The acquisition adds investment management services to AJ Bell’s existing offering; giving the company discretionary permissions, as well as the ability, to launch their own funds and build new investment solutions for financial advisers.
“Although early days, our initial intention is to offer a no-nonsense, low-cost range of passive funds to the adviser market; along with a model portfolio service based around passive funds,” a spokesman for AJ Bell said.
Two parts
The acquired business is split into two distinctive parts:
Indexx Markets, which designs investment products, and its FCA regulated wholly owned subsidiary, Allium Capital, which operates an existing range of investment funds, the FP Allium DRP Funds; and, Mansard Capital, which is also FCA regulated and provides investment management services to, amongst others, the FP Allium Portfolio Funds.
"Our initial intention is to offer a no-nonsense, low-cost range of passive funds to the adviser market."
Awaiting approval
The businesses will form a new enterprise called AJ Bell Investment Management. Alex Dymock, head of investments at AJ Bell, will run the new businesses and report to chief executive Andy Bell.
“Through this vertical integration we will be able to increase the value we deliver to financial advisers. We will work with financial advisers to build solutions they need to service their client’s needs,” the AJ Bell spokesman said.
The acquisition is subject to FCA approval.
