AJ Bell Plc (LON:AJB), one of the UK’s largest investment platforms, today issues a trading update in respect of the three months ended 30 June 2026.
Performance overview
Platform business
| · | Business investment has continued to drive excellent growth in customers and record net inflows |
| · | Strong growth in customer numbers, increasing by 39,000 in the quarter to close at 762,000, up 23% in the last year and 5% in the quarter |
| o Total advised customers of 191,000, up 6% in the last year and 1% in the quartero Total D2C customers of 571,000, up 30% in the last year and 7% in the quarter | |
| · | Assets under administration (“AUA”) of £121.5 billion, up 26% over the last year and 12% in the quarter |
| · | Record underlying gross and net inflows on the platform |
| o Gross inflows in the quarter of £6.0 billion, up 50% versus prior year (2025: £4.0 billion)o Net inflows in the quarter of £3.0 billion, up 43% versus prior year (2025: £2.1 billion) | |
| · | Favourable market movements of 9% of opening AUA in the quarter |
Investment business
| · | Assets under management (“AUM”) increased to £11.4 billion, up 41% over the last year and 16% in the quarter |
| · | Record net inflows in the quarter of £0.8 billion (2025: £0.4 billion) |
Michael Summersgill, Chief Executive Officer at AJ Bell, commented:
“I am delighted to report a quarter of record growth, with our dual-channel platform surpassing £120 billion of assets under administration, supported by record net inflows of £3.0 billion, and our investment business delivering its strongest ever quarter with net inflows of £0.8 billion. Our performance highlights the attractiveness of our low-cost, easy-to-use propositions and the excellent returns we are delivering on our continued brand and marketing investment.
“Our D2C platform maintained its strong growth momentum during the quarter, delivering record net inflows and attracting 37,000 new customers. On the Advised platform, recent enhancements to our distribution approach continue to gain traction, helping to drive another record quarter of gross inflows.
“Our low-cost investment solutions continue to receive strong demand from both D2C customers and advisers, with our funds and MPS propositions managed by AJ Bell Investments attracting record net inflows. During the quarter, we announced a reduction in the charge for our core MPS range from 0.15% to 0.12% per annum, effective from 1 October 2026. This change reflects our commitment to proactively share the benefits of scale with our customers, ensuring we remain competitively priced for growth.
“We have entered the final quarter with strong momentum. The UK platform market continues to benefit from structural growth drivers as more individuals take responsibility for their long-term financial futures. Our continued investment in brand and propositions, combined with the strength of our dual-channel strategy, positions us well to continue increasing our share of this fast-growing market.”
| Three months ended30 June 2026 | Advised Platform | D2C Platform | Total Platform | Non-platform | Total |
| Opening customers (k) | 189 | 534 | 723 | 7 | 730 |
| Closing customers (k) | 191 | 571 | 762 | 7 | 769 |
| AUA and AUM (£billion) | |||||
| Opening AUA | 64.2 | 44.5 | 108.7 | 1.5 | 110.2 |
| Inflows(1) | 2.3 | 3.7 | 6.0 | – | 6.0 |
| Outflows(2) | (1.7) | (1.3) | (3.0) | – | (3.0) |
| Net inflows | 0.6 | 2.4 | 3.0 | – | 3.0 |
| Market and other movements(3) | 5.3 | 4.5 | 9.8 | 0.1 | 9.9 |
| Closing AUA | 70.1 | 51.4 | 121.5 | 1.6 | 123.1 |
| Closing AUM | 5.3 | 3.8 | 9.1(4) | 2.3(5) | 11.4 |
| Three months ended30 June 2025 | Advised Platform | D2C Platform | Total Platform | Non-platform | Total |
| Opening customers (k) | 177 | 416 | 593 | 15 | 608 |
| Closing customers (k) | 180 | 440 | 620 | 13 | 633 |
| AUA and AUM (£billion) | |||||
| Opening AUA | 57.1 | 33.3 | 90.4 | 5.8 | 96.2 |
| Underlying inflows(1) | 1.7 | 2.3 | 4.0 | 0.1 | 4.1 |
| Underlying outflows(2) | (1.1) | (0.8) | (1.9) | (0.2) | (2.1) |
| Underlying net inflows/(outflows) | 0.6 | 1.5 | 2.1 | (0.1) | 2.0 |
| Migration(6) | – | 0.4 | 0.4 | (0.4) | – |
| Total net inflows | 0.6 | 1.9 | 2.5 | (0.5) | 2.0 |
| Market and other movements(3) | 1.3 | 1.9 | 3.2 | 0.1 | 3.3 |
| Closing AUA | 59.0 | 37.1 | 96.1 | 5.4 | 101.5 |
| Closing AUM | 4.1 | 2.3 | 6.4(4) | 1.7(5) | 8.1 |
(1) Transfers-in, subscriptions, contributions and tax relief
(2) Transfers-out, cash withdrawals, benefits and tax payments
(3) Total investment returns and revaluations, net of charges and taxes
(4) Platform AUA which is held in AJ Bell’s Funds or Managed Portfolio Service
(5) Assets which are held in AJ Bell’s Funds or Managed Portfolio Service via third-party platforms
(6) Migration relates to the wind down of a White-label SIPP administration agreement
