AJ Bell (AJB) Q4 2024 TU earnings summary

Performance overview

• Customer numbers rose by 66,000 to 542,000, a 14% increase, with both advised and D2C segments growing strongly.

• Platform assets under administration (AUA) reached a record £86.5 billion, up 22% year-on-year.

• Gross inflows were £13.1 billion, up 41%, and net inflows were £6.1 billion, up 45% from the previous year.

• Favourable market movements contributed £9.5 billion to AUA, representing 13% of opening AUA.

Investment solutions

• AJ Bell Investments saw net inflows of £1.5 billion, with assets under management (AUM) rising 45% to £6.8 billion.

• Both advised and D2C markets contributed to strong investment flows.

Strategic and market context

• The dual-channel platform strategy, serving both advised and D2C customers, supports growth and operational efficiency.

• Enhanced propositions, improved brand awareness, and lower customer costs have underpinned performance.

• Ongoing engagement with policymakers seeks pension tax stability and ISA simplification.