Adviser and direct-to-consumer platform Alliance Trust Savings (ATS) has been sold by parent Alliance Trust to Interactive Investor (ii) for £40m, creating a combined platform with £35bn of assets under administration.
The sale also includes Alliance Trust's office building in Dundee, where the platform is based. The trust, which has been headquartered in Dundee since 1888, will continue to be based in the city. The...
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'There will be more consolidation'
'Substantial lessening' of competition
'Until absolutely safe'
Asset managers and platforms don't always see eye-to-eye
Market turmoil erodes trust
Fund managers see 'signs of a tentative recovery'
Operating profits at £117m in first half
Cofunds integration offset expenses
'Others will also lose access to advice as the market implodes'