AJ Bell attacks 'counterproductive' GB ISA as dividend jumps 21%

Platform AUA hits record £80bn

AJ Bell has taken aim at the “counterproductive” GB ISA, arguing the added complexity to the existing ISA system is more likely to deter than encourage investments, while reporting strong results across the board for the six months to 31 March 2024.

Michael Summersgill, chief executive of the platform, argued the GB ISA was "not the right solution" to boost investment in the UK economy or revive the health of the London stock market, suggesting the "extra complexity" would only further damage an ISA system that has "already become too complicated". GB ISA panel: Success for UK equities will be in the details "Our research shows complexity deters would-be retail investors from engaging with investing altogether, meaning that over the long term there is a high risk a UK ISA would actually be counterproductive," he wrote. "We bel...