Share page with AddThis


AJ Bell to launch commission-free investment app

Online investingCompetition in the UK’s online investment market is set to intensify further after online stockbroker AJ Bell announced plans to launch a commission-free investment app targetting retail investors.

The service, called Dodl, is designed to make investing more cost-effective and accessible for a retail audience and is scheduled to be operational in the first half of 2022. In addition to the waiving of commission fees, the service will have an annual charge of 0.15%.

The products available on the app will include a range of themed investment funds as well as AJ Bell’s multi-asset funds and a selection of UK stocks.

Traditional asset managers are also looking to break into the retail investment app market which has enjoyed a boost in numbers thanks to the lockdown and a rise in online trading. The popularity of low-cost platforms like Robinhood that also waive commission fees has forced several brokers to similarly lower their fees.

It has also made the UK a crowded marketplace in terms of investment platforms. In addition to the likes of Hargreaves Lansdown, there are also fintech players like Revolut, Freetrade, eToro and Nutmeg as well as the various mainstream asset managers looking to develop their digital offerings.

The recently rebranded abrdn is reportedly in discussions to buy Interactive Investor, the UK’s second biggest retail investment platform, for more than £1.5 billion.

This would add to the acquisition of investment platform Finimize in November. Back in August abrdn also announced plans to launch a wealth management app.

©2021 fundsTech

Most read features

Roundtable: The digital transformation opportunity

The funds industry is looking at adopting new types of technology, from automation to ESG reporting, blockchain and tokenisation. A FundsTech roundtable in March explored how these will revolutionise the sector.

Tokenisation: The incredible potential of tokenisation

Tokenisation offers a new generation of investors access to a wide range of asset classes. But a lack of analysts is one reason why the market may not be ready for the possibilities, finds Nicholas Pratt.

Regulation: Panel calls for simplicity in ESG reporting

The industry accepts the need for more rigour in ESG fund reporting, but the work will be pointless if investors don’t understand the end result. Nicholas Pratt reports.

Cryptocurrencies: Crypto funds face long wait for regulatory approval

While crypto currencies forge onwards, access for investors who prefer to invest through regulated vehicles remains muted. A wait-and-see stance by regulators lies at the centre of this, finds Nicholas Pratt.

Managing the impact of ESG reporting

A rise in ESG reporting requirements is impacting asset managers in every conceivable way. The solution, discovers Nicholas Pratt, is to use all of this newly found data to form a closer relationship with the next generation of investors.

Sponsored Profiles

The importance of trust when building successful client-vendor teams

Petra Roche and Anna Kanior-FlorekFundTech speaks to Metrosoft’s Petra Roche and Anna Kanior-Florek about cross-organisational relationships and why mutual trust...

The digitally connected Global Transfer Agent

Anand Ramachandran, Vice President, Global Head of Solutions, Richard Clarkson, Head of Solutions, Funds and Swapnil Joshi, Senior Strategy Manager from Oracle Financial Services Global...

Data consolidation takes centre stage in asset management M&A

MergersConsolidation between asset management firms is overwhelmingly expected to increase. Operational challenges remain thanks to legacy systems. But in a recent...

Are you being microserved?

As asset managers grapple with new digital technology, FundsTech talks to Calastone’s Adam Belding about the importance of software architecture and the benefits...