AJ Bell founder Andy Bell is to step down from the investment platform’s board following discussions with the Financial Conduct Authority (FCA).

Investment platform and SIPP provider AJ Bell has appointed its deputy CEO Michael Summersgill to succeed founder Andy Bell as CEO from 1 October, subject to regulatory approval. 

Platform and SIPP provider AJ Bell has reported total customer numbers rose 21% over the past year and 5% in the past quarter to 418,309, according to its Q2 trading update.

Investment platform AJ Bell has reported a 15% rise in advised customers year on year, and 4% over the third quarter, in its latest trading update.