AJ Bell has delivered a record set of results for the year ended 30 September 2025, with revenue rising 18% to £317.8 million and profit before tax climbing 22% to £137.8 million.
Higher customer numbers and stronger financial markets drove revenue growth. The investment platform operator saw its customer base grow by 102,000 to reach 644,000, representing 19% year-on-year growth.
Assets under administration surged to a record £103.3 billion, up from £86.5 billion the previous year, driven by net inflows of £7.5 billion and favourable market movements of £9.3 billion.
Profit before tax rose to £137m from £113m last year.
The company has proposed a final dividend of 9.75 pence per share, taking the total ordinary dividend to 14.25 pence, marking the 21st consecutive year of dividend increases.
“Our highly-cash generative business model and strong capital position allow us to invest whilst also delivering excellent value for customers and increasing shareholder returns,” said Michael Summersgill, Chief Executive Officer at AJ Bell.
“We are pleased to recommend an increase to our ordinary dividend for the 21st successive year, alongside a new share buyback programme, returning up to £50 million to shareholders throughout FY26.”
The AJ Bell continued his commentary by lambasting the Labour government for its investment policies introduced at last week’s Budget.
“There was little to cheer in last week’s UK Budget. We have consistently advocated for ISA simplification, our views being backed by behavioural research showing how removing complexity can help to increase retail investment activity in the UK,” Summersgill said.
“However, the reforms proposed take the ISA market in the opposite direction. ISAs will now see complexities such as an age-specific annual allowance for Cash ISAs and HMRC levying a charge on cash held in Stocks & Shares ISAs. Despite these interventions in the market, we are confident we can continue to provide an easy-to-use service and help customers to navigate this additional complexity successfully.”