AJ Bell has announced a milestone year, with platform assets under administration (AUA) rising to £103.3 billion for the year ended 30 September 2025, representing a 19 % increase versus the prior year.
The UK investment platform added approximately 102,000 new customers, taking its total to 644,000 — also up 19 %. This growth was driven in particular by the direct-to-consumer (D2C) channel, where customer numbers rose to 462,000 (up 91,000 or 25 %), while the advised channel ended the year at 182,000 customers (up 11,000 or 6 %).
Chief Executive Michael Summersgill said:
“We reported another record-breaking year for the AJ Bell platform, surpassing the £100 billion AUA milestone and adding more than 100,000 new customers.
That 19 % increase in customers during the year takes us to 644,000 customers, evidencing the continued success of the business. Such excellent customer growth demonstrates the strength of platform products and the market-leading customer service we deliver.
Our AJ Bell Investments business also continues to gain popularity, with AUM climbing 31 % in the year to reach £8.9 billion.
Looking ahead, we continue to campaign for a government commitment to stability on the tax treatment of pensions, with speculation ahead of the November Budget again creating uncertainty for investors.”
The AJ Bell Investments business — which manages the company’s own range of funds and portfolios — posted a strong performance, with assets under management rising 31 % to £8.9 billion, up from £6.8 billion a year earlier. However, net inflows into the investment arm were slightly lower than the prior year, at £1.3 billion compared to £1.5 billion in FY24.
On the platform side, underlying gross inflows totalled £15.8 billion, up 21 % from £13.1 billion the previous year, while net inflows reached £7.1 billion, up 16 %. Favourable market movements contributed an additional £9.3 billion (around 11 % of opening AUA) to the overall platform balance.
AJ Bell also noted that its non-platform business, which includes legacy SIPP and SSAS services, saw AUA fall from £5.7 billion to £4.9 billion as part of a deliberate wind-down strategy. The sale of its Platinum SIPP and SSAS business is expected to complete in November 2025.
Summersgill highlighted the success of the group’s “highly scalable business model” and its dual-channel approach, combining D2C and advised customers. He added that continued investment in brand, technology, and pricing remains central to AJ Bell’s long-term strategy.
For investors, the milestone cements AJ Bell’s position among the UK’s leading retail investment platforms, alongside Hargreaves Lansdown and Interactive Investor, as it continues to grow both organically and through market performance.
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