AJ Bell has extended its technology partnership with GBST for another decade in a move the two firms say sets out “a clear roadmap for the continued evolution of AJ Bell’s advised and direct to consumer (D2C) platform.”
Under the agreement, GBST’s Composer wealth administration platform will continue to support AJ Bell’s advised and D2C channels.
AJ Bell has seen strong growth in recent years. Last week it revealed the number of advised customers rose 7% year-on-year to 189,000 in the first quarter of the year.
The quarter saw a record growth in customer numbers, increasing by 50,000 in the quarter across both b2c and consumer to close at 723,000. a rise of 22% in the last year. Total d2c customers rose 28% year-on-year to 534,000.
Assets under administration also rose 1% over the quarter, and 20% year-on-year, to £108.7bn as at 31 March.
GBST’s Composer platform underpins key operational capabilities across AJ Bell’s advised and D2C channels.Michael Summersgill, CEO of AJ Bell, said: “GBST has been a key technology partner for many years, supporting the development of both our advised and D2C propositions. This long-term partnership reflects the strength of our relationship and our confidence in GBST’s ability to help us scale and innovate, enabling our business to continue to grow.”
Rob DeDominicis, CEO of GBST, said: “Investment platforms play a central role in the UK wealth market and the technology that underpins them must adapt as adviser and investor expectations change.
“Our continued investment in the Composer platform, cloud-based delivery, and emerging AI‑enabled capabilities allows firms like AJ Bell to benefit from modern, scalable technology that enables long-term growth, operational resilience, and improved decision-making while maintaining the reliability advisers and investors expect.”
AJ Bell will announce its full interim results for the six months ended 31 March on 31 May.