AJ Bell to Launch Zero-Fee Investment App Dodl

​AJ Bell, the United Kingdom's second-largest listed investment platform, announced yesterday that it 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. AJ Bell is aiming to launch Dodl during the first half of 2022. 

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. Dodl will give investors access to a simplified investment range with options to cater for the vast majority of investment risk appetites.

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.

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 £1 per month minimum per account. There will be no commissions for buying or selling investments and no tax wrapper charges. As an example, for £10,000 invested in an ISA the Dodl charge would be £15 a year.

Customers investing in funds will also pay the annual charge of the underlying fund as normal.