AJ Bell has reported its highest ever quarterly net inflows in Q3, which totalled £2.5bn in the three months to 30 June.

The investment platform also saw its customer numbers increase by 27,000 in the quarter to close at 620,000, a total up 17% in the last year and 5% in the quarter.

AJ Bell also reported that its total assets under administration (AuA) closed Q3 at £96.1bn, a figure up 15% over the last year and 6% in the quarter.

Underlying gross and net inflows across the platform were also higher than the previous year, which AJ Bell suggested reflects a “continuation of the strong momentum” it reported in Q2.

CEO at AJ Bell, Michael Summersgill, said that Q3 had been a quarter of “record-breaking growth for the business”.

“The quarter began with significant volatility across global equity markets, during which we saw elevated levels of dealing activity, as many customers took the opportunity to invest,” Summersgill said.

“Markets have since rebounded positively from late April through June, and dealing activity has normalised towards the long-term average levels seen earlier in the year.

He added: “We enter the final quarter with strong momentum which underpins our confidence in the full year performance. Our dual-channel strategy, supported by continued investment in our brand and propositions, positions us well to capture further share in the fast-growing UK platform market.”

---