Platform provider AJ Bell has appointed former Hargreaves Lansdown director Fiona Clutterbuck as its new chair to replace outgoing chair Baroness Helena Morrissey.

Net inflows fell 25% year-on-year to £1.2bn for AJ Bell’s platform business for the first quarter of 2023.

IntegraFin, owner of adviser platform Transact, has reported advised client numbers climbed to a record 228,000 in the three month to the end of March.

Platform and investment analyst Fundscape predicts that 2023 will be another tough year for platforms after a dismal 2022.