AJ Bell is a financial services business that provides share dealing, ISA and pensions administration services. It has over 450 staff based in Manchester and Tunbridge Wells, over £17 billion in assets under administration and in excess of 70,000 retail clients.
AJ Bell, is a private company predominantly owned by Andy Bell and management (49%) and Neil Woodford’s Invesco Perpetual’s Income and High Income Funds (38%). AJ Bell has just announced a 39% increase in profits for the year ended on 30 September 2012 to £26.5 million.
AJ Bell operates three platform brands, namely: Sippcentre for distribution via financial advisers, Sippdeal for the execution-only market and the provision of management and administration services for institutional clients. Its non- platform business includes Platinum, a bespoke SIPP and SSAS service; an institutional stockbroking service; and a SIPP white label service for other financial services companies including Halifax Sharedealing, TD Waterhouse, Skandia and Barclays Stockbrokers.
AJ Bell’s only previous acquisition was of Lawshare, now called AJ Bell Securities, back in December 2007. With inward investment, this part of the business has grown organically from 23 staff to nearly 100, whilst remaining in its original location, Tunbridge Wells.
MSM is a specialist financial publishing business that produces a weekly magazine called Shares, organises annual awards and business events and has a number of online/digital services, the main ones being MoneyAM, StockMarketWire and Brokerforecasts. It has 34 staff based in London.
MSM will continue to be run by its existing senior management, led by Chief Executive David Motum. Charles Galbraith, Managing Director of AJ Bell Securities, will be appointed with immediate effect as non-executive Chairman of the MSM Management Board. MSM will be run as a separate business, with full editorial independence.
Charles Galbraith, says “Pentas, the project name for this transaction, is a small, beautiful flower that grows in any conditions. We are all looking forward to helping MSM flourish and grow in the future.”
David Motum, Chief Executive of MSM says “Content is becoming a key differentiator for investment platforms and our ability to generate specialist financial content will help to complement AJ Bell’s propositions in the platform space”