Named Dodl by AJ Bell, the new platform is set to give retail investors a more streamlined and accessible experience when investing.
It is also expected to provide a low-cost alternative for many investors, both old and new. Dodl users will be charged an annual fee of 0.15% of the value of their portfolio, and the platform is entirely commission-free.
Dodl by AJ Bell will launch with a host of additional features
At launch, Dodl will allow traders to invest in a range of UK companies, with US listed companies coming soon afterwards. It also provides investment themes, in which users can invest in funds based around core ideals, such as robotics, technology, healthcare, or sustainable investing.
Dodl will also offer the option to build up savings, providing ISAs, Lifetime ISAs (LISA), and General Investment Accounts (GIA) to its users. The app will also have a personal pension service, which will allow the consolidation of existing pensions onto the platform.
Chief executive and founder of AJ Bell, Andy Bell, hopes that the platform will appeal to all investors. He said: “Dodl by AJ Bell is for anyone looking for a low-cost, easy-to-use investment app to help them meet their investment goals such as saving for a house deposit, holidays or retirement.”
The app could be particularly useful for a novice investor, as Dodl will offer a more “streamlined” range of investments which users will find simple to manage.
Plus, the app will be designed to avoid the use of complex jargon to create a novice-friendly environment.
One of the key advantages of Dodl compared to rivals is likely to be that it aims to be one of the cheapest and most cost-effective methods of investing, while also retaining features that users want. Despite the low cost, Andy Bell believes that the app’s range of investments should provide enough variety to satisfy most retail investors.