AJ Bell is to reduce the charge on its core model portfolio service (MPS) range from 0.15% to 0.12% per year from 1 October.
The lower pricing will be applied to existing and new MPS clients.
AJ Bell’s Money Market MPS will continue to have no annual management charge, while the Gilt MPS range will continue to be charged at 0.10% per year.
Ryan Hughes, managing director at AJ Bell Investments, said the decision to reduce charges illustrated its commitment to offering advisers low cost investment solutions.
He said: “We believe advisers using our MPS should feel good when investing for their clients. That’s why we’re reducing our charges by a fifth from October, with advisers benefiting from the same excellent service and award-winning in-house investments team behind each portfolio, but at an even better price.”
The quarter saw a record growth in customer numbers, increasing by 50,000 in the quarter across both b2c and consumer to close at 723,000. This represents a rise of 22% in the last year.
Assets under administration also rose 1% over the quarter, and 20% year-on-year, to £108.7bn as at 31 March. AJ Bell noted that market movements reduced asset growth by 2% during the quarter, reflecting ongoing market volatility.
Both gross and net inflows onto the platform also hit records during the quarter. Gross inflows in the quarter of £5.6bn rose 40% year-on-year (Q1 2025: £4bn). Net inflows rose 42% year-on-year to £2.7bn (Q1 2025: £1.9bn).
The platform provider’s investments business saw slightly more muted growth with assets under management increasing by 3% in the quarter to £9.8bn. Net inflows fell slightly to £0.3bn (Q1 2025: £0.4bn).