AJ Bell posts record assets and inflows despite pension outflows from Budget jitters

AJ BELL PLC ( (GB:AJB) ) just unveiled an update.

AJ Bell reported a strong start to its financial year, with platform customer numbers rising by 29,000 in the first quarter to 673,000 and assets under administration hitting a record £108.0bn, up 21% year on year. Both advised and direct-to-consumer channels delivered record quarterly gross inflows of £4.6bn and net inflows of £1.5bn, aided by favourable market movements and ongoing investment in brand and platform propositions, while assets under management in AJ Bell Investments climbed 32% over the year to £9.5bn. The group completed the sale of its Platinum SIPP and SSAS non-platform business, transferring £3.3bn of AUA, as it continues to refocus on core platform operations. Management flagged that record inflows were partly offset by elevated pension outflows of about £500m linked to pre-Budget tax uncertainty, which it criticised as undermining government ambitions to encourage retail investing, but stressed that AJ Bell’s dual-channel model and marketing push leave it well positioned to capture long-term growth in the UK platform market.

The most recent analyst rating on (GB:AJB) stock is a Hold with a £520.00 price target. To see the full list of analyst forecasts on AJ BELL PLC stock, see the GB:AJB Stock Forecast page.

Spark’s Take on GB:AJB Stock

According to Spark, TipRanks’ AI Analyst, GB:AJB is a Neutral.

AJ Bell PLC’s strong financial performance is the most significant factor, highlighting robust growth and profitability. However, technical analysis indicates bearish momentum, which negatively impacts the overall score. The valuation is fair but not compelling enough to offset the technical weaknesses.

To see Spark’s full report on GB:AJB stock, click here.

More about AJ BELL PLC

AJ Bell plc is one of the UK’s largest investment platforms, operating at scale in both the advised and direct-to-consumer markets. Founded in 1995 and headquartered in Manchester, it provides easy-access pensions, ISAs and general investment accounts with a focus on low-cost, simple investment solutions, including global shares and its own AJ Bell funds. Its propositions span full-service and app-based platforms for financial advisers as well as low-cost platforms and apps for retail investors, supported by custody and white-labelled investment management services.

Average Trading Volume: 967,459

Technical Sentiment Signal: Hold

Current Market Cap: £1.77B

For detailed information about AJB stock, go to TipRanks’ Stock Analysis page.