AJ Bell pre-tax profits dip as dealing returns to normal

Retail customers reached 418,309

AJ Bell’s pre-tax profits decreased to £26.1m in the six-month period ended 31 March 2022, compared to £31.6m in HY21, according to its interim results.

The decrease in pre-tax profits was due to the lower revenue margin earned on assets coupled with increased investment in its brand, technology and propositions to support its long-term growth strategy, it said. It reported net inflows of £2.8bn and assets under administration (AUA) closing at £74.1bn, achieved against "a very different market backdrop to that seen in the prior year with adverse market movements of £1.5bn since the year-end". Revenue margin on AUA was lower than the comparative period as a result of the "normalisation of dealing activity and lower interest rates earne...