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AJ Bell PLC
29 November 2021
AJ Bell to make investing a Dodl with the launch of an easy to
use, commission-free mobile app
-- New, app-only investment platform called Dodl by AJ Bell to feature:
o Annual charge of 0.15%
o Buy/sell investments with no commission
o Full range of tax wrappers
o Range of UK equities and funds available, with overseas shares
to follow
o Designed for anyone looking for a low-cost, easy-to-use
investment app
AJ Bell is to launch a new, app-only investment platform which
aims to make investing more straightforward and accessible for
retail investors. The new service will be called Dodl by AJ Bell
and will compete with the lowest cost investment platforms in the
market, with an annual charge of 0.15% and no commission for
buying/selling investments.
What will Dodl by AJ Bell offer?
Dodl will be an easy to use, jargon free investment app to help
people invest for their long-term goals. It will offer an
Individual Savings Account (ISA), Lifetime ISA, Pension and General
Investment Account. Customers will be able to set up regular
investments and consolidate existing ISAs and Pensions onto the
platform.
People will be able to pay money in to accounts via Apple and
Google pay, as well as debit card payments and direct debits.
Investing needn't be scary, with Dodl's friendly monster characters
on hand to guide people through the application process, as well as
providing information to help people make their investment
decisions.
Dodl will give investors access to a simplified investment range
with options to cater for the vast majority of investment risk
appetites.
For those that like to invest in the brands they love, Dodl will
feature a range of popular shares in UK listed companies, with US
companies being added soon after launch. In addition, there will
also be a range of 'themed investments' which include funds
focusing on core areas such as technology, robotics, healthcare and
responsible investing.
The fund range will also consist of the AJ Bell's low-cost
multi-asset funds, which cater for six different risk levels along
with AJ Bell's Responsible Growth fund, for people who want to
invest with a responsible focus.
The Dodl by AJ Bell mobile app will be a new platform for
investors that sits alongside AJ Bell's existing consumer platform
AJ Bell Youinvest.
What is Dodl's target market?
Dodl is for anyone looking for a low-cost, easy to use
investment app. 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.
How much will Dodl cost?
There will be a single, all-in annual charge of just 0.15% of
portfolio value for each investment account (ie a pension) a Dodl
customer has, with a GBP1 per month minimum per account. There will
be no commissions for buying or selling investments and no tax
wrapper charges. As an example, for GBP10,000 invested in an ISA
the Dodl charge would be GBP15 a year.
Customers investing in funds will also pay the annual charge of
the underlying fund as normal.
When will Dodl be available?
AJ Bell is aiming to launch Dodl during the first half of 2022.
People can register their interest now at dodl.co.uk to be kept up
to date with progress. Everyone who signs up to the waitlist will
be entered into a prize draw for a chance of winning five lots of
GBP1,000 and can gain an additional chance to win one of the five
prizes for each friend they refer to the waitlist. T&Cs
apply.
Andy Bell, chief executive of AJ Bell, comments:
"Investing doesn't need to be scary. 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.
"With a low annual charge of 0.15%, no trading commissions and
all the main tax efficient products, Dodl will be amongst the
cheapest and best value investment platforms in the market. Our
friendly monsters will guide people through the investment process
with no jargon and introduce them to an investment range that is
easy to choose from and caters for the investment needs of the
majority of people"
Dodl can be found on social media now at:
-- Facebook: @DodlApp-
-- Instagram: @dodlapp-
-- TikTok: @dodlapp
-- Twitter: @DodlApp
-- YouTube: Dodl App
Contacts:
Shaun Yates
Investor Relations Director
07522 235 898
Shaun.yates@ajbell.co.uk
Charlie Musson
Head of PR
07834 499 554
charlie.musson@ajbell.co.uk
Jenny Owen
Senior PR Executive
07706 295 618
jenny.owen@ajbell.co.uk
About AJ Bell:
Established in 1995, AJ Bell is one of the largest investment
platforms in the UK with assets under administration of GBP72.8
billion and 382,000 customers (as at 30.09.2021).
We operate in both the advised and direct-to-consumer segments
of the platform market and our flagship platform propositions are
AJ Bell Investcentre (adviser) and AJ Bell Youinvest
(direct-to-consumer).
We offer SIPPs, ISAs and General Investment / Dealing Accounts
which provide access to a broad investment range including shares
and other instruments traded on the major stock exchanges around
the world, as well as all mainstream collective investments
available in the UK and our own range of AJ Bell funds. We also
offer a Cash savings hub which provides access to a range of
competitive savings accounts to help people manage their cash
savings.
We aim to make it easy for our customers to save and invest by
providing them with online tools and information to help them build
and manage their portfolios.
AJ Bell is headquartered in Manchester, UK.
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END
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