AJ Bell Money Market MPS surges in popularity as advisers seek cash alternatives

The Money Market MPS has become one of the most popular AJ Bell model portfolios on AJ Bell’s advised platform.

Popularity in the MPS, which is invested in cash, as well as cash alternatives including money market funds and ultra-short-dated bonds, has surged in popularity this year, with assets trebling over the past 12 months.

This comes amid concerns of a potential AI bubble and record high global stock markets, as advisers look to diversify client portfolios. There have also been rumours surrounding the fate of the Cash ISA ahead of the upcoming Budget, which has bolstered the appeal of near-cash instruments for advisers and their clients.

In an increasingly uncertain environment for financial planning, the importance of regulated advice and more flexible and tax efficient investment solutions has never been greater.

AJ Bell’s Money Market fund launched two years ago in November 2023. AJ Bell subsequently launched its Gilt MPS range in April 2025, delivering tax efficient solutions for advisers to invest in gilts across three different maturity dates to suit their clients’ needs.

Ryan Hughes, AJ Bell Investments managing director, says:

“It’s been almost two years since we launched our Money Market MPS and the response from advisers has been clear – clients increasingly need the flexibility to invest in lower risk assets that provide cash-like returns. The Money Market MPS has surged in popularity for exactly this reason, but it also demonstrates the appeal of having a wide range of low-cost investment solutions available on our advised platform to ensure advisers can always get the best outcomes for their clients in an ever-changing tax and regulatory environment.

“Countless rumours that the government is set to tinker with the Cash ISA allowance has pushed many to seek cash alternatives, and the Money Market MPS has proved a valuable tool for advisers looking for cash-like returns. Record high markets have also served to foster an appetite for lower risk investments such as money market funds and short duration bonds in order to diversify client portfolios, with the Money Market MPS offering this at an attractive zero AMC.”

Neil Stewart APFS, director and chartered financial planner at Structured Financial Planning, adds:

“We use AJ Bell’s Money Market MPS as part of our bucketing approach, setting aside a low risk allocation alongside a client’s growth portfolio. This helps to protect against market falls at the point of withdrawal and gives clients more peace of mind, particularly as they approach retirement.”