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 transaction, which is subject to regulatory approvals, brings together the two largest fixed-price retail investment platforms, "combining the content and digital capabilities of ii with ATS's well-established adviser business and its investment trust heritage", the groups said. ii, the UK's second largest investment platform, is majority owned by JC Flowers and currently has £90m of net...
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