Platform and SIPP provider AJ Bell has acquired the mobile phone fintech Adalpha to boost its digital offering to financial advisers.

AJ Bell is buying the Adalpha group of companies, including Ad Alpha Solutions, for an undisclosed sum.

Adalpha is developing a mobile-focused investment platform proposition for financial advisers which allows transactions and account details to be done mostly via a mobile phone. 

AJ Bell says the Adalpha platform will only be available via financial advisers.

According to the FAQs released today: “Adalpha is currently developing a simplified platform proposition for financial advisers delivered to customers via a mobile and tablet app. In essence, advisers will be provided with the software infrastructure they need to support an entirely digital service model for clients who are suited to that form of relationship and advice process.”

Manchester-based AJ Bell says it believes that this ‘simplified proposition’ has the potential to complement the company’s existing adviser platform business, AJ Bell Investcentre. 

Adalpha’s staff will join AJ Bell.

Andy Bell, chief executive of AJ Bell, said: “Financial advisers need a variety of propositions to match a diverse range of client needs. The Adalpha team are working on a simplified, mobile focused platform service that will broaden our offering to financial advisers and help them service a wider base of clients.” 

Dave Tanner, chief executive of Adalpha, said: “Our vision has always been to develop technology that helps financial advisers service a greater number of clients. Advisers should have the choice and capability to deliver their service remotely or face-to-face. As part of AJ Bell, we will be able to further develop our mobile led services and help increase clients’ engagement with their adviser.”

AJ Bell was established in 1995 and operates in the advised and direct-to-consumer sectors via AJ Bell Investcentre (adviser) and AJ Bell Youinvest (direct-to-consumer). It offers SIPPs, ISAs and General Investment / Dealing Accounts.