AJ Bell sees assets jump above £15bn
Strong new business growth and a sharp rise in Sipps under administration sees AJ Bell break through 55,000 clients.
AJ Bell announced today (21 April) that during the six months to 31 March 2011 total assets under administration have increased by 20 per cent from £12.6bn to £15.1bn on the back of strong Sipps sales.
The firm has also seen the total number of self invested personal pensions (Sipps) administered increased by 24 per cent from 44,600 to 55,500.
Andy Bell, chief executive of A J Bell claimed that Sipp numbers have been boosted by the growing understanding by advisers and clients that Sipps can be used as a mainstream financial planning solution.
He said: "Despite some adverse external influences, the Sipp market remains buoyant and the shift from traditional pension structures to low-cost Sipps shows no signs of abating.
"With the launch of Isas and personal dealing accounts, 2011 will open up a range of exciting opportunities that will allow us to widen the scope and appeal of the products and services we provide."