AJ Bell's investment platform Sippcentre has changed to AJ Bell Investcentre from this month.

The company says that the decision marks a "significant new chapter" for the platform, which was has been trading under the Sippcentre brand since it was launched in 2002.

Billy Mackay, AJ Bell's marketing director, said: "The decision was taken for two main reasons. Firstly, we had received feedback from advisers and customers who felt that our old name implied a niche offering based solely around Sipps. In reality, our platform is much more than that and the risk is that some would still see us as being just a pension provider."

Mr Mackay continued: "Secondly, we felt that there needed to be a clearer, more explicit connection between Sippcentre and the wider AJ Bell brand. AJ Bell has been around since 1995 and over recent years we have been working hard to raise our profile and we want the adviser platform to benefit from that work."

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AJ Bell says that rebranding to AJ Bell Investcentre will also mean that the platform will benefit from increased recognition as a result of AJ Bell's sponsorship activities at the AJ Bell Stadium in Salford, the AJ Bell British Squash Grand Prix and the AJ Bell Players and Media centre at Emirates Old Trafford.

The move has also driven development of a new AJ Bell Investcentre website, with greater functionality, a new 'customer area' and an improved user experience.

Mr Mackay added: "This rebrand is really the culmination of several big changes for our platform. As well as the new website, we have introduced a live cash feed to our Funds & Shares Service, upgraded our entire back office system, and will also be launching enhancements to our platform tools. In short we have laid the foundations for a really exciting new phase, and one that should see us build on the success of Sippcentre since 2002."