Boom time at investing platform AJ Bell, as the coronavirus pandemic inspires a 29% rise in customers
Customer numbers at AJ Bell have soared
Customer numbers at AJ Bell have soared as those with savings and time to spare during lockdown became stock market investors for the first time.
The investing platform recorded a 29 per cent increase in customers to 295,305 in the year to the end of September, as revenue jumped 21 per cent to £127 million.
Profits were up 29 per cent to £49 million, which allowed for a 28 per cent increase in the final dividend to 6.15p.
Chief executive Andy Bell said the rise in customers came as the pandemic kept people locked at home and prevented many from spending on holidays, in the pub or on the High Street.
He said: ‘Some people were on a full salary and not going out. More and more decided to trade for the first time.’