Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
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AJ Bell's Q1 managed assets rose 17%, driven by customer growth and pension contributions before the UK Budget. Assets under administration hit 95.3 billion pounds.
(Reuters) - British investment platform AJ Bell on Wednesday posted a 17% jump in its first-quarter managed assets, helped by a rise in customers and elevated pension contributions in the run-up to the October 2024 Budget.
Wealth managers in the UK had flagged shifts in client appetite ahead of the budget, amid concerns over changes to pension funds, an essential part of AJ Bell's services, and tax changes.
"Ahead of the October Budget, speculation around the tax treatment of pensions caused a short-term behavioural change among retail investors, which normalised quickly once the content of the Budget became known," CEO Michael Summersgill said in a statement.
Investors returned to wealth managers and online trading platforms by the year-end, resulting in increased customer onboarding and investments.
AJ Bell reported assets under administration of 95.3 billion pounds ($118.66 billion) for the quarter ended December 2024, up from the 81.6 billion pounds reported the previous year.
($1 = 0.8031 pounds)
(Reporting by Yamini Kalia and Simone Lobo in Bengaluru; Editing by Eileen Soreng)
AJ Bell reported a 17% increase in its first-quarter managed assets.
The increase was attributed to a rise in customers and elevated pension contributions.
AJ Bell reported assets under administration of 95.3 billion pounds for the quarter.
Speculation around the tax treatment of pensions caused a short-term behavioral change among retail investors.
The previous year's assets under administration were reported at 81.6 billion pounds.
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