AJ Bell reported Q2 results to March 31, 2026, adding 50,000 net new customers to reach 723,000. Net inflows hit £2.7 billion, AUA rose to £108.7 billion, and D2C became the main growth driver.
AJ Bell Reports Record Second-Quarter Customers and Net Inflows
UK investment platform AJ Bell released its trading update for the second quarter of fiscal 2026 on April 23, 2026. During the three months ended March 31, 2026, the company added 50,000 net new customers, bringing total platform customers to 723,000, up 22% year over year and 7% quarter over quarter.
Source: AJ Bell, date: April 23, 2026. The company disclosed that total platform inflows in the second quarter were £5.6 billion, up 40% year over year; platform net inflows were £2.7 billion, up 42% year over year. Platform assets under administration reached £108.7 billion, up 20% year over year, though continued market volatility reduced quarterly AUA growth by 2 percentage points.
AJ Bell said its direct-to-consumer business contributed the main customer growth. The business reached 534,000 customers, up 28% year over year and 9% quarter over quarter, delivering the company’s strongest quarterly performance to date.
D2C Business Becomes Main Source of Customer Growth
AJ Bell’s customer growth mainly came from itsD2Cplatform. This channel serves individual investors, who can open accounts, select investment products, and allocate funds directly through the platform. The company said low cost, ease of use, and brand trust drove new customer additions and account transfers.
Total platform customers reached 723,000, up 22% year over year.
D2C customers reached 534,000, up 28% year over year.
The company added 50,000 net new customers in the second quarter, setting a quarterly record.
Platform net inflows reached £2.7 billion, up 42% year over year.
Total platform inflows reached £5.6 billion, up 40% year over year.
Source: MoneyAge, date: April 23, 2026. The outlet reported that AJ Bell’s second quarter covered the three months ended March 31, 2026, during which the company’s customer base increased by 50,000 and platform assets under administration reached £108.7 billion, up 20% year over year.
Platform Assets Grew 20% Year Over Year
AJ Bell’s platform assets under administrationAUAreached £108.7 billion in the second quarter, up 20% year over year. The company said that although customer net inflows were strong, market volatility affected asset values at quarter-end, weighing on quarterly AUA growth.
The investments business also recorded growth. AJ Bell Investments’ assets under managementAUMreached £9.8 billion, up 31% year over year. The business is the group’s in-house investment solutions division, and asset growth helps increase the diversity of platform revenue sources.
| Metric | Data as of March 31, 2026 | Year-over-Year Change | News Highlight |
|---|---|---|---|
| Total platform customers | 723,000 | Up 22% | Added 50,000 net new customers in the quarter |
| D2C customers | 534,000 | Up 28% | Delivered the company’s strongest quarterly performance |
| Platform net inflows | £2.7 billion | Up 42% | Net inflows set a quarterly record |
| Platform assets under administration | £108.7 billion | Up 20% | Market volatility weakened quarterly asset growth |
Inflows Show Investment Demand Ahead of the Tax Year-End
AJ Bell Chief Executive Officer Michael Summersgill said the second-quarter performance reflected the early benefits of the company’s previously announced increased investment in its brand and propositions. He also noted that customers’ focus on low cost, ease of use, and trusted brands drove new customer growth and account transfers from other platforms.
“These results reflect the early benefits of our previously announced increased investment in our brand and propositions.”
Source: MoneyAge, date: April 23, 2026. Michael Summersgill also said that recent market volatility affected asset values at the end of the quarter, but customer appetite to invest remained strong ahead of the UK tax year-end.
“Whilst recent market volatility impacted asset values at the end of the quarter, customer appetite to invest remained strong in the run up to the tax year-end.”
Account Transfers and Brand Investment Drove Growth
AJ Bell’s second-quarter data indicates that the UK investment platform market remains in a stage of structural growth. The company’s new customers, account transfers, and net inflows all increased, showing that individual investors continued to use investment platforms to allocate funds ahead of the tax year-end.
The company increased investment in brand and products, improving platform reach and user conversion.
Customer growth in the D2C business outpaced overall platform customer growth, becoming the main source of growth in the second quarter.
Low cost and ease of use drove new customer account openings and attracted account transfers from other platforms.
Growth in platform net inflows kept assets under administration rising year over year.
Market volatility weakened quarterly asset growth, but did not change the full-year year-over-year growth trend.
The quarterly data also shows that AJ Bell’s growth did not rely only on rising market prices. The company achieved growth in customer numbers, total inflows, and net inflows, indicating that customer behavior and asset transfers directly supported the expansion of platform scale.
Investment Business Assets Rose 31% Year Over Year
AJ Bell Investments’ assets under management reached £9.8 billion, up 31% year over year. The growth of this business shows that the company’s in-house investment solutions continue to increase their share within the platform ecosystem. For an investment platform, proprietary investment solutions can create links with account services, fund selection, and customer asset allocation.
Against the backdrop of intensifying competition in the UK platform market, AJ Bell’s business priorities include expanding its customer base, improving asset retention, strengthening product coverage, and enhancing revenue stability through its investment business. The second-quarter data shows that the company achieved phased results in both customer acquisition and asset growth.
Elizabeth Chambers to Join the Board
AJ Bell separately announced that Elizabeth Chambers will become an independent non-executive director from May 1, 2026. She previously held senior roles at McKinsey, Barclays, Western Union, and Bank of America.
Source: AJ Bell, date: April 23, 2026. The company said Elizabeth Chambers will take over as chair of the remuneration committee, succeeding Margaret Hassall, who has served on the board for five years.
Elizabeth Chambers’ appointment will take effect on May 1, 2026.
She will serve as an independent non-executive director of AJ Bell.
She will take over as chair of the remuneration committee.
Margaret Hassall will step down from the relevant committee chair role after five years on the board.
Board Changes Occur Alongside Business Expansion
The board appointment came after AJ Bell released strong quarterly data. As platform customer scale expands, inflows increase, and the investment business grows, corporate governance, remuneration policies, and long-term incentive arrangements will also become areas of capital market attention.
Elizabeth Chambers’ previous experience spans consulting, banking, payments, and management at global financial institutions. After joining the board, she will participate at the remuneration committee level in executive pay, incentive mechanisms, and governance arrangements. This arrangement aligns with AJ Bell’s strategic backdrop of expanding business scale and continuing to invest in long-term growth.
Questions Related to AJ Bell’s Second-Quarter Results
How many customers did AJ Bell add in the second quarter?
AJ Bell added 50,000 net new customers during the three months ended March 31, 2026, bringing total platform customers to 723,000, up 22% year over year.
What were AJ Bell’s second-quarter net inflows?
AJ Bell’s second-quarter platform net inflows were £2.7 billion, up 42% year over year; total platform inflows were £5.6 billion, up 40% year over year.
How many D2C customers did AJ Bell have?
AJ Bell’s D2C customers reached 534,000, up 28% year over year and 9% quarter over quarter, delivering the company’s strongest quarterly performance to date.
When will Elizabeth Chambers join AJ Bell’s board?
Elizabeth Chambers will become an independent non-executive director of AJ Bell from May 1, 2026, and will take over as chair of the remuneration committee.
