AJ Bell (AJB) Q3 2026 TU earnings summary

Executive summary

• Achieved record growth in Q3 2026, with customer numbers rising by 39,000 to 762,000, a 23% increase year-over-year and 5% sequentially.

• Assets under administration (AUA) reached £121.5 billion, up 26% year-over-year and 12% in the quarter.

• Investment business assets under management (AUM) rose to £11.4 billion, a 41% increase year-over-year and 16% sequentially.

• Record net inflows: £3.0 billion for the platform (up 43% year-over-year) and £0.8 billion for investments (doubled from prior year).

Financial highlights

• Gross inflows for the platform were £6.0 billion, up 50% from £4.0 billion in Q3 2025.

• Net inflows for the platform reached £3.0 billion, up from £2.1 billion in Q3 2025.

• Favourable market movements contributed 9% of opening AUA in the quarter.

• D2C customer base grew 30% year-over-year to 571,000; advised customers increased 6% to 191,000.

Outlook and guidance

• Entered Q4 2026 with strong momentum, supported by continued investment in brand and propositions.

• UK platform market expected to benefit from structural growth drivers as more individuals manage long-term finances.

• Reduction in core MPS range charge from 0.15% to 0.12% per annum effective 1 October 2026, aiming to remain competitively priced.