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Investing.com -- AJ Bell shares climbed 4.4% in London on Thursday after the company released a third-quarter trading update showing healthy net flows across its platforms.
The investment platform reported total platform net flows of £2.1 billion for the quarter, excluding £0.4 billion of migration from White Label SIPP. This represented an 11% increase quarter-over-quarter and exceeded market expectations by 12%.
AJ Bell’s closing platform assets under administration reached £96.1 billion, 3% higher than consensus estimates of £93.5 billion, helped by a 3.5% market movement during the quarter.
The company’s direct-to-consumer platform performed particularly well, with net flows of £1.5 billion, 25% above market expectations. This segment showed annualized organic growth of 18.0%, with gross inflows growing 5% quarter-over-quarter while outflows remained flat.
The advised platform segment recorded net flows of £0.6 billion, 20% above consensus and 20% higher than the previous quarter. Lower gross outflows more than offset slightly reduced gross inflows in this segment.
Customer numbers continued to grow, with 25,000 new customers bringing the total to 633,000. Direct-to-consumer customers reached 440,000, exceeding consensus estimates by 3%.
AJ Bell Investments’ assets under management closed at £8.1 billion, with assets on the adviser platform growing 21% year-over-year, demonstrating continued demand for the company’s Managed Portfolio Service product.
The company reaffirmed its outlook for the full fiscal year 2025, citing "strong momentum" as it enters the fourth quarter. The planned sale of its Platinum SIPP and SSAS business remains on track.
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