Mr Doran joins from Brown Shipley where he was chief investment officer. He will be responsible for leading AJ Bell’s investment team and developing the range of investment solutions it offers to financial advisers and customers.

Matthew Brennan will also be joining AJ Bell as fund manager.  He will be part of the team responsible for the day-to-day running of the AJ Bell passive funds and will work with Mr Doran to expand the range of investment options AJ Bell provides.

Mr Brennan was senior fund manager and head of fixed income research, also at Brown Shipley working for the Brown Shipley Private Bank.

Mr Doran said: “Following the FCA’s asset management market study there is a huge focus on the value active fund management is delivering to investors.  This creates an opportunity for a new investment proposition capable of delivering active returns at passive prices.”

Andy Bell, chief executive of AJ Bell, said: “Kevin and Matthew bring a huge amount of expertise and knowledge to the business at a time when we believe there is growing demand for straightforward, low cost investment solutions.”