Industry reaction: abrdn and interactive investor deal 'a bold move'

The industry has reacted positively to the acquisition, which has been in the making since November

The move by abrdn to acquire subscription-only investment platform, interactive investor, has been dubbed a "bold move" by the industry.

The deal will see abrdn acquire 100% of the platform, including the majority stake currently held by JC Flowers IV LLP.  "It is an interesting move by abrdn, especially as they recently sold one of their other platforms, Parmenion, though obviously that was in the adviser space," said Ben Yearsley, director at Fairview Investing. "All fund groups want distribution for their products, this is one route - it will be interesting to see how open architecture the platform remains though." He added: "Fidelity have done it reasonably successfully with FundsNetwork and there is not an overt p...