March is a happy month for brokers as DIY investors rush to make the most of their Isa allowances before the end of the tax year on April 5. For AJ Bell, this rush helped to set a new monthly record of £1.4 billion of gross inflows within the space of only four weeks.
The Manchester-based investment broker, which offers a range of financial products from Isas to self-invested personal pensions, said on Thursday that its customer numbers had increased by 19,000 in the three months to the end of March, taking the total to 503,000 and marking an 11 per cent increase compared with the same period last year.
Meanwhile, assets under administration rose by 17 per cent year-on-year to a record £80.3 billion,
