interactive investor agrees to acquire customer book from Equiniti Group Plc (EQ)
Interactive Investor (“ii” or “the Company”), the UK’s second largest direct-to-consumer investment platform and number one flat fee provider, has agreed to acquire the direct-to-consumer retail customer book from EQ, for a total consideration of up to £48.5m, subject to post completion adjustments.
The EQi brokerage business is flat fee and customers will continue to benefit from interactive investor’s flat fee model as well as being part of a robust and focused business.
ii is committed to informed investment choice and value for its customers. In an increasingly technology-driven environment, increased scale supports ii’s commitment to value, and the continuous investment required in technology, skills and customer experience.
interactive investor is an award-winning investment platform that puts you in control of your financial future.
We have been helping investors for over 25 years, through market highs and lows offering high quality content and impartial insights. We’re now the UK’s number one flat-fee investment platform, with assets under administration over £70 billion and over 430,000 customers.
For a simple, flat monthly fee we provide a secure home for your pensions, ISAs and investments. We offer a wide choice of over 40,000 UK and international investment options, including shares, funds, trusts and ETFs.
We also bring you impartial, expert content from our award-winning financial journalists, highly engaged community of investors, and daily newsletters and insights.
Richard Wilson, CEO, interactive investor
I am delighted to announce the acquisition of EQ’s retail investment business and look forward to welcoming EQi customers to the ii platform, where we hope they will benefit from our no-nonsense fixed fee pricing, commitment to service and continuously developing technology and content.
We feel privileged to serve EQi customers and, as a matter of course, if, six months from migration, we find that they would have paid less under EQ’s charging model, we will refund the difference.
