AJ Bell has posted a strong start to its financial year, with customer numbers rising by 29,000 in the quarter to 673,000, driven by growth in its direct-to-consumer offering.

The Manchester-based investment platform reported record assets under administration of £108 billion, up 21% year-on-year, supported by positive market movements and higher inflows.

Gross inflows hit a quarterly record of £4.6bn, while net inflows increased to £1.5bn, despite greater disruption linked to UK Budget uncertainty.

Meanwhile AJ Bell Investments grew assets under management to £9.5bn, up 32% over the year, following continued demand for its managed solutions.

Sahres in the company are up by over 5% to 472p so far today.