News

AJ Bell rides investor wave as new clients get into shares



The investment platform and Hargreaves Lansdown rival saw nearly 87,500 new customers arrive in the year to September, taking the total to 382,750.

Revenue rose 15% to £146 million, with profit up 13% at £55 million.

That’s a very high profit margin which could come under attack from low commission trading apps.

The broker has just launched its own app Dodl which will be available next year to target younger investors.

CEO Andy Bell said: ““We continue to see significant long-term opportunities in the investment platform market. The pandemic has highlighted the need for people to take more control over their financial future, with increasing numbers of people investing for the first time.”

There is a dividend of 4.5p and a special divi of 5p.

Bell and family get around a fifth of that payout.



Source link

businesscable.co.uk

Leave a Reply