AJ Bell results demonstrate the dial is shifting on wealth distribution
Hugh Fairclough, Partner and Head of Financial Services at RSM UK, comments on AJ Bell’s end of year trading update: “AJ Bell’s 37% growth on platform net inflows and an increase in customers of over 150,000 reinforces just how effective it has become at converting interest in investing into customers.
“AJ Bell has invested hard in customer acquisition this year, broadening its marketing and challenging the idea that investing is only for people with substantial wealth or financial knowledge. Alongside that, it has strengthened its proposition, expanding areas such as its Gilt Managed Portfolio Service (MPS) and using its growing scale to compete harder on price.
“But wealth distribution is moving into a different phase. Winning somebody who has decided to invest is one challenge, but persuading someone who has never considered investing to start is another.
“Banks and insurers increasingly have the customers, data and existing financial relationships to shape that conversation. For AJ Bell, the customer must still actively choose to come through the door. AJ Bell has shown it can win investors. The next opportunity in wealth is over who can create the investors.”