AJ Bell plc (LON:AJB), one of the UK’s largest investment platforms, has issued a trading update in respect of its financial year ended 30 September 2026.
Performance overview
Platform business
| Customer numbers increased by 152,000 to close at 796,000, up 24% in the year, as AJ Bell’s dual-channel platform continued its momentum to drive record growth in customers |
| Total advised customers increased by 12,000 to close at 194,000, up 7% in the yearTotal D2C customers increased by 140,000 to close at 602,000, up 30% in the year |
| Record platform assets under administration (“AUA”) of £126.0 billion, up 22% in the year |
| Record gross and net inflows across the platform, a substantial increase compared to prior year |
| Gross inflows in the year of £21.5 billion, up 36% versus the prior year (FY25: £15.8 billion)Net inflows in the year of £9.7 billion, up 37% versus the prior year (FY25: £7.1 billion) |
| Favourable market movements of £13.0 billion, equating to 13% of opening AUA (FY25: £9.3 billion) |
Investment business
| Assets under management (“AUM”) reached a record £12.1 billion, up 36% in the year (FY25: £8.9 billion) |
| AJ Bell’s investment solutions continued to attract strong flows in both the advised and D2C markets, with record net inflows in the year of £1.9 billion (FY25: £1.3 billion) |
Non-platform business
| The wind down of AJ Bell’s remaining third-party SIPP arrangement will complete in Q1 FY27, with most of the customers and AUA currently recognised within the non-platform business expected to transfer to the AJ Bell D2C platform |
Michael Summersgill, Chief Executive Officer at AJ Bell, commented:
“I am delighted to report an excellent year in which we achieved record customer growth, record gross and net inflows and record assets under administration. Customer growth of more than 150,000 during the year reflects the strong appeal of our low-cost, trusted platform and market-leading customer service.
“Our D2C platform delivered excellent performance, surpassing 600,000 customers and generating record net inflows of £7.8 billion, driven by the strength of our proposition and brand. Our Advised platform delivered robust growth with record gross inflows of £8.7 billion, reflecting continued momentum from our enhanced distribution approach. We finished the year strongly, with quarterly platform net inflows of £2.5 billion, up 47% on the prior year, and net new platform customers of 34,000, up 42%.
“Platform growth was further supported by our Investments business, which delivered record net inflows of £1.9 billion, up 46% on the prior year, as our low-cost investment solutions continue to see strong demand from both advised and D2C customers.
“At the start of the year, we outlined our intention to accelerate growth through increased investment in brand, marketing and platform propositions. Record growth during the year provides clear evidence of the success of that approach, as we continued to attract high-quality customers who are long-term investors with significant potential to grow their assets over time. Our highly scalable business model enables us to benefit from underlying operational gearing and reinvest the benefits of scale, driving growth and long-term value. As we enter the new financial year, we are continuing to invest in the business to further strengthen our position in the fast-growing platform market.
“Our long-term growth opportunity remains significant, with the structural drivers supporting the platform market firmly in place. We look forward to announcing our annual results in December for what has been another successful year.”
Notice of annual results
AJ Bell expects to announce its full-year results for the year ended 30 September 2026 on 3 December 2026.
| Year ended 30 September 2026 | Advised Platform | D2C Platform | Total Platform | Non-platform | Total | ||||||||
| Opening customers (k) | 182 | 462 | 644 | 13 | 657 | ||||||||
| Closing customers (k) | 194 | 602 | 796 | 7 | 803 | ||||||||
| AUA and AUM (£billion) | |||||||||||||
| Opening AUA | 62.4 | 40.9 | 103.3 | 4.9 | 108.2 | ||||||||
| Inflows(1) | 8.7 | 12.8 | 21.5 | – | 21.5 | ||||||||
| Outflows(2) | (6.8) | (5.0) | (11.8) | (3.5)(7) | (15.3) | ||||||||
| Total net inflows/(outflows) | 1.9 | 7.8 | 9.7 | (3.5) | 6.2 | ||||||||
| Market and other movements(4) | 7.3 | 5.7 | 13.0 | 0.2 | 13.2 | ||||||||
| Closing AUA | 71.6 | 54.4 | 126.0 | 1.6 | 127.6 | ||||||||
| Closing AUM | 5.5 | 4.1 | 9.6(5) | 2.5(6) | 12.1 | ||||||||
| Year ended 30 September 2025 | Advised Platform | D2C Platform | Total Platform | Non-platform | Total | ||||||||
| Opening customers (k) | 171 | 371 | 542 | 15 | 557 | ||||||||
| Closing customers (k) | 182 | 462 | 644 | 13 | 657 | ||||||||
| AUA and AUM (£billion) | |||||||||||||
| Opening AUA | 56.1 | 30.4 | 86.5 | 5.7 | 92.2 | ||||||||
| Underlying inflows(1) | 7.0 | 8.8 | 15.8 | 0.2 | 16.0 | ||||||||
| Outflows(2) | (5.3) | (3.4) | (8.7) | (1.1) | (9.8) | ||||||||
| Underlying net inflows | 1.7 | 5.4 | 7.1 | (0.9) | 6.2 | ||||||||
| Migration(3) | – | 0.4 | 0.4 | (0.4) | – | ||||||||
| Total net inflows/(outflows) | 1.7 | 5.8 | 7.5 | (1.3) | 6.2 | ||||||||
| Market and other movements(4) | 4.6 | 4.7 | 9.3 | 0.5 | 9.8 | ||||||||
| Closing AUA | 62.4 | 40.9 | 103.3 | 4.9 | 108.2 | ||||||||
| Closing AUM | 4.4 | 2.6 | 7.0(5) | 1.9(6) | 8.9 | ||||||||
(1) Transfers-in, subscriptions, contributions and tax relief
(2) Transfers-out, cash withdrawals, benefits and tax payments
(3) Migration related to the wind down of a White-label SIPP administration agreement
(4) Total investment returns and revaluations, net of charges and taxes
(5) Platform AUA which is held in AJ Bell’s Funds or Managed Portfolio Service
(6) Assets which are held in AJ Bell’s Funds or Managed Portfolio Service via third-party platforms
(7) Includes £3.3 billion of AUA transferred to InvestAcc Group Limited as part of the sale of our Platinum SIPP and SSAS business on 3 November 2025
