AJ Bell has bought investment platform Adalpha as it looks to broaden its service to financial advisers.
Adalpha is developing an app-based investment platform for advisers and their clients, which AJ Bell said it believes will complement its existing adviser platform business, Investcentre.
AJ Bell said: “Having both platforms available will allow us to provide a compelling offering for a wide range of client scenarios across all ages, fund sizes and investment needs.”
According to AJ Bell, advisers will be able to hold clients on both platforms.
Andy Bell, chief executive of AJ Bell, said: “Financial advisers need a variety of propositions to match a diverse range of client needs.
“The Adalpha team are working on a simplified, mobile focused platform service that will broaden our offering to financial advisers and help them service a wider base of clients.”
Dave Tanner, chief executive of Adalpha, added: “Our vision has always been to develop technology that helps financial advisers service a greater number of clients.
“Advisers should have the choice and capability to deliver their service remotely or face-to-face. As part of AJ Bell, we will be able to further develop our mobile led services and help increase clients’ engagement with their adviser.”
According to AJ Bell, information on the release date and pricing of Adalpha will be provided “in due course”.
chloe.cheung@ft.com
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