AJ Bell is developing its own buy list of funds following the likes of Hargreaves Lansdown and Tilney Group, Fund Strategy’s sister title Money Marketing understands.
The platform is building a ‘favourite funds’ list to launch in the near future, which will be available to both direct customers and advisers. The company will discuss the proposition with advisers to review demand.
AJ Bell will also launch a buy list of preferred investment trusts later in the year. Fidelity FundsNetwork and FundCalibre already include investment companies in their lists.
Currently, AJ Bell has a ‘top tracker’ list of exchange-traded funds for direct-to-consumer investors.
In its asset management interim study, the FCA said only a few brokers included ETFs in their buy lists, as opposed to actively managed funds.
Other firms that publish fund buy lists include Barclays Stockbrokers, Charles Stanley Direct and The Share Centre.
Thameside Financial Planning director Tom Kean says: “There’s plenty of alternative best buy lists and we enjoy reading them and comparing funds. The more the merrier as this tends to support the fact there are a lot of opinions in picking funds.
“There’s no harm in doing it despite FCA warnings, as it’s a form of fund research. With these lists you can soon spot regular winners and it’s good to get a second opinion.”