Alliance Trust (LON:ATST) has beefed up its pension and ISA subsidiary with the acquisition of Stocktrade.
Alliance Trust Savings (ATS) bought the share trading platform from Brewin Dolphin for £14mln.
Stocktrade provide pensions, corporate ISAs and company share schemes and has a client base of 48,000 with assets of more than £4.6bn.
Alliance Trust chief executive Katherine Garrett-Cox said: "Our strategy for ATS is to grow the business organically, but when appropriate acquisition opportunities present themselves that fit with our stringent criteria then these will be assessed.
“The acquisition by ATS of Stocktrade is an example of us putting this strategy into action and pursuing our ambitious growth targets."
ATS was one of the divisions criticised by Elliott Advisers in a public row that culminated in two directors nominated by the US hedge fund joining the investment trust’s board last month.
Elliott wanted the new director to arrest what it called underperformance issues, particularly relating to subsidiaries of Alliance Trust.