IA launches 8 new fund sectors

Wealth manager and platform firm AJ Bell is to relaunch its recently acquired mobile phone fintech Adalpha as an app-based platform called ‘Touch by AJ Bell'. AJ Bell says Touch will offer a “simplified platform proposition” for financial advisers to be delivered to clients via a mobile and tablet app. AJ Bell says its hopes the new service will enable advisers to reach a wider audience, says AJ Bell. Pricing has not been released yet but will be detailed nearer to the launch. The firm says Touch will enable advisers to offer an “entirely digital service model” for suitable clients. Touch by AJ Bell will run alongside and complement AJ Bell Investcentre, the firm’s existing platform for financial advisers. Clients will be able to be held on both platforms. The launch of Touch by AJ Bell will be phased, starting with an ISA and GIA offering a fund-based investment range. A pension will be added later along with additional investment options. AJ Bell aims to soft launch the initial services to a small group of advisers by the end of 2021. Adalpha was acquired by AJ Bell earlier this year. Touch by AJ Bell will only be available via UK authorised financial advisers and clients will not be able to open an account without a financial adviser. It will not incorporate any robo-advice functionality, nor is there any intention to add any direct-to-client advice or guidance to the service, AJ Bell says. Andy Bell, chief executive of AJ Bell, said: “Adviser businesses are constantly evolving as the needs of their clients’ needs change. Touch by AJ Bell is being designed so clients can access the whole advice process via smartphones or tablets, offering a user experience that doesn’t yet exist in the advised platform market. “Sitting alongside AJ Bell Investcentre, it will enable advisers to attract a broader range of clients and future proof their business as an increasing number of people expect to manage their investments via mobile devices in a paperless environment.” • AJ Bell also reported interim results today for the six months ended 31 March. The firm said revenue was up 21% to £73.9m and pre-tax profits rose 39% to £31.6m.

IA launches 8 new fund sectors

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