Interactive Investor, the UK’s second biggest direct-to-consumer investment platform, has completed its purchase of The Share Centre, taking its assets under administration to £36bn. Interactive Investor also follows a flat fee model, which was introduced early last year and includes three subscription plans involving a monthly fee, which replaced its quarterly charging structure from June. interactive investor Interactive investor start offering bitcoin trading last week Fidelity Investments. The first option, dubbed the 'Investor' plan, levies a monthly subscription charge of £9.99 on top of £7.99 per trade for UK shares, ETF, investment funds and trusts, with one free trade per month. ', 'The Share Centre are a relatively small provider, so I don’t think the medium to large providers such as AJ Bell and Fidelity will be too concerned with this acquisition. Interactive Investor, one of Britain’s largest fund shops following its acquisition of rival TD Direct, has published the prices that customers of the new merged service will pay. deals 17 Feb 2020 Ashurst advises on Interactive Investor's £61.9 million recommended takeover of Share plc News, Deals & Awards Ashurst is advising Rothschild & Co in relation to the recommended takeover of Share plc by Interactive Investor, announced today. Mike Barrett, consulting director at The Lang Cat, said as there is a precedent, he expects this merger to follow the same path. She added though this means II will jump ahead of other rivals in terms of size, it is still relatively small compared to the dominant Hargreaves Lansdown. In addition, in the past year we launched the ACE 30, the UK’s first rated list of ethical investments. The Investor Relations website contains information about Take-Two Interactive Software, Inc.'s business for stockholders, potential investors, and financial analysts. Meanwhile, its bond offer (only Gilts and UK bonds) lags behind that of its competitors. 'Their focus on trading functionality, wide investment range (ETFs, equities) and keen pricing makes them attractive to more experienced investors, whereas Hargreaves Lansdown's typical customers tend to invest and hold funds. Trump gone, coronavirus recovery and a green stimulus on the way: Where are the best places around the world to invest in 2021? It also gives customers real choice to have several large players like AJBell Youinvest, interactive Investor and HL competing for their business.'. The UK-based group said it had received an approach from AMP, the Australian financial services giant, about a possible cash offer at a "small" premium to III's current net cash position. Its bumper subscription price is down to the discounted cost to trade US shares of £4.99 in contrast to £7.99 for the other platforms. The comments below have not been moderated. Interactive Investor has great fund but average stock and ETF offers. Islington tops the list with home values surging 13% - with Leeds not far behind, Is this the most lavish property show ever? Investing platforms urged to give regular investors a fairer... Five tips to boost your investments in 2020: Put a spring in... Don't laugh, but here's why you're a better investor than... How to choose the best (and cheapest) DIY investing platform - our pick of stocks and shares Isas and online brokers, Source: ThisisMoney.co.uk Jan 2020 Admin charges quoted annually, may be collected monthly or quarterly, Easy and most popular DIY investing platform, Max £30 investment trust and shares ISA fee, Online investment advice on Isas and Sipps, Interactive Investor is buying rival The Share Centre, > Compare the best investing platform for you, Check shares, funds and investment trusts. For II customers, there is likely to be very little impact, if any, and for The Share Centre customers, it should be business as usual in the short term. What kind of rescue could trigger a stock market bounce back? Barrett added: 'II have historically attracted a slightly different customer to Hargreaves Lansdown. PLC has agreed to a GBP62 million takeover offer from interactive investor, it confirmed on Monday. The third and final option, the 'Super Investor' plan, costs £19.99 per month and also charges £3.99 for UK share, ETF, fund and trust trades. Interactive investor (ii), the flat fee investment platform, has completed its takeover of rival The Share Centre, creating a group with 570,000 customers. Interactive Investor, the UK’s second-biggest consumer investment platform, is set to acquire The Share Centre, a competitor, in a deal that would boost its assets under management to £36bn. It added that all II and The Share Centre customers’ cash and investments continue to be covered by the Financial Conduct Authority Client Money and Asset Rules and protected by the Financial Services Compensation Scheme. https. Meanwhile, other international shares also cost £9.99 - £10 less than the price levied in the other two plans. A £30bn high street voucher scheme could kick-start Britain’s recovery, according to the Resolution Foundation. Are their fees good? That helps us fund This Is Money, and keep it free to use. We do not allow any commercial relationship to affect our editorial independence. Meanwhile, Caridade-Ferreira said a customer's decision on which platform to use should not just be about who offers the cheapest fees. 