AJ Bell (AJB) Q2 2026 TU earnings summary

Executive summary

• Achieved record quarterly customer growth, adding 50,000 net new customers to reach 723,000, a 22% increase year-over-year and 7% sequentially.

• Platform assets under administration (AUA) rose to £108.7 billion, up 20% year-over-year and 1% in the quarter, despite market volatility.

• Direct-to-consumer (D2C) segment delivered its strongest quarter, with customer growth over 50% higher than the same quarter last year.

• Maintained high service standards during peak tax year-end activity, with average customer wait times of eight seconds.

Financial highlights

• Gross inflows on the platform reached £5.6 billion, up 40% year-over-year; net inflows were £2.7 billion, up 42% year-over-year.

• Investment business assets under management (AUM) increased to £9.8 billion, up 31% year-over-year and 3% sequentially.

• Market movements reduced AUA growth by 2% in the quarter, reflecting ongoing volatility.

Outlook and guidance

• Management remains confident in long-term, sustainable growth, citing a scalable business model and structural growth opportunities in the UK platform market.

• Interim results for the six months ended 31 March 2026 are expected to be announced on 21 May 2026.