With assets totalling £54.3 billion, AJ Bell is one of the UK’s largest investment platforms. The company has a comprehensive range of investments on offer spanning everything from investment trusts and ETFs, to gilts, warrants, corporate bonds, passive funds, SIPP, stocks and shares and ISAs.
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Stocks and Shares ISA
AJ Bell’s Stocks and Shares ISA are an ideal way for most people to invest as they offer generous tax benefits and allow you to access your money when you want. You pay no further tax on any income earned or any gains when you sell your investments. The ISA allowance each year is £20,000.
You can invest this as one lump sum or smaller amounts but must remember that once the tax year is over if you have not used all your allowance you will lose it. The stocks and shares ISA lets you grow a pot of investments safe from the taxman. And as your money isn’t locked away, you can access it just in case there’s a rainy day.
The company offers investment advice and a range of free investment tools, videos and research.
Lifetime ISA
AJ Bell’s Lifetime ISA (LISA) is a new way for younger investors to save for their first home or retirement. For every £4 you put in, the government adds £1 – up to a maximum bonus of £1,000 per year.
So a saver who puts £4,000 yearly into a Lifetime ISA from the age of 18 will get a generous £32,000 bonus, before any interest or growth. If, however, you withdraw money before age 60, other than to purchase your first home, you will pay a government withdrawal charge of 20%.
Junior ISA
Just like an adult ISA, AJ Bell’s Junior ISA is also wholly tax free. Money invested is sheltered from capital gains and income tax, making it an attractive, tax-efficient product. Money is safely locked away until the child turns 18, helping a nice nest egg build up.
You can invest up to £9,000 each tax year, and can buy and sell investments from just £1.50. There are a huge range of investment options available and specialist advice is available if you need help picking your portfolio. Only parents or guardians are able to open a Junior ISA, but anyone can pay into them (such as grandparents or friends).
Other Services
AJ Bell has a comprehensive range of investments on offer spanning everything from investment trusts and ETFs, to gilts, warrants, corporate bonds, passive funds, SIPP, stocks and shares and ISAs.
AJ Bell Reviews and Ratings
Online reviews for AJ Bell are fairly poor with many complaints of people being unable to access the trading platform, as well as people finding the website unhelpful and difficult to navigate. There are also several bad experiences regarding poor customer service as people find the company difficult to work with.
Trustpilot – 2.1/5 (based on 43 reviews)
Reviews.io – 5/5 (based on 1 review)
Pros
- A wide range of over 2,000 investment opportunities
- Specialist help and investment advice offered
- Low fees and costs – deal from £1.50 and never pay more than £9.95 per online deal
- Easy to use online account available 24/7
- Free investment tools, videos and research
- Customers with more than £4,000 in their account get free access to Shares magazine
- Award-winning: Sunday Times 100 Best Companies, Money Marketing Awards and Moneyfacts Annual Star Ratings 2020
- Online free signup
Cons
- Many complaints of people unable to access the trading platform
- Poor customer service reviews
- A difficult to navigate website
- Financial or investment advice not offered
- The company does not offer Innovative Finance ISAs
- Government withdrawal charge of 20% to take money before the age of 60 on Lifetime ISAs
Website: AJ Bell