Alliance Trust to acquire new stockbroking business from Brewin Dolphin
Alliance Trust Savings (ATS) has announced the acquisition of Brewin Dolphin stockbroking business Stocktrade, which will help the group grow and increase the number of customers.
Alliance Trust Savings (ATS) – which offers a wide range of sustainable investment options – is acquiring the execution-only stockbroking business Stocktrade for £14 million, a move that is expected to bring the company 48,000 new customers and £4.6 billion in additional assets under administration.
Patrick Mill, managing director of ATS, said, “Stocktrade is a great strategic fit for ATS, giving us access to new customers, an increase in assets and the opportunity to build a strategic partnership capability. It also gives us the ability to align a traditional stockbroking business with our innovative, scalable and cost-effective approach by offering customers online access alongside our in-house customer service team.
“Our priority now is to focus on driving growth organically and profitably through the three channels, direct, intermediaries and strategic partnerships.”
Katherine Garrett-Cox, chief executive of the Alliance Trust added, “As set out in our vision 2020, our objective is to become the UK’s most trusted investment and savings business. Over the last couple of months we have received a lot of valuable feedback from our shareholders. We are currently analysing that feedback and we will update shareholders further at our interim results in July.”
ATS charges all clients the same fee and manages £6.5 billion of assets, on behalf of over 70,000 investors and advisers.
Photo: Ken Tegardin via Freeimages
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