Equiniti will acquire Selftrade’s customer portfolio with the transfer expected to be completed in Q4 2014. Selftrade currently has approximately 130,000 stockbroking clients holding £4.2 billion in assets and Equiniti’s Investment Services division, established over 10 years ago, safeguards £17 billion of customer assets.
The Selftrade Board concluded that a smooth transfer of assets to another business would be in the best interest of its customers, as a result of a strategic review of its business. The businesses have been working together for a number of years, with Equiniti providing financial custody and settlement services and the technology platform on which Selftrade is built.
Equiniti will maintain Selftrade’s pricing structure, will ensure a continuity of service and has committed to invest in a new platform that will be developed in line with customer feedback.