AJ Bell reported a record 50,000 new customers in the second quarter, lifting its total client base to 723,000, according to the company. Assets under administration (AUA) reached £108.7bn, a 20% increase year-on-year, though quarterly growth was limited to 1% due to wider market volatility, including the impact of the Iran war, according to the company. Investor sentiment improved towards the end of the quarter, buoyed by activity ahead of the 6 April tax year-end, the company said.
The UK government has launched an advertising campaign to encourage savers to move from cash ISAs to equities, according to major media reports. The campaign features a character named Savvy the Squirrel and will cost up to £10m a year, according to reports. The Investment Association, which is behind the campaign, said it chose a relatable character rather than an expert to avoid intimidating potential investors. The Investment Association also highlighted that £10,000 in a cash ISA a decade ago would now be worth £8,400 due to inflation, while the same amount in a global equity fund would be worth nearly £20,000.
Competition among investment platforms remains intense. Trading 212 is the most popular among new investors due to zero admin and share dealing fees, according to major media reports. Hargreaves Lansdown faced a backlash over controversial fee structure changes that pushed up costs for some clients, though the company said it had cut some fees for consumers. Interactive investor enjoyed a £3bn inflow of funds in the three months to March, partly crediting Hargreaves' fee changes.
Research from Boring Money found there are now 18.4 million investors in the UK. However, a significant gender gap persists: 11 million male investors compared with 7.4 million women, a gap of 3.6 million, up from 3.3 million in 2025.
Despite strong customer growth, AJ Bell's advised platform saw outflows of £1.6bn due to ongoing adviser consolidation, according to major media reports. The company noted that the UK platform market continues to offer significant structural growth opportunities.