AJ Bell launches low-cost retirement investment account

Jenna Brown reports...

AJ Bell has launched a retirement investment account (RIA) designed to suit advised clients with pensions of about £250,000.

The provider said the RIA was a low-cost pension, with annual fees of 0.25% for pots up to £500,000 and 0.20% on assets of more than £500,000.

The account is available alongside the firm’s self-invested personal pension on the AJ Bell Investcentre platform

The RIA includes tools to help advisers with investment analysis, bulk dealing, regular investments, cash management and capital gains reporting.

The investment options include full access to AJ Bell’s Funds & Shares Service alongside its Managed Portfolio Service, Retirement Portfolio Service and its multi-asset funds.

The RIA does not provide access to AJ Bell’s panel of investment partners and ‘off-panel’ investments, including commercial property.

AJ Bell chief executive Andy Bell said: “The new RIA has been designed to meet demand from advisers for a low-cost platform pension with an all-in pricing structure and comprehensive investment range to suit a particular segment of clients.

“Mifid and PROD regulations have made it clearer than ever to advisers that they need to be recommending products that are demonstrably suitable for client needs.”

AJ Bell asked the lang cat to produce an impartial review of the RIA’s features and compare its pricing to similar offerings in the market.

The report said: “It’s an aggressive move without being throat-cutting. It also feels timely in a regulatory sense – AJ Bell’s platform now offers two pension options, each right-sized for  different groups of clients.”