AJ Bell has said retail investors who want to apply for shares under its planned initial public offering (IPO) need to have opened an account with the company by 15 October.
But the company's chief executive has said AJ Bell is not using the IPO to poach clients.
The company is planning to float on the main market of the London Stock Exchange in December 2018 or early 2019.
The IPO is open to advised and non-advised UK resident customers and AJ Bell expected the application period for eligible customers to begin at the end of November or early December 2018.
Retail customers can apply for AJ Bell shares through one or each of or a combination of their self invested personal pension (Sipp), Isa, Lifetime Isa or dealing account.
AJ Bell said the minimum value of shares which must be applied for in each particular account was £1,000.
Customers will need to have cleared funds available in their AJ Bell account to cover the cost of the shares being applied for before the IPO application is made, if the IPO goes ahead in December.
Share allocations will depend on the level of demand for the IPO and Andy Bell, chief executive of AJ Bell, said it was hard to predict how much traction the offering would receive.
"We are definitely not looking to poach customers through launching the IPO," Mr Bell said.
"We want customers to come on to us if they’re interested in investing, open accounts and be long standing customers. We are expecting advisers to be neutral to the idea of their clients investing in the IPO.
"When we approached financial advisers initially with our idea, some were unsure of how it would work and a bit sketchy about the time frame. But we are confident that this is the right decision for the business."
As a result of the IPO, Mr Bell would be reducing his own stake to around 25 per cent, selling 10 per cent of his shares.
If the IPO goes ahead in December, the prospectus is expected to be available on the AJ Bell website by the end of November 2018.
Mr Bell said following the decision to float the business, it would be keeping all aspects of the business intact.
But he said AJ Bell’s third party white label business was not core to the company and he would be looking at opportunities for it in the future.
rosie.quigley@ft.com
