Some 6,000 investors with the Scottish Investment Trust who hold around £183m of assets will be transferred free of charge to the AJ Bell Youinvest platform.
The trust has selected AJ Bell to take over the running of 6,750 Isa and dealing accounts from its savings scheme.
Scottish Investment Trust was forced to look for a new platform after Halifax Share Dealing announced it was withdrawing from the business of administering investment trust savings schemes.
After an extensive review of alternative providers, the Scottish Investment Trust chose AJ Bell's platform, according to the trust's website.
AJ Bell was chosen due to its competitive charging structure and because it offers a more flexible and comprehensive platform for investors in the trust.
James Will, chairman of the Scottish Investment Trust, said AJ Bell’s platform enables the trust to continue to communicate with its shareholders.
He said: “We see platforms, like AJ Bell Youinvest, becoming an increasingly important source of new investors in the trust and look forward to working with them in the future.”
Andy Bell, chief executive officer of AJ Bell, said that the company is pleased to have been selected by Scottish Investment Trust.
“[The new customers] will have access to a much wider range of investments should they wish to consolidate their other investments onto our platform, as well as a range of tools and apps to help them get the most out of their investments,” he added.
The Scottish Investment Trust is a self-managed trust, which manages an £850m global portfolio of equities using its own innovative contrarian investment management style.
The trust’s total dividend to shareholders hiked 40.6 per cent for the year ending 31 October, according to results published in January.
AJ Bell currently has 152,000 customers and £36bn of assets under administration.
In the first six months of the financial year, inflows at AJ Bell grew by 68 per cent to £3.6bn.
The company said its performance had been bolstered by the introduction of pension freedoms, which increased demand for self-invested personal pensions and income drawdown.
maria.espadinha@ft.com
