Interactive Investor squares up to Hargreaves Lansdown as it buys TD Direct, to make it the UK's second biggest DIY investing platform
Interactive Investor has bought TD Direct Investing, creating the UK's second biggest online DIY investing platform group.
It will have £18 billion of assets under administration and 300,000 customers, meaning only Hargreaves Lansdown has more clout in the UK among DIY investors.
There will be no immediate changes for investors on either platform, a statement said yesterday.
The deal is likely signal a further push for investors' cash from the new investing giant, as it is backed by venture capital firm JC Flowers, which will hold a majority stake in the new company.
It could eventually... read more
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