need for people to take more control over their financial future, with increasing numbers of people investing for the first time,” he added.

Revenue jumped from £126.7m to £145.8m.

AJ Bell is seeing a new chief finance officer start at the group. Peter Birch said:  “I have followed the progress of AJ Bell for many years and have always been impressed by its strong culture and customer focus which has enabled it to grow into one of the UK’s leading investment platforms.”

Over the past six months, shares have fallen over 8%.

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