Interactive Investor, the UK’s second-largest fund supermarket, is exploring an initial public offering in London this year on the back of a boom in the retail investing.

The group has been driving consolidation in the wealth management sector with a series of acquisitions, most recently this month buying a direct-to-consumer investment platform from rival Equiniti for £48.5m.

Interactive Investor now accounts for about a fifth of the retail investment platform market, but is the only big competitor not to be listed. Larger rival Hargreaves Lansdown is valued at about £7.4bn. AJ Bell, which floated in 2018, also has a substantial retail investment business.

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Source: Financial Times

By Daniel Thomas and Madison Darbyshire