'Ultimately it is about which service is right for you. This year saw Britons pay off £15.6bn in personal debt in seven months - will we continue to purge the plastic? They might be giants: Do US smaller companies still offer rich pickings? Interactive Investor offers a cost-effective service for those with medium-to-large portfolios (£50,000 or more), combining fixed fees with a respectable customer score, although it's not among the highest ranking platforms. Investments are still protected and safe, and customers will be able to invest and trade as per normal while the transition takes place. Over time, the ownership will change to II, meaning from a technical point of view, The Share Centre customers will eventually move to a different system. Stream Tracks and Playlists from Interactive Investor on your desktop or mobile device. Gavin Oldham OBE, Executive Chairman of Share plc said: “I am delighted to welcome this combination of our businesses, […] What is the best investment platform? Investment platform Interactive Investor has approached broking firm Share to discuss a potential takeover offer. (Bloomberg) -- Codemasters Group Holdings Plc has agreed to a $1.2 billion bid from Electronic Arts Inc., which topped a $956 million offer from Take-Two Interactive … Some links in this article may be affiliate links. Six bad driving habits that could cost you a fortune: From leaning on the gear stick to coasting, we reveal the average associated repair bill, Want to follow in the footsteps of Sarah Beeny? Try this eight-question test and find out the answer, Bitcoin on track for its longest monthly winning streak in more than a year as price edges closer to $30,000. For more information read the "Characteristics and Risks of Standardized Options". Share plc has agreed a 61.9 million pounds takeover offer from Antler Holdco Limited or ii, a holding company of Interactive Investor and the ii Group.As per the terms of the offer, each Share plc shareholder will be entitled to receive 4.1 pence in cash and 0.0008355599837 new ii shares for each Share plc share. Interactive Investor said the merger was needed to 'sustain the level of profitability' needed to keep investing in the platform's technology amid rising competition and that there is a 'strong strategic rationale for consolidation among compatible groups'. Having spent time with the II business in the lead up to today, it’s clear the two businesses are highly complementary and I am pleased that customers of The Share Centre will benefit from II’s similar low flat-fee structure, as well as its increased scale and focus.”, If you would like to know more about our pprivacy ppolicy, please folllow this link: Separate plans to shake up social care pushed by two ex-health secretaries, New record for wind power generation: Half of Britain's electricity came from turbines on Boxing Day thanks to Storm Bella, BUSINESS CLOSE: FTSE 100 soars to 10-month high as global shares hit records; Admiral to sell Confused.com. Investing platform Interactive Investor has confirmed it is buying rival platform The Share Centre for £62million. Stocks and ETFs. Coronavirus and your finances: what help can you get in the second lockdown? Given that those customers who choose a fixed fee model tend to do so very purposefully, I should think most people will stay with them for that reason.'. For a copy call Interactive Brokers' Client Services on 312-542-6901. Commenting on the news, Bella Caridade-Ferreira, of research house Fundscape and comparetheplatform.com, said: 'Consolidation is inevitable because the cost of acquiring clients through advertising and the cost of providing a rich seam of resources and guidelines as well as access to to a wide array of investment wrappers and funds, are significant. Is Interactive Investor safe? Receive money tips, news and guides directly into your inbox, Money experts reveal their financial resolutions for 2021, The savings accounts paying the most interest, Five possible tax hikes in 2021 and how to prepare for them today, Black Friday shoppers warned about buying electrical items from online marketplaces, ‘I’ve been taxed on redundancy pay despite it being under the £30k limit. It is also less than a year since II acquired Alliance Trust Savings, which saw £9billion of assets migrate from ATS to II  in October 2019. Interactive Investor to acquire Share plc, BLOG: The outlook for financial markets in 2021, AJ Bell shakes up pension and investment charges, Loyalty penalty and rip off exit fees remain as watchdog drops market probe, Pension contributions rose during lockdown, Pound and stock markets in turmoil as Europe closes borders to UK, BLOG: The red flags investors should watch out for in closed-end funds, Everything you need to know about being furloughed. It provides financial information, as well as investment tools. Interactive Investor bought the Alliance Trust Savings platform at a discount price in October. Interactive Investor's determination to take the DIY investing fight to the UK's leading platform Hargreaves Lansdown was signalled again today. It allows investors to hold funds, investment trusts, shares, ETFs and corporate bonds, for a flat monthly fee of £5 - so £60 per year. Share Plc (LON:SHRE) have agreed a £62 million takeover deal with Interactive Investor, as was confirmed this morning. How to invest for high income and avoid dividend traps, How to find shares with dividends that can grow: Troy Income and Growth manager, Blue Whale manager: 'We want companies that grow whatever happens', How biotechnology investors can profit from an ageing population and the future of medicine. 86 Tracks. Britain's Most Expensive Houses follows a millionaire first-time buyer and Londoner escaping the city, Catalytic converter car crime wave is spreading: It's already prevalent in London - but criminals are broadening target areas to other towns and cities, Cost of car insurance at lowest winter level for five years thanks to fewer claims as Britons travel less during pandemic, From the rise of QR codes to the fall of physical cash: How the pandemic shifted the way we pay and what it means for the future of payments, I've got a £1m-plus pension at 48: Is it worth paying in more now I've hit lifetime allowance limit? Better Services and keener prices for all investors off £15.6bn in personal debt in months! Assets under administration, over 300,000 customers and more at Craft to Lansdown... Investors, and customers will be able to invest in a new IPO through Interactive investors allows to. 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