Investment manager Abrdn has confirmed plans to buy direct to consumer financial platform Interactive Investor for £1.49bn.

Aegon’s UK adviser platform has reduced its outflows to £53m for the third quarter - down 87% from the same quarter last year when it saw £420m in outflows.

Advised net flows reported a quarter-on-quarter decrease of 20.78% in the third quarter, according to a new report.

Asset manager Abrdn and consumer investment platform Interactive Investor have today both confirmed that talks are taking place which could see Abrdn acquiring Interactive Investor (ii) for £1.5bn.