AJ Bell makes triple acquisition in bid to rival Hargreaves
Platform and Sipp provider AJ Bell has bought three companies in a bid to challenge Hargreaves Lansdown by launching its own asset management business.
The company has bought discretionary fund manager Mansard Capital and passive fund provider Indexx Markets in a bid to challenge its platform rival by offering
its own range of passive funds and in-house managed portfolios to users.
It has also acquired asset management consultancy Allium Capital, which is a subsidiary of Indexx Markets. Allium runs a range of six risk-rated funds called the FP Multi-Asset DRP funds.
AJ Bell’s head of investments Alex Dymock will run the new business. He will report into AJ Bell chief executive Andy Bell.
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