AJ Bell, a UK-based provider of online investment platforms, has launched a low cost online guided investment service that will be available via AJ Bell Youinvest, a direct to consumer investment platform.
The company said that there is no additional charge for the new service – investors just have to pay the normal AJ Bell Youinvest platform and underlying tracker fund charges.
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The new guided investment service will enable investors to select a ready-made portfolio or build their own investment portfolio of low-cost tracker funds in just three clicks.
The company added that the service is particularly designed for investors who don’t want or can’t afford financial advice but are looking for better returns on their cash, while still managing risk and keeping costs low.
Commenting on the launch, AJ Bell chief executive Andy Bell said: "People need to save more but are often put off by how daunting it is. Our goal with this new online guidance service is to take our customers on a simple journey ending in a diversified portfolio of low-cost tracker funds that is matched to their appetite for risk.
"This may be a stepping stone to full advice or DIY investing in the future but I think online guidance could be the catalyst to get a new generation of people saving."
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