AJ Bell Youinvest Dominates in Inaugural Consumer Investment Awards
AJ Bell Youinvest scooped Best Online Investment Provider and Best Online Pension Provider at last night’s inaugural Telegraph & Boring Money Consumer Investment Awards.
The wins accounted for two of the six trophies awarded last night following voting by the readers of The Telegraph and Boring Money.
The platform, which was co-founded by Andy Bell in 1995 and now has more than £42 billion in assets under administration, was praised by voters for competitive charges and great service.
Other winners on the night included The Share Centre, which topped the Best Customer Service poll; Vanguard, which took the Best Value for Money trophy; Investec Click & Invest, which was crowned Most Impactful Newcomer and Hargreaves Lansdown, which was awarded the Best Communications in Pensions by a panel of experts.
Holly Mackay, CEO of Boring Money, said of the awards: “Unlike many financial accolades, these were voted for by the consumer – not by panels of experts. There is no better judge of quality than the customer, as only they can truly know how good a service is. We’re thrilled to be channelling the voice of the everyday investor with these awards and hope it will inspire others to see how accessible investing can be.”
The full list of winners, runners up and commended companies is:
Best Online Pension Provider
Winner: AJ Bell Youinvest - Competitive charges and good service tipped the balance for this Manchester-based firm founded by the humble and likeable Andy Bell.
Runner-up: Hargreaves Lansdown - voters liked its “knowledgeable and polite employees” and the lack of phone waiting time.
Best Customer Service
Winner: The Share Centre - a clear-cut winner from the popular vote, proving that investors still want the human touch. “Share Centre is a great little company that treats you as a person.” Begging the question: what do most other firms treat you as!? You demanding lot!
Best Value for Money
Winner: Vanguard Investor – a bit of a slam dunk this one, no surprise that you favoured the US Sheriffs of value investing.
Best Online Investing Platform
Winner: AJ Bell Youinvest - the firm treads a careful line between competitive charges and good service. Investors want both and praised the “excellent service and great competitive prices”.
Runner-up: Wealthify – a relatively new player, this “robo-adviser” offers a new approach to investment, stripping out much of the gobbledegook and jargon. It scored particularly highly with female investors who praised the clear, straightforward approach.
Best Communications in Pensions
(It won’t surprise you to know that the average score for the traditional brigade was lower than 5 out of 10 here. #ohdear)
Winner: Hargreaves Lansdown – print content, online and good old-fashioned phone support were singled out for praise.
Runner-up: True Potential Investor - this financial advice firm from Newcastle also offers direct services to consumers and has been active in engaging with newly auto-enrolled workplace pensions customers.
Most Impactful Newcomer
Winner: Investec Click & Invest
Many new brands are shaking up the industry with better digital services and communications. But to succeed in an industry bereft of trust, new brands have to be recognised and trusted by consumers as well as offering something new and relevant. This modern robo from an old brand is an interesting option for those with more than the £10,000 minimum to invest.