AJ Bell acquires platform phone app developer Adalpha

Developing app for advisers

AJ Bell has bought Adalpha, a start-up company developing a mobile platform proposition for financial advisers, for an undisclosed fee.

AJ Bell said the acquisition was focused on improving its service to financial advisers, rather than its D2C proposition. The platform business, which has £55bn assets under administration between its adviser and D2C platforms, said Adalpha's "simplified proposition" has the potential to complement its existing adviser platform business. There is no current launch date for any technology but, post-launch, AJ Bell said clients will not be able to open an account without a financial adviser. AJ Bell has said there will be no "robo-advice" functionality, nor is there any intention to add...