The D2C market exploded during the pandemic and competition for consumer business is fierce. AJ Bell’s direct platform, YouInvest, has done rather well out of it, but keen to not stand still it’s now going head to head with trading apps and Vanguard with its new app, Dodl.
Hargreaves Lansdown published its interim results on Friday. Chris Hill, CEO, stated that the platform will be introducing changes to its research process with the aim of providing more detail and greater transparency. There will also be new functionality for customers who want a deeper, more autonomous dive into fund research.
A new job in the city with more money has meant that I’ve been able to save. Hurrah! I had a general investment account with Fidelity and topped it up with a smallish investment. I was quite happy with the way my investment was ticking along, until I decided to check out the charges on offer.
Every Tom, Dick and Harry has had a pop at Neil (yes, the villain has a first name) Woodford over the last few days. Countless rent-a-mouths have queued up to drizzle us with their schadenfreude (most know nothing about funds). But while they like to claim they saw it coming, they conveniently forgot to warn the rest of us.
Last week Investec announced it was closing its Click & Invest Robo-advice service. And it didn’t hang around either — the site was taken down as soon as the announcement was made. It’s a shame because Click & Invest had the potential to be different.
It’s beginning to look like a trend. First we had the tiny Aegon platform making a play for the massive Cofunds platform, and last week it was announced that Interactive Investor is to buy TD Direct, TD Bank’s European direct business.
January is usually an austere month. After the Christmas and New Year festivities, not only do we have far less money, but it’s also becoming the norm to give up alcohol for the entire month. Add to that our (mostly) unrealistic New Year resolutions to get fitter, get richer, and get better at a variety of things and January becomes a very tiresome month.