AJ Bell - Reduced Dealing Charges

george4064

Received email from AJ Bell today, as below:

As part of our continued commitment to delivering great value to our customers, we’re reducing our dealing charges from 1 April 2024.

Dealing Charges:

• Shares, ETFs, investment trusts and gilts and bonds: Currently £9.95 per trade, reducing to £5.00
• Frequent shares dealing charge (if you had 10 or more share deals in the previous month): Currently £4.95 per trade, reducing to £3.50
• Telephone Dealing: Currently £29.95 per trade, reducing to £25.00

AJ Bell are also increasing the interest rates for large cash balances, more info here.

Pleased to see the dealing charges coming down and now in-line with cheaper competitors on the dealing side of things.

intalex

They're "increasing" their cash interest rates by adding a new tier "above £100k" with a higher rate whilst keeping everything below £100k at the same rates as now... that too effective April 2024... this is after their recent bottomline improving notably due to cash interest margins made...

wmb194

This move came in the wake of the FCA's criticism of it and other brokers but for a long time £9.95 per trade looked highly uncompetitive. HL's £11.95 per trading fee looks even more out of whack now so it'll be interesting to see whether it follows.

https://www.reuters.com/business/finance/hargreaves-aj-bell-shares-slide-after-regulator-warns-charges-2023-12-12/