Octopus Money has bought Virgin Money’s investment business for an undisclosed sum, adding 150,000 customers.
Octopus Money said this will strengthen its position as the only direct-to-consumer investing platform in the UK to combine digital access to investments with human-led financial planning.
Virgin Money’s investment customers will continue to be supported by their existing teams, with no changes to their service.
Following the deal, Virgin Money will rebrand to Octopus Money.
Ruth Handcock, chief executive at Octopus Money, said: “Our investment platform has always been closely tied to our mission — helping people feel confident they’ll have enough to live the future they want.
“Customers love being able to talk to a friendly expert, build a long-term plan and manage their investments all in one place.”
Handcock said the firm is thrilled to be expanding this part of the business.
“Together, we’ll reach even more people with high-quality advice and straightforward, affordable investing — powered by smart technology and a human touch,” she added.
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