Royal London sells D2C platform client bank to Strawberry

The Fundsdirect transaction will see just over £15m of assets initially transfer to Strawberry with the potential for this figure to increase to £21m over the coming 12 months, Strawberry said in a statement. Over 400 clients will be added to Strawberry's existing client base with the prospect of a further 400 accounts moving over in the next year. Strawberry said it hoped the deal will "broaden its reach to a greater number of investors". It said it will reduce costs to existing Fundsdirect clients by an average of 12.5%. Royal London launched the Fundsdirect online fund superm...