abrdn has wrapped up its previously announced acquisition of subscription-based investment platform interactive investor (ii).

The $2bn deal, which is expected to bolster Abrdn’s Personal vector, was first announced in December 2021.

The acquisition is expected to spur growth opportunities for the British asset manager within the UK’s rapidly evolving direct investing market.

Furthermore, ii’s model is said to expand abrdn’s current personal wealth offerings, including self-directed investing through, high-touch financial planning and discretionary investment management among other things.

abrdn chief executive Stephen Bird said: “ii’s high-tech direct investing service is the perfect complement to the high-touch wealth and financial planning capabilities we already offer.

“As a leading player in a fast-growing market, with a scalable technology platform and a distinctive subscription-based model, the acquisition of ii will also diversify and grow our revenues.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We would like to welcome Richard and the team to abrdn and look forward to working together to build the best savings and wealth offer in the market for our customers.”

ii will continue to operate as a standalone business and independent brand using its existing technology platform.

The firm will remain firmly whole of market with all fund managers, including abrdn, obliged to earn their place on its rated investments.

Commenting on the deal, ii CEO Richard Wilson said: “Today we join a company with a deep financial services history, and with a shared vision for the future. The opportunities that come with joining the abrdn family are significant. We will be working with abrdn’s talented team to harness their advice, wealth management and research capabilities for the benefit of our customers.”

Recently, abrdn introduced a Junior ISA to its suite of family wealth planning offerings on the Wrap platform.