Dodl: AJ Bell to launch easy to use, commission-free app

tg99

Alistair31 said:

Ok that is a pretty sweet little app. I’ve opened a GIA just for a bit of fun with the odd £50-100 per month going forward. 

Hopefully their range of shares will expand.

What is the range of etfs and mutual funds like? Other than AJ Bell’s own funds, are index funds from likes of Vanguard/L&G/HSBC for global, US, UK etc available? 

Alexland

jsinc said:

If anyone else has a LISA e.g. with YouInvest, and looking to transfer to Dodl, it's not yet possible and if 40+ can't open a new one: https://www.dodl.co.uk/features/lifetime-isa

After 5 years of full LISA contributions, bonuses and investment growth the YouInvest capped £42 ongoing charge and occasional £1.50 regular/scheduled ETF purchases work out cheaper for us than Dodl's uncapped 0.15% so we wouldn't be looking to move anyway.

adindas

DireEmblem said:

Ok so assuming no costs to trade mutual funds it’s a no brainer surely.

Similarly if they bring their full universe of securities currently on AJB, there will be more stocks than FreeTrade and 212.

For comparison:

FreeTrade ISA is £120 a year so might only be cheaper than this new offering when you have more than 80k in the account.

Trading212 has FX fees, so depends on level of trading.  Difficult to compare like for like as will be different user to user.

Signed up and look forward to see what is available to trade.

AFAIK, it is not clear yet whether there  is a FX conversion fee or not ,isn't it ?        

jsinc

Alexland said:

jsinc said:

If anyone else has a LISA e.g. with YouInvest, and looking to transfer to Dodl, it's not yet possible and if 40+ can't open a new one: https://www.dodl.co.uk/features/lifetime-isa

After 5 years of full LISA contributions, bonuses and investment growth the YouInvest capped £42 ongoing charge and occasional £1.50 regular/scheduled ETF purchases work out cheaper for us than Dodl's uncapped 0.15% so we wouldn't be looking to move anyway.

I didn't think about ETFs at the time and invested in HSBC FTSE All-World. Will reassess at some point post-bonus but not sure it will make too much difference yet (for global inc EM) when factor in fund charge too.

Umiamz

DireEmblem said:

FreeTrade/getLightYear/Trading212, you could try them all and see which one works best for you.  Can also check out their free share offers as well, may as well get the bonuses while you are at it!

Trading212 has had a waiting list for months in the UK. Not sure how long you have to wait, though.

gwiddecommbe

Hmm I already have money in AJ Bell Youinvest as lifetime Isa (2 years worth) . Presumably from reading from comments below I won't be able to transfer this across to Dodl but I will be able to open a new Lifetime ISA with Dodl as I am still under 40? Presumably Dodl would offer the same Vanguard Fund investments (e.g. Lifestrategy 100) as Youinvest but with no £1.50 dealing fee and lower annual custody fee? I would have opened my Lifetime Isa with Vanguard but they don't offer these which is disappointing. 😔

Alistair31

I don’t think VLS100 is on there.

gwiddecommbe

Alistair31 said:

I don’t think VLS100 is on there.

Ah that's a shame. Can anyone who has Dodl app confirm this? So Dodl doesn't have access to as many share / fund options as Youinvest then? 

Alistair31

I have the app and can only see 40/60/80

HSBC FTSE All World is on there, and at 0.13% is cheaper than VLS100…

curious_squirrel

If they can do this for 0.15% then am I paying too much for my AJ Bell accounts?! Excuse my grumpiness! It just strikes a bit of a weird note to me