Embark Group will scrap Alliance Trust Savings' (ATS) flat-fee pricing model for new customers after its recent acquisition of the platform's client books.
The pension and platform giant brought in 30,000 new clients with £6bn of assets under management in its recent acquisition of ATS' platform and partnership client books from Interactive Investor. The transaction, for an undisclosed sum, also included ATS' offices in Dundee and brings Embark's total scale to 180,000 clients with £22bn assets under administration. Embark Group chief executive Phil Smith told Professional Adviser existing users of ATS' platform would retain their pricing structure, but flat fees would not be an option for new clients. "We do not operate on a flat-fe...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
