AJ Bell, the rapidly growing platform and Sipp provider, had declined to comment on reports it is planning to float on the stock market.
Sky News reported today that it understands AJ Bell, set up by founder 25 years ago, is talking to brokers about the possibility of floating.

The company joins a growing number of financial services businesses considering or pushing ahead with a float.

Rival platform Transact announced recently plans to float this year while adviser service provider SimplyBiz is believed to be also considering a float.

The news channel says AJ Bell, which oversees assets worth nearly £40bn, held a “beauty parade of investment bankers in the last few weeks” to prepare for an initial public offering (IPO).



A spokesman for AJ Bell said today that the reports were speculation and "the company does not comment on speculation."

According to Sky News it is unlikely that AJ Bell will go public until the final quarter of this year at the earliest. A float will likely mean a windfall for founder Andy Bell who owns 28% of the company, says Sky News.
It is believed the company will be valued at several hundred million pounds on the stock market.

Sky News reports that Woodford Investment Management, the firm headed by Neil Woodford, ‎holds an 8% stake, while Invesco Perpetual is the biggest shareholder with 37%. AJ Bell's senior managers own most of the remaining shares.
According to its latest results AJ Bel has about 165,000 retail customers and made pre-tax profit of £21.7m on revenues of £75.6m.

The Manchester-based company has been best known for its low cost investment approach and building a large Sipp business but has since broadened its offering to become a significant investment platform player. It serves both retail clients and adviser.