Displaying items by tag: AJ Bell

AJ Bell, the SIPP and platform provider, has acquired mobile phone fintech Adalpha to increase its digital offering to financial advisers.

AJ Bell is buying the Adalpha group of companies, including Ad Alpha Solutions, for an undisclosed sum.

Adalpha is developing a mobile-focused investment platform proposition for financial advisers which allows transactions and account details to be done mostly via a mobile phone. 

AJ Bell says the Adalpha platform will only be available via financial advisers.

According to the FAQs released today: “Adalpha is currently developing a simplified platform proposition for financial advisers delivered to customers via a mobile and tablet app. In essence, advisers will be provided with the software infrastructure they need to support an entirely digital service model for clients who are suited to that form of relationship and advice process.”

Manchester-based AJ Bell says it believes that this ‘simplified proposition’ has the potential to complement the company’s existing adviser platform business, AJ Bell Investcentre. 

Adalpha’s staff will join AJ Bell.

Andy Bell, chief executive of AJ Bell, said: “Financial advisers need a variety of propositions to match a diverse range of client needs. The Adalpha team are working on a simplified, mobile focused platform service that will broaden our offering to financial advisers and help them service a wider base of clients.” 

Dave Tanner, chief executive of Adalpha, said: “Our vision has always been to develop technology that helps financial advisers service a greater number of clients. Advisers should have the choice and capability to deliver their service remotely or face-to-face. As part of AJ Bell, we will be able to further develop our mobile led services and help increase clients’ engagement with their adviser.”

AJ Bell was established in 1995 and operates in the advised and direct-to-consumer sectors via AJ Bell Investcentre (adviser) and AJ Bell Youinvest (direct-to-consumer). It offers SIPPs, ISAs and General Investment / Dealing Accounts.

Pension savers have reclaimed £693m in overpaid pension tax since pension freedoms were introduced in April 2015.

Pension savers withdrew £9.4bn flexibly using the Pension Freedoms in 2020, new HMRC data reveals.

Platform and SIPP provider AJ Bell will remove the VAT charge from its Managed Portfolio Service (MPS) from 1 October.

I recently presented a technical webinar on pension transfers which included a look at transfers to qualifying recognised overseas pension schemes (QROPS).

The Pensions Lifetime Allowance is set to rise by £5,800 to £1,078,000 next year following news today of the latest CPI inflation rate of 0.5%.

Pension scams are not new but are growing in number and constantly evolving. Thankfully, after a slow start the wheels in motion to combat the scammers are starting to pick up speed.

The Retirement Cafe has marked its 100th episode, with founder Justin King of MFP Wealth Management helping more people plan for retirement via the medium of podcast.

I last wrote about Mrs Staveley in my blog of June 2019, and the name will be familiar to many. Mrs Staveley passed away back in December 2006 having transferred her pension just a few weeks earlier while in full knowledge of her terminal illness.

Investment platform AJ Bell said the Government must ensure state pension data is available on the first version of pensions dashboards when they are launched in the UK.