“In isolation I think it’s a good product, but it’s started to overcomplicate the Isa regime. We need to have a single Isa product that has different rules through the life of the customer.”
Mr Bell is mindful that many of his key relationships are with advisers, and this is the reason he bought MSM Media, which owns Shares Magazine. It employs seven journalists, some of whom provide content to put on the AJ Bell website. Data created by the magazine is also sold.
The idea is that AJ Bell can build a relationship with advisers by offering them free information.
Mr Bell said: “We’ve always been seen in that light with advisers, and we don’t charge them for that information. That gives them confidence and trust in what we do, and a platform to do business together.”
Melanie Tringham is features editor of Financial Adviser
ANDY BELL’S CAREER LADDER
1995-present co-founder and chief executive of AJ Bell
1990-1995 – actuary, DJT Group
1987-1990 – actuary, Royal Life
1984-1987 – degree in mathematics, University of Nottingham