'No certainty' Alliance Trust Savings platform to be sold

Valued at £38m by parent company

Tom Ellis
clock • 1 min read

Alliance Trust Savings' (ATS) parent company Alliance Trust has said there is "no certainty" its board will decide to sell the platform.

The firm said it has received "a number of expressions of interest" in the platform and is considering whether a change of ownership "would be in the interests of Alliance Trust shareholders and ATS' customers and staff".  It added: "Discussions with interested parties, each of whom envisage maintaining or growing ATS' presence in Dundee, are at an early stage and there can be no certainty that the Board of Alliance Trust will decide to sell ATS." Although it has been loss-making recently, ATS posted a profit of £23,000 in the first half of 2018, compared to a £1.5m loss in the same p...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

AJ Bell platform hits record AUM as inflows rise 19%

AJ Bell platform hits record AUM as inflows rise 19%

13% rise over the past year and a 1% increase in the quarter

Linus Uhlig
clock 24 April 2025 • 2 min read
Wealthtime signs ten-year deal with Wipro to overhaul platform

Wealthtime signs ten-year deal with Wipro to overhaul platform

The firm will use Wipro's artificial intelligence

Sahar Nazir
clock 01 April 2025 • 2 min read
Adviser platform assets up to £616.2bn in 2024

Adviser platform assets up to £616.2bn in 2024

Strong advised platform new business throughout 2024

Jenna Brown
clock 19 March 2025 • 3 min read