Profits up at AJ Bell
MANCHESTER pensions group AJ Bell has announced a 48% jump in pre-tax profits.
The group, which is the UK’s largest privately-owned provider of self-invested personal pensions (SIPPs), announced profits of £9.7m in the year to September. Sales rose 51% to £24.5m.
Revenues were helped by the acquisition of Kent-based institutional stockbroking business Lawshare.
During the period AJ Bell increased staff numbers by 30% to 287 and expanded its offices in Old Trafford.
The company now administers SIPPS for more than 32,000 clients, up 21%. The pension assets under its administration rose £522m to £5.54bn. Stockbroking assets rose £18m to £2.72bn.
