Webull (NASDAQ: BULL) announced the launch of mutual funds for Individual Retirement Account (IRA) customers, according to a company statement. The online investment platform said the new offering provides IRA account holders access to professionally managed mutual funds within its platform.

The service is currently available in beta for select U.S.-based customers, with a full rollout to all IRA accounts planned. Webull said the offering includes access to no-load mutual funds and expanded portfolio diversification options for retirement investors.

"Expanding access to mutual funds within IRA accounts allow investors to more easily diversify their portfolios and manage their retirement savings through a single platform," said Lindsay Ryan, Head of U.S. Products.

The company stated that mutual funds pool investor capital into diversified portfolios managed by professional portfolio managers. Webull said the launch targets investors contributing to retirement accounts, rolling over retirement assets, or seeking diversification through professionally managed products.

Key features include access to diversified mutual funds within eligible IRA accounts, availability of no-load funds for retirement investors, and expanded diversification options. The company said its fund lineup will continue to expand through the addition of new funds.

Webull also indicated that support for ACAT transfers of mutual fund positions is expected in a future release. The platform serves more than 27 million registered users globally and operates in 16 markets across multiple regions.