Managing Your Money 

Interactive Investor purchase of ATS reduces choice but could cut costs

Interactive Investor purchase of ATS reduces choice but could cut costs

Interactive Investor has bought rival platform Alliance Trust Savings in a deal worth £40m. Interactive is already the UK’s second-largest investment platform after Hargreaves Lansdown and the acquisition will increase Interactive Investor’s assets under management from £20bn to £35bn, and number of customers from around 300,000 to 400,000. Alliance Trust (ATST) has been looking to sell Alliance Trust Savings since the summer as part of its wider strategy of disposing of non-core assets and focusing on its global equity portfolio.

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