AJ Bell reports record Q3 platform net inflows

(Sharecast News) - AJ Bell reported record third-quarter platform net inflows of £3.0bn on Thursday, up 43% year on year, as gross inflows increased 50% to £6.0bn. Platform assets under administration rose 26% over the year to £121.5bn, helped by favourable market movements, while customer numbers increased 23% to 762,000.

The FTSE 250 investment platform said direct-to-consumer customers grew 30% to 571,000, while advised customers increased 6% to 191,000.

Assets under management in its investment business rose 41% to £11.4bn, supported by record quarterly net inflows of £0.8bn, and the company said it entered the final quarter with strong momentum.

At 0918 BST, shares in AJ Bell were down 2.85% at 597.5p.

Reporting by Josh White for Sharecast.com.

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