Interactive Investor (II), a UK-based online investment platform, has acquires Trustnet Direct’s investment platform business for an undisclosed sum.
Interactive Investor currently offers white label services to Trustnet Direct, which is owned by funds and market data platform FE.
Interactive Investor has also entered into an agreement with other white label partners including Telegraph Investor, The Motley Fool and SharePrice. These firms will continue to operate under II’s brand.
This acquisition adds to Interactive Investor’s purchase of TD Direct Investing in June 2017.
FE commercial director Matthew Surfleet said: “We are proud to have provided the underlying custody and investment service for so many successful partners, but as we increase our range of services and our customer base grows, this is the right time to put the II brand at the forefront of our business.”
Interactive Investor CEO Richard Wilson said: “We have made significant progress towards our ambition to become the retail platform of choice for engaged investors, with best-in-class research, tools and support, low-cost flat fees and excellent customer service.”