A price promise for Share Centre customers
interactive investor makes a promise to Share Centre customers ahead of migration.
15th September 2020 12:07
by Jemma Jackson from interactive investor
Share on
Following the acquisition of The Share Centre in July, interactive investor makes a promise to Share Centre customers ahead of migration.
Following the completion of interactive investor’s acquisition of The Share Centre in July 2020, interactive investor, the UK’s second largest direct to consumer investment platform, has made a price promise to The Share Centre customers ahead of migration. Terms apply.
Customers of The Share Centre will be asked for consent to move their accounts over to the award-winning interactive investor platform, where they will have a choice of three service plans to suit their needs – all for a fair, flat fee so customers can keep more of their wealth as it grows.
Richard Wilson, chief executive of interactive investor, says: “We are proud of our fair, flat fees and Netflix-style pricing model, introduced in 2019, which gives customers the opportunity to choose a price plan that best suits their needs. We brought in free regular investing at the start of the year and are now following this up by scrapping a raft of administration fees, which will particularly benefit our SIPP customers.
“It won’t be the end of the story. We are constantly looking to provide better value for investors, and that means continually re-evaluating and evolving our pricing structure to reflect customers’ desire for simplicity and value. These are both crucial in our mission to help people take control of their financial future.
“But everyone’s circumstances are different. If, six months from migration, interactive investor finds that customers who consented to migrate would have paid less under The Share Centre’s standard charging model, we will refund the difference within 60 days.”
No SIPP fee until at least March 2022
In addition, if Share Centre customers open a Self-Invested Personal Pension (SIPP) with ii after they move across to interactive investor, they will pay no SIPP fee until at least March 2022. Terms apply.
The coming together of the two platforms will create further scale and the opportunity to deliver value, choice, service and customer experience to an enlarged customer base.
interactive investor is asking for Share Centre customers to give their consent to move over to interactive investor by 16 November 2020, ahead of migration in early 2021.
The Share Centre will contact SIPP customers at a later date about migration and are currently in touch with the relevant trustees.
These articles are provided for information purposes only. Occasionally, an opinion about whether to buy or sell a specific investment may be provided by third parties. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
Full performance can be found on the company or index summary page on the interactive investor website. Simply click on the company's or index name highlighted in the article.