Interactive Investor Withdraws from Government-Backed Investment Campaign
Interactive Investor (II), Britain's second-largest retail investment platform, has pulled out of the government-backed marketing campaign coordinated by the Investment Association. The campaign, part of Chancellor Rachel Reeves' Leeds Reforms aimed at rewiring the financial system and promoting the benefits of investing, is set to launch next year.
Originally supported by major financial institutions including Barclays, Hargreaves Lansdown, London Stock Exchange Group, NatWest, and Schroders, the campaign has seen some backers such as AJ Bell, Freetrade, and Trading212 withdraw previously. II's departure is considered a significant setback and is attributed primarily to the cost implications of participation.
Interactive Investor is owned by Aberdeen Asset Management; neither II nor Aberdeen Asset Management commented on the withdrawal. The campaign's advertising efforts are being managed by the agency M&C Saatchi.
This initiative comes at a time when reforms to cash ISAs are anticipated, including a potential reduction of the annual allowance from £20,000, with Chancellor Reeves expected to provide more details in the upcoming Budget.
