All You Need to Know About New Commission-Free Investing App Dodl

It was announced very recently that AJ Bell would be launching a new investment app that is entirely commission-free. The reasoning behind the creation of such an app is to try and attract younger people who might want to get involved in investing but aren’t too sure where they should start. 

Of course, to stay up to date with new information within the financial technology sector, there are helpful blogs such as those provided by YouYaa. However, a lot of people would also like to get involved in actually investing and Dodl is going to be a good way to do that. 

It is set to launch in the early stages of 2022 and will allow people to buy and sell a huge range of different investments without encountering any kind of trading fees. The only payment that users of the app are going to need to worry about is an annual charge of 0.15%. To put that into perspective, it will make Dodl one of the cheapest platforms for investment available on the market. 

With such a good rate though, is the app going to come with good value as well? This article will look at that in a bit more detail. 

What Are the Reasons Behind AJ Bell Launching Dodl? 

There have been a lot of people signing up to a range of different investing platforms and a lot of these new users tend to be first-time investors. Some of the more common investing apps include those that are already popular amongst users, but aren’t limited to: 

• Invstr – good for learning about investment
• Acorns – good for people who want to save 
• Betterment – good for people who have an interest in socially responsible investing
• Robinhood – good for people who want to trade smoothly
• Webull – good for low-cost trading 
• Stockpile – good for gifting stock

These are all good for different reasons, but the fact remains that none of them specifically cater to first-time investors. This is why AJ Bell has decided to launch the app, Dodl, because with such low-cost trading, newer investors are going to be a lot more comfortable getting stuck into everything the world of investment has to offer. 

What Kind of Investments Will Be Available on Dodl? 

AJ Bell already has an investment platform which is called ‘Youinvest’. Dodl is going to sit alongside this platform and map out a simpler route into the world of investing so that young and new investors find it a lot less daunting getting started on their journey. 

When the app initially launches, people can get involved with 50 UK shares and 30 funds. AJ Bell has also announced that they are interested in getting some US shares and funds added later on down the line, but these will not be available at first. 

There will be a huge range of different UK shares available within those 50 options, which include the likes of BT, Greggs, easyJet, Rolls-Royce and Lloyds. This will give people insight into how different industries perform once they have been invested in. 

The fund range also comes with a lot of versatility as they are going to include multi-asset Passive Funds and a Responsible Growth Fund. They all have different effects, for instance, a Responsible Growth Fund is perfect for people who have an interest in companies that have stronger environmental, social and governance credentials. 

All of these funds are going to be Tracker Funds which means that an active stock picker is not going to be necessary when investing. 

As a means to make the whole process a lot easier too, (as is the point with Dodl) AJ Bell will offer themed investments. These will all be managed in-house and will cover: 

• property
• infrastructure
• ethical investing
• robotics
• climate change
• healthcare, 
• and technology. 

So, if there is a specific industry you are interested in investing in, AJ Bell and Dodl are going to make it incredibly easy for you to do just that. 

What Can Investors on Dodl Expect to Be Charged?

As previously stated, the annual fee of Dodl is going to come to 0.15%. To give you an idea how this is broken down, consider the prices below: 

• If your account is an ISA that comes to £10,000, the annual fee will be £15
• If your account is an ISA that comes to £20,000, the annual fee will be £30 
• If your account is a pension that comes to £50,000, the annual fee will be £75

You should note though, these fees are not all that you will be charged. In addition, you are also going to be responsible for paying the ongoing cost which is associated with the different funds that you choose to invest in. The price of such fees are going to vary depending on what the fund is; however, to give you an idea, they tend to range from 0.05% to 0.4%. 

Conclusion

Over the past few years, there has been a huge uptake in the amount of people interested in investing and this has led to an increase in downloads for multiple investment apps. While these apps all come with their own benefits, they are not really catered towards new investors. As such, AJ Bell has decided to launch Dodl, which is an investment app specifically catered towards new investors. It makes the whole process more straightforward and doesn’t come with the risk of other apps given how cheap it is. 

If you are interested in getting involved in investment, then Dodl may well be the app for you. You should also follow a range of different blogs who discuss investment and new updates that could affect certain markets. One of the best for these is provided by Global Performance Marketing Agency YouYaa, who are proficient in providing their users with updates.