StockMarketWire.com - AJ Bell reported a rise in first-quarter assets under administration, driven by its platform business amid an increase in customers.

For three months ended 31 December 2019, total assets under administration rose 5% to £54.7bn as customer numbers increased 4% to 241,152.

Platform customer numbers rose by 9,033 to 227,202, up 4% in the quarter and platform AUA increased by 5% to £47.2bn.

'December saw the unlocking of the parliamentary deadlock, which boosted markets towards the end of the period,' the company said.

'Combined with positive net inflows onto the platform, this helped our platform assets under administration increase to a new high of £47.2bn, up 27% compared to a year ago.'

DISCLAIMER: AJ Bell, referenced in this article, is the owner of Stock Market Wire.

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