Aberdeen takeover of Interactive Investor

digannio

I was one of the Share Centre customers who had their monthly fees double at a stroke to £9.99 when II bought them out so I'll be watching to see what this brings so soon after that takeover. My plan was to move to Iweb but was put off by the stories of chaos and delays in transfers to them. The options do seem to be narrowing for fixed price customers.

Albermarle

digannio said:

I was one of the Share Centre customers who had their monthly fees double at a stroke to £9.99 when II bought them out so I'll be watching to see what this brings so soon after that takeover. My plan was to move to Iweb but was put off by the stories of chaos and delays in transfers to them. The options do seem to be narrowing for fixed price customers.

The ultimate aim of all companies ( or most anyway ) is to eliminate competition one way or the other, and get prices/profits up.

Thrugelmir

Albermarle said:

digannio said:

I was one of the Share Centre customers who had their monthly fees double at a stroke to £9.99 when II bought them out so I'll be watching to see what this brings so soon after that takeover. My plan was to move to Iweb but was put off by the stories of chaos and delays in transfers to them. The options do seem to be narrowing for fixed price customers.

The ultimate aim of all companies ( or most anyway ) is to eliminate competition one way or the other, and get prices/profits up.

Amazon's retail division eliminates the competition and still struggles to be profitable. 

OldBill

[Deleted User] said:

Hi,

oh dear, good or bad for folks with II.

Remember when I switched from HL to II, transfer took ages, it was a mess for months.

18 weeks for me to transfer from Vanguard to ii.

A pain.

itm2

OldBill said:

[Deleted User] said:

Hi,

oh dear, good or bad for folks with II.

Remember when I switched from HL to II, transfer took ages, it was a mess for months.

18 weeks for me to transfer from Vanguard to ii.

A pain.

Yes similar situation for me when I moved from AJ Bell to II. That's why I moaned to the regulator about the 30-day notice period being completely inadequate.

Alexland

Looks like the deal is going ahead and Abrdn will keep the II brand and subscription pricing model

https://portfolio-adviser.com/abrdn-inks-1-5bn-deal-to-acquire-interactive-investor/

https://www.ii.co.uk/abrdn

older_and_no_wiser

Alexland said:

Looks like the deal is going ahead and Abrdn will keep the II brand and subscription pricing model

https://portfolio-adviser.com/abrdn-inks-1-5bn-deal-to-acquire-interactive-investor/

https://www.ii.co.uk/abrdn

That's good news:

• Pricing will remain the same. We are committed to our transparent, fixed fee subscription pricing.

eskbanker

Alexland said:

Looks like the deal is going ahead and Abrdn will keep the II brand and subscription pricing model

https://portfolio-adviser.com/abrdn-inks-1-5bn-deal-to-acquire-interactive-investor/

https://www.ii.co.uk/abrdn

Yes, confirmation of the deal emailed out to customers:

I am writing to you to make you aware that, following extensive discussions, and subject to the necessary approvals, interactive investor will become part of the abrdn group.

ii will remain the UK’s leading flat-fee platform, offering subscription pricing and a whole-of-market investment choice, only now with access to abrdn’s additional capabilities across research, advice and wealth management services.

We will also obviously benefit from being part of one of Europe’s largest investment and wealth management firms, with a 200-year history and a vision and values closely aligned to our own. I would like to highlight the following: 

• ii will continue to operate as interactive investor (ii), as part of the abrdn group. 

• ii pricing will remain the same. We are committed to our transparent, fixed fee subscription pricing.

• ii is a vibrant, growing business and Richard Wilson will continue to lead the company. 

• Both abrdn and ii remain individual regulated entities. This means customers of both companies will retain full FSCS protection for each.

• Our award-winning news and analysis is here to stay. We remain impartial and editorially independent.

This is the beginning of an exciting new chapter for interactive investor and I look forward to being able to serve your investment needs long into the future, bringing the best value, choice, transparency and service that you rightfully expect.

Thank you for investing with interactive investor.

Richard Wilson

Chief Executive Officer

interactive investor

Alexland

older_and_no_wiser said:

• Pricing will remain the same.
  

That's a shame as if they made it a bit more attractive I would be tempted.

I guess it works for people holding funds.

older_and_no_wiser

Alexland said:

older_and_no_wiser said:

• Pricing will remain the same.
  

That's a shame as if they made it a bit more attractive I would be tempted.

I guess it works for people holding funds.

Yes, it's a great deal of ongoing cost saving for those who've built up a large portfolio.