The platform said that its large rise in inflows resulted in a “robust increase in assets” despite heavy falls on the UK stock market.
Direct to consumer customers increased by 43%, leaving the Manchester-based platform with more direct than advised customers at the end of the year.
Total assets under administration rose 8% to £56.5bn.
Platform underlying net inflows increased to £4.1bn (FY19: £3.2bn). Of this £2.0bn were advised, a rise of 11% on the prior year.
Platform assets under advisement closed at £49.7bn, also a rise of 11%.
AJ Bell has recently added to its platform proposition including a new Retirement Investment Account streamlined pension product which the platform said has been popular with Financial Planners.
Andy Bell, CEO at AJ Bell, said: “We are pleased to report another year of strong growth in customers and assets under administration, delivered against a continuing backdrop of extreme market volatility and significant disruption to people’s lives caused by COVID-19.
Our focus on the needs of our customers and our easy-to-use platform has fuelled a 29% increase in platform customers, with particularly strong progress made in the direct-to-consumer market. Inflows also rose markedly, resulting in a robust increase in assets under administration despite heavy falls on the UK stock market.
“Our operational resilience has shone through since the coronavirus pandemic hit the UK and we were able to adapt quickly to ensure we continued to meet the needs of customers and advisers. Our staff continue to do a fantastic job during this very difficult time and the growth of the business that we are reporting today could not have been delivered without their resilience and outstanding work.
“We have experienced a number of economic cycles during our 25-year history and have a track record of increasing AUA year after year in all market conditions. Our platform propositions remain well positioned to continue delivering strong growth in both the advised and D2C markets.”