Any experience of AJ Bell YouInvest ?

Linton

jonesy103 wrote: »

Thanks Linton

Do you have a background in financial sectors and how did you decide that SIPP was right for you ?

No finance background. I needed something different to BestInvest and II - AJBell appeared to have the most professional website at the best price which provided all the facilities required.

beamyup

I was happy with AJBell in all respects, recently moved to II for the free £1k cashback they were offering in July and lower fees at my portfolio size. Also happy with II.

squirrelpie

EdSwippet wrote: »

Youinvest were Sippdeal before a name change in 2013. I was a customer of AJ Bell Sippdeal until this debacle in 2013:

https://forums.moneysavingexpert.com/discussion/48333965#84

This prompted me to move away, even though I was forced to pay hefty transfer-out charges to avoid even heftier fee increases. I remain a happy non-customer. Also, a fair bit better off for having moved.

That thread seems to point to AJBell being an absolute shocker of a company.


The thread started in 2014 and finished in it too, but without reaching a conclusion. The thread is now closed for some reason. Have you or any of the other people who made complaints (@snowman?) reached a final conclusion yet? What was the FCA's verdict? What about the small claims court? Did Which ever make a complaint?

EdSwippet

squirrelpie wrote: »

Have you or any of the other people who made complaints (@snowman?) reached a final conclusion yet?

Worth noting that AJ Bell pulled pretty much the same stunt again in 2016:

https://forums.moneysavingexpert.com/showthread.php?t=5507672#1

My recollection is that the ombudsman found for AJ Bell in every case that went to completion, based on some apparent 'agreement' with the FCA made earlier. Anecdotally, they settled a couple of open cases in the latter part of last year. Probably cleanup prior to listing on the LSE in late 2018.

DairyQueen

OH and I each have six figure SIPPs with AJB. We have transferred-in a variety of schemes, No problem whatsoever. OH has since crystallised, also without any problems.

My only gripe is that AJB don't differentiate between crystallised and uncrystallised (unlike HL).

Website is fine but not as intuitive as HL.

squirrelpie

EdSwippet wrote: »

Worth noting that AJ Bell pulled pretty much the same stunt again in 2016:

https://forums.moneysavingexpert.com/showthread.php?t=5507672#1

My recollection is that the ombudsman found for AJ Bell in every case that went to completion, based on some apparent 'agreement' with the FCA made earlier. Anecdotally, they settled a couple of open cases in the latter part of last year. Probably cleanup prior to listing on the LSE in late 2018.

Yeah, it seemed from the earlier thread that the FOS was fundamentally corrupt (to choose a brief expression for a more complicated situation) but there still seemed a possibility that the FCA or the courts might help. Your mention of 'anecdotally' suggests out-of-court settlements, perhaps with NDAs? (NDAs being abused again).

beamyup

2016<>now. AJbell is fine, v large, floated, doing well etc etc. find if it is good on charges and features for you and if it is go ahead with no worries!

caveman8006

Just to note that web-site/mobile app isn't a patch on HL - no live prices, poor charting and much less portfolio info. Have to have HL open when dealing on AJB to check recent trade prices and live quotes

Malthusian

beamyup wrote: »

2016<>now.

Back in 2016, 2014 did not equal now but that didn't stop AJ Bell pulling exactly the same stunt.

Maybe they've now found a pricing structure they can make work for the long term, but the fact remains that AJ Bell has a history of bait-and-switch pricing. Their latest money-making wheeze was to be the only major SIPP provider willing to take on insistent DB transfers. Once that market is tapped out, who knows what will be their next strategy to improve profits.

There are far worse DIY platforms out there but they wouldn't be my choice. They're neither particularly good nor particularly cheap. Alternating between bait-and-switch pricing and desperate for business is not a good look.

squirrelpie wrote: »

The thread is now closed for some reason.

All threads are automatically closed after a certain length of time. Probably to prevent egregious bumping of dead threads.