Interactive Investor, one of the UK’s largest execution-only stockbrokers – and, coincidentally, the winner of last night’s platform award at the prestigious City of London Wealth Management Awards ceremony – has announced an expansion of its business to include partnership services.
Whilst well known for its D2C or DIY investing proposition, the company says it will now be partnering with other companies who want to offer XO share dealing and fund investing to their clients (a “B2B2C” service). The result should be that Interactive Investor leverages its existing trading infrastructure to provide cost-effective share dealing and fund investment facilities for partner companies’ clients.
Huw Thompson, Head of Partnerships at Interactive Investor said:
“Our new service has attracted interest from a range of businesses, including wealth managers, private client brokers and retail service providers. Our platform is highly flexible and efficient, and enables our partners to tailor their service, while relying on a ready-built trading system.”
He added: “Now is an opportune time to launch this service, as many firms are exploring the ongoing opportunities that the Retail Distribution Review is bringing.”
Interactive Investor’s first partnership, which launched this week, is with FE Trustnet, whose Trustnet Direct investment platform (www.trustnetdirect.com) provides clients with a share dealing and fund investing service using the Interactive Investor transactional infrastructure.
The COLWM award follows a string of recent successes. In October 2013, Interactive Investor was named Best Consumer Platform at the prestigious Aberdeen UK Platform Awards, which is voted for by consumers. In January 2013, The Platforum had rated Interactive Investor as second overall in their road test of the UK's major investment platforms, and first for quality of content and cost.
And in May 2012, Which? Magazine's review of fund supermarkets had ranked Interactive Investor in first place out of the 23 platforms reviewed, whilst Candid Money (www.candidmoney.com) has also rated Interactive Investor as providing the best value service for SIPP and ISA investors who hold managed funds.
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