Home » Dodl by AJ Bell launches today, helping people invest commission free and for just 0.15% a year

Dodl by AJ Bell launches today, helping people invest commission free and for just 0.15% a year

by LLT Editor
20th Apr 22 11:22 am

AJ Bell today launches a new investment app called Dodl by AJ Bell, which aims to make investing easier and accessible to everyone via a no-nonsense, commission-free mobile app. The app has been designed to be easy to use regardless of investment experience, the investment range is streamlined so as not to overwhelm investors and the charges are clear for customers to understand.

Dodl by AJ Bell is amongst the lowest cost investment platforms in the market, with an annual charge of 0.15% and no commission for buying or selling investments.  See below for pricing comparisons.

Investing needn’t be scary

The FCA has recently identified 8.6m adults in the UK who hold more than £10,000 of investible assets in cash.  Why?  Because they find investing scary.  New research with over 2,000 people found that people who don’t currently invest are put off because they don’t know where to start (37%) or they think it’s too complicated (18%). 48% of these people said being able to choose from a narrow list of investments would encourage them to start investing and 40% said single funds invested in mainstream investment themes would help get them started.

Dodl and its friendly monster characters (images attached) aims to break down these barriers, making it a great option for anyone looking for a low-cost, easy to use investment app. The simple investment journey and streamlined investment range will appeal particularly to those that are new to investing, disappointed with low returns on cash savings and want an easy way to manage their investments.

Given the products available (see below) and investment range it is likely to appeal to long term investors more than day traders or hobbyist investors, which AJ Bell Youinvest will continue to serve.

Helping people get started with investing

A Dodl account can be opened via the app in just a few minutes and customers will be able to pay money in to accounts via Apple and Google pay, as well as debit card payments and direct debits. Regular investments can be set up to help people save little and often.

Full range of products

Dodl offers all the main products people need to save tax efficiently – Individual Savings Account (ISA), Lifetime ISA and Pension – as well as a General Investment Account.

Investment options

Dodl’s simplified investment range makes it easier for customers to research and select the funds and companies they want to invest in. There is a total of 30 funds and 50 UK shares, with dealing once a day.

For those that want a ready-made investment that is managed according to how much risk they want to take, AJ Bell’s low-cost multi-asset funds cater for six different risk levels.

For people who want to invest in companies that take their commitment to the environment and society seriously, there is the AJ Bell Responsible Growth fund.

If customers want to invest in specific markets or themes there are 23 funds which focus on the core stock markets around the world and specialist themes such as technology, robotics, healthcare and property, from a range of well-known investment providers such as Blackrock and Vanguard.

For those that like to invest in the brands they love, Dodl features 50 popular shares in UK listed companies, with US shares coming soon.

The full list of themed investments and shares is available on request.

Andy Bell, chief executive of AJ Bell (pictured with Ern, Dodl’s head monster), comments:

“Investing needn’t be scary.  In developing Dodl we’ve focused on removing jargon, making it quick and easy to open an account and narrowing the range of investments customers have to choose from. It also has a simple, very low annual charge, with no commission for buying or selling investments.

“This combination of simplicity and value make Dodl a great option for anyone looking for a low-cost, easy-to-use investment app to help them meet their investment goals. The simple investment journey and streamlined investment range will appeal particularly to those that are new to investing and want an easy way to manage their investments.”

The charges

Dodl has a single, all-in annual charge of just 0.15% of portfolio value for each investment account (ie a pension or ISA), with a £1 per month minimum per account.  There will be no commissions for buying or selling investments and no tax wrapper charges. Customers investing in funds will also pay the annual charge of the underlying fund as normal.

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