AJ Bell offers new LISA for financial adviser clients

AJ Bell has recently launched a stocks and shares Lifetime ISA (LISA) for clients of financial advisers via the AJ Bell Investcentre platform, becoming the second adviser platform to offer a LISA.

The AJ Bell Investcentre LISA offers advisers and their clients access to the platforms’ full range of investments, including over 4,000 clean share classes, the AJ Bell passive fund range and the platform’s Managed Portfolio Service (MPS), which offers both passive and actively managed portfolios.

AJ Bell has said that its regular investment service is also available via the new LISA, allowing advisers to regularly invest on behalf of their clients on a monthly basis, without incurring dealing charges.

There is not set up charge for the LISA, however there is a tiered annual custody charge based on fund size across all accounts held on the platform, including SIPP, other ISAs and general investment accounts; 0.20% for assets up to £1m, 0.15% for assets between £1m and £1.5m, 0.10% for assets between £1.5m and £2m and 0% for assets above £2m.

AJ Bell CEO Andy Bell said: “Advisers have indicated to us that there is demand for Lifetime ISAs from some of their clients and so we are adding it to the platform for them. Our aim is to make investing easy for advisers and their clients and having the full range of investment accounts available via our platform enables them to maximise the tax efficiency of their portfolios in one place.”

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