Jason Windsor

The growth was primarily driven by positive market movements, positioning the firm to meet its full-year adjusted operating profit targets in line with current market expectations. Chief executive officer Jason Windsor stated that the group is in “much better shape” than it was a year ago, citing progress across all three business lines.

The interactive investor division proved to be a standout performer, with AUMA jumping 26% to £97.5bn. Customer numbers swelled by 14% to reach the half-million mark, while daily trading volumes hit a record average of 29,200 in the final quarter. The platform secured net inflows of £1.4bn in Q4 alone, contributing to a full-year total of £7.3bn. To sustain this momentum, the firm has launched a managed Self-Invested Personal Pension (SIPP) and plans to implement simplified pricing structures in February 2026.

In contrast, the adviser segment faced headwinds in the final quarter, recording net outflows of £0.8bn. Management attributed this largely to increased client withdrawals amidst uncertainty ahead of the UK Budget. Despite this quarterly dip, the full-year picture showed resilience, with annual outflows improving by 44% to £2.2bn compared to the previous year. The division has focused heavily on service enhancements and repricing, with Mr Windsor pointing to the recent launch of the Aberdeen SIPP as a key factor in the strategy to return to growth in 2026.

The Investments arm saw assets rise to £390.4bn, buoyed by market gains, though it recorded Q4 net outflows of £3.0bn. This figure was heavily skewed by a previously disclosed £4.5bn withdrawal from a low-margin quantitative strategy. Excluding this specific exit, the division saw positive developments, including a £1.2bn inflow from the Stagecoach Group Pension Scheme and strong demand for commodity ETFs. Furthermore, the company announced an agreement to acquire £1.5bn of closed-end fund assets from MFS, solidifying its global position in that sector.

Looking ahead, the Group remains confident in its trajectory, setting a target for FY 2026 adjusted operating profit of at least £300m. Mr Windsor expressed optimism for the coming year, noting that the business has started 2026 with positive momentum and a more efficient capital requirement structure.