AJ Bell attacks 'counterproductive' GB ISA as dividend jumps 21%

Platform AUA hits record £80bn

James Baxter-Derrington
clock • 2 min read

AJ Bell has taken aim at the “counterproductive” GB ISA, arguing the added complexity to the existing ISA system is more likely to deter than encourage investments, while reporting strong results across the board for the six months to 31 March 2024.

Michael Summersgill, chief executive of the platform, argued the GB ISA was "not the right solution" to boost investment in the UK economy or revive the health of the London stock market, suggesting the "extra complexity" would only further damage an ISA system that has "already become too complicated". GB ISA panel: Success for UK equities will be in the details "Our research shows complexity deters would-be retail investors from engaging with investing altogether, meaning that over the long term there is a high risk a UK ISA would actually be counterproductive," he wrote. "We bel...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

Jupiter acquires £800m assets and investment team of boutique Origin

Jupiter acquires £800m assets and investment team of boutique Origin

Mostly institutional assets

Sorin-Andrei Dojan
clock 03 October 2024 • 1 min read
WTW takes stake in PE-backed wealth manager Atomos

WTW takes stake in PE-backed wealth manager Atomos

Backed by Oaktree Capital Management

Jenna Brown
clock 03 October 2024 • 2 min read
Dynamic Planner drops benchmark allocation to property

Dynamic Planner drops benchmark allocation to property

‘Not an investable asset class anymore’

Cristian Angeloni
clock 02 October 2024 • 2 min read
Trustpilot