Abrdn close to £1.5 billion Interactive deal as market for small investor hots up

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Confirmation can come today on acquisition

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brdn is set to secure a £1.5bn acquisition of Interactive Investor, a deal that will give the giant fund manager better access to the smaller stock picking market.

Confirmation of the acquisition is likely at some point today.

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The deal is another indication of how intense competition is to entice smaller investors, who are either playing the market for the first time, or want to manage an already established portfolio.

Interactive, founded in 1995, was plotting its own stock market listing, but would instead seek shelter inside Abadron, which has overseas assets of around £530 billion.

It is believed that CEO Richard Wilson will remain in charge, reporting at Abdron boss Stephen Bird.

Interactive has 400,000 clients, placing it only behind Hargreaves Lansdowne and slightly ahead of rapidly growing AJ Bell.

Aberdeen, formerly Standard Life Aberdeen, has its roots in 1825. It has faced some criticism for its new name.

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