AJ Bell (AJB) Q3 2025 TU earnings summary

Executive summary

• Achieved record-breaking quarterly net inflows of £2.5 billion and over 25,000 new customers, driven by strong brand investment and dual-channel platform strategy.

• Customer numbers reached 620,000, up 17% year-over-year and 5% sequentially; AUA closed at £96.1 billion, up 15% year-over-year and 6% in the quarter.

• AJ Bell Investments' AUM surpassed £8 billion, with net inflows of £0.4 billion in the quarter.

• Launched AJ Bell Touch, a simplified advised platform, to broaden adviser market reach.

Financial highlights

• Underlying gross inflows for the quarter were £4.0 billion, up from £3.7 billion year-over-year; net inflows were £2.1 billion, up from £1.7 billion.

• D2C platform benefited from migration of 2,000 customers and £0.4 billion AUA from non-platform book.

• Favourable market movements contributed 4% of opening AUA in the quarter.

• Trustpilot rating increased to 4.9 stars, reflecting strong customer service.

Outlook and guidance

• Entering the final quarter with strong momentum, underpinned by dual-channel strategy and continued investment.

• Confident in full-year performance and well-positioned to capture further share in the growing UK platform market.

• Regulatory progress on Targeted Support and ISA simplification expected to benefit retail investing.