British investment platform AJ Bell has launched a new app-only investment platform, dubbed Dodl by AJ Bell, to make investing more accessible for retail investors.
The app will provide Individual Savings Account (ISA), Lifetime ISA, Pension, and General Investment Account to users.
Investors will be able to use Apple and Google pay to pay money into accounts, in addition to debit card payments and direct debits payments.
It will offer a range of popular shares in UK-listed companies for those who are looking to invest in the brands they love. The company plans to add US-based companies to this list in the future.
Furthermore, the app will feature ‘themed investments’ which comprises funds focusing on core areas including healthcare technology, responsible investing and robotics.
The fund range will also include AJ Bell’s low-cost multi-asset funds, which invest in six different risk levels along with the company’s Responsible Growth fund.
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AJ Bell CEO Andy Bell said: “Dodl by AJ Bell is for anyone looking for a low-cost, easy-to-use investment app to help them meet their investment goals such as saving for a house deposit, holidays or retirement.
“The intuitive investment journey and streamlined investment range will appeal particularly to those that are new to investing and want a simple way to manage their investments.”
Dodl, which will sit alongside the company’s existing consumer platform AJ Bell Youinvest, is set for a rollout in the first half of 2022.
The app will have an annual charge of 0.15% while no commission will be charged for buying and selling investments, according to the company.
In March this year, AJ Bell purchased mobile investment platform developer Adalpha in a bid to strengthen its offering for financial advisers.
Last year, the firm introduced a new service that added managed portfolio services (MPS) from rival discretionary fund managers to its platform.