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AJ Bell Youinvest investment platform review

We analyse the charges levied by AJ Bell Youinvest and ask whether the investment platform provides good value for investors

In this article
What is AJ Bell Youinvest? Is AJ Bell good? What do customers say about AJ Bell? What are AJ Bell's charges? Who is AJ Bell good for?
Who is AJ Bell expensive for? What accounts and services does AJ Bell offer? Is your money safe with AJ Bell? Get top money-saving tips from Which?

What is AJ Bell Youinvest?

Formerly known as Sippdeal, AJ Bell Youinvest is an investment platform offered by AJ Bell that offers stocks and shares Isas and dealing accounts.

It also offers its flagship self-invested personal pension (Sipp), which it claims was the first online Sipp in the UK when it was launched in 2000.

Is AJ Bell good?

The Which? rating for customer satisfaction is based on feedback from real customers. We ask investors to rate their current platform for the quality of its online tools, customer service and investment information. We also ask if the available investments meet their needs, is good value for money and whether they would recommend it to someone else.

However, to be named a Which? Recommended Provider (WRP), customer satisfaction alone won't suffice; we also consider platform fees

Which? members can exclusively read the results of our unique customer satisfaction survey.

Members can log in to see our review of AJ Bell. If you're not already a member, join Which? to get full access to these results and all our reviews.

Aspect of service Star rating
Online tools Logged out padlock
Customer service Logged out padlock
Investment information Logged out padlock
Available investments meet my needs Logged out padlock
Value for money Logged out padlock

What do customers say about AJ Bell?

  • 'I've been invested with AJ Bell for three years. No problems.'
  • 'Has always been very reliable, with straightforward pricing policies.'
  • 'Easy to navigate website, excellent range of investment opportunities, everything seems to work as it should, excellent market commentaries and investment insights, good value for money.'

Find out more: how does AJ Bell compare with other platforms?

What are AJ Bell's charges?

Annual charges

  • 0.25% custody charge for shares (including investment trusts, ETFs, gilts and bonds); maximum £3.50 per month. 
  • 0.25% custody charge on the first £250,000 of funds (including unit trusts, open-ended investment companies and structured products)
  • 0.10% on the value of funds between £250,000 and £1m
  • 0.05% on the value of funds between £1m and £2m
  • No funds custody charge on the value of funds over £2m

Trading charges

  • £4.95 and £9.95 to trade shares and investment trusts online, depending on the frequency
  • £1.50 to trade unit trusts and open-ended investment company funds online

How much would I pay to invest?

We’ve estimated the cost of investing with  AJ Bell Youinvest over the course of a year, as shown in the tables below.

Costs will vary depending on how much you invest and whether you trade funds or shares. All assume you make four purchases and four sales each year, spread out over different months.

Amount invested Annual cost
£5,000 Logged out detail
£10,000 Logged out detail
£25,000 Logged out detail
£50,000 Logged out detail
£100,000 Logged out detail
£250,000 Logged out detail
£500,000 Logged out detail
£1m Logged out detail

Source: Analysis by Which? Money correct as of April 2021

Read our comparison of investment platform charges to see whether another platform could work out cheaper than AJ Bell for your portfolio.

If you're thinking of using AJ Bell Youinvest to take an income from your pension in a drawdown plan, read our comparison of pension drawdown charges

Who is AJ Bell good for?

AJ Bell Youinvest provides a compelling option for cost-conscious investors who want to invest in a broad range of assets.

AJ Bell Youinvest is likely to be among the cheapest options for small and medium portfolios, whether you trade funds or shares. 

It's also fairly cheap for those with large portfolios, but lags behind some fixed-fee brokers (see below). 

Who is AJ Bell expensive for?

AJ Bell Youinvest is competitive on charges for those with larger portfolios, but the bigger your pot, the more likely you will be better off with a fixed-fee broker such as Interactive Investor or Halifax Share Dealing.

What accounts and services does AJ Bell offer?

The information below gives an at-a-glance view of the accounts and services AJ Bell offer.

Elements marked with a are offered by AJ Bell and those marked with a are not.

 

  Advisory services

 

Advisory services allow you to access professional investment advice.

 

 General investment account

 

A general investment account that can hold different types of investments, but doesn’t give tax-free benefits such as pensions and Isas.

 

 Income drawdown

 

Income drawdown allows you to take money out of your pension to live on in retirement.

 

 Junior Isa

 

A junior Isa is a tax-free savings account for those under the age of 18.

 

 Lifetime Isa

 

A lifetime Isa is a tax-free savings or investment account designed to help people aged 18 to 39 buy their first home or save for retirement. 

 

✓ Sipps

 

A Sipp is a pension where you have complete control over the investments you put your savings into.

 Savings account

 

A savings account is somewhere you can put your money so it can grow in value. 

 

 Stocks and shares Isa

 

A stocks and shares Isa is a tax-free account that allows you to put your money in a range of investments.

 

 Annuity

 

An annuity is an insurance product which allows you to swap your pension savings for a guaranteed regular income that will last for the rest of your life. 

 

 Banking services

 

Banking services allow you to operate bank accounts, make transfers and make payments.

Is your money safe with AJ Bell?

 

If AJ Bell went out of business, you would be compensated by the Financial Services Compensation Scheme (FSCS).

 

The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online: there’s no reason to use a claims management company.

 

You won’t be compensated for investments falling in value, or a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust. 

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