The variety of suggested prospects at funding platform AJ Bell have risen 16% over the previous yr.
The platform now has 141,856 suggested prospects, based on its newest buying and selling replace.
The variety of suggested prospects rose 3% within the three months ended 30 June 2022.
Whole buyer numbers elevated 18% over the previous yr to 417,503.
Internet inflows for the quarter had been in keeping with the earlier quarter at £1.6bn, however weaker investor sentiment led to a year-on-year decline (£2021: £2.1bn).
Gross inflows for the quarter additionally fell year-on-year to £2.6bn (2021: £3.2bn).
Belongings below administration fell by 5% over the quarter to £63.5bn, primarily because of antagonistic market actions.
Throughout the quarter the FTSE All-Share Index fell by 6% and the MSCI World Index (GBP) fell by 9%.
Billy Mackay, managing director of adviser platform AJ Bell Investcentre, mentioned: “A pattern we’re seeing extra of within the suggested market is companies giving consideration to the segmentation of their consumer base, with some shaping their providing to satisfy the various wants of sure teams. This significantly applies to pensions the place the simplicity of our Retirement Funding Account has seen demand develop amongst purchasers with extra simple wants.
“We’re additionally seeing sturdy demand for multi-asset funding choices on the again of some companies contemplating outsourcing their funding processes and selections. That is most sometimes by way of our vary of Managed Portfolio Service choices or our panel of third occasion MPS companions.”
Andy Bell, CEO at AJ Bell, mentioned: “The suggested market has remained resilient within the face of present market headwinds and the power of our proposition helped to ship internet inflows of £0.9 billion.
“We’ve not too long ago diminished a number of costs on our suggested platform, AJ Bell Investcentre, utilising our scale to additional enhance the worth that advisers can provide to their purchasers.
“The phased launch of Contact by AJ Bell beginning later in 2022 will additional increase our providing for advisers, serving to them to cater for purchasers on the lookout for a digital service mannequin.”
Belongings below administration for fund administration arm AJ Bell Investments closed at £2.5bn, a 25% rise year-on-year and 9% rise for the quarter. Internet inflows had been £271m, in keeping with the earlier yr.