Salford-based investment platform AJ Bell has launched its new investment app called Dodl which aims to “make investing easier and accessible to everyone” via a commission-free mobile app.

“The app has been designed to be easy to use regardless of investment experience, the investment range is streamlined so as not to overwhelm investors and the charges are clear for customers to understand,” said AJ Bell.

“Dodl by AJ Bell is amongst the lowest cost investment platforms in the market, with an annual charge of 0.15% and no commission for buying or selling investments.”

AJ Bell said the FCA recently identified 8.6 million adults in the UK who hold more than £10,000 of investible assets in cash because they find investing “scary.”

“New research with over 2,000 people found that people who don’t currently invest are put off because they don’t know where to start (37%) or they think it’s too complicated (18%),” said the Salford firm.

“48% of these people said being able to choose from a narrow list of investments would encourage them to start investing and 40% said single funds invested in mainstream investment themes would help get them started.”

AJ Bell CEO Andy Bell said: “Investing needn’t be scary.

“In developing Dodl we’ve focused on removing jargon, making it quick and easy to open an account and narrowing the range of investments customers have to choose from.

“It also has a simple, very low annual charge, with no commission for buying or selling investments.

“This combination of simplicity and value make Dodl a great option for anyone looking for a low-cost, easy-to-use investment app to help them meet their investment goals.

“The simple investment journey and streamlined investment range will appeal particularly to those that are new to investing and want an easy way to manage their investments.”