Member Article

Record growth fuels Salford Quays expansion for AJ Bell

Investment and pension firm AJ Bell is expanding to a new state of the art head office in Salford Quays, Manchester, following a period of record growth.

During the first six months of its financial year, 1 Oct 2016 – 31 March 2017, the business saw revenue increase by 24% to £37m and profit before tax increase by 27% to £11.2m.

The end of the tax year on 5 April is traditionally a busy period for financial services companies and this year passed all previous records with AJ Bell recording over £1bn in new business inflows during the final month of the tax year.

The company now looks after £36.3bn of investments for 155,000 customers in the UK through a combination of online pensions, Individual Savings Accounts (ISAs), and dealing accounts.

The move to the new 93,000 square foot head office at 4 Exchange Quay (EQ4) in Salford Quays gives the firm the ideal opportunity to build on its 650 strong workforce say company chiefs.

Andy Bell, co-founder and chief executive at AJ Bell, said: “The first half of the year has been very strong for us which is primarily a result of the hard work and dedication of our people.

“We have grown significantly the number of customers we help manage their investments and this has resulted in a strong increase in our revenue and profit.

“This enables us to invest further in the ongoing growth of our business and the move to the new HQ at Exchange Quay is part of that.”

Bell added: “We expect the move to help facilitate further growth both in terms of new business and local employment opportunities for people in Manchester.”

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