AJ Bell has announced that it is to rebrand the recently acquired Adalpha platform to ‘Touch by AJ Bell’.
According to the company in its announcement today, Touch by AJ Bell will be a simplified platform proposition for financial advisers delivered to clients via a mobile and tablet app. It will enable advisers to offer an entirely digital service model for clients who are suited to that form of relationship and advice process, expanding the range of client profiles they can advise and future proofing their business model.
Touch by AJ Bell will sit alongside and complement AJ Bell Investcentre, its existing platform for financial advisers and clients will be able to be held on both platforms. Combined, the platforms will provide a compelling offering for a wide range of client scenarios across all ages, portfolio sizes and investment needs. This will help advisers to adapt to a regulatory world where PROD and client suitability require advisers to segment their client base and match platforms to different client needs.
The launch of Touch by AJ Bell will be phased, starting with an ISA and GIA offering a comprehensive fund-based investment range. A pension will be added in later phases, along with additional investment options. AJ Bell expects to soft launch the initial services to a small group of advisers around the end of 2021.
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 that pricing will be confirmed nearer to launch.
Andy Bell, chief executive of AJ Bell, comments:
“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.”