The Share Centre, an investment intermediary, was acquired by Interactive Investor in July last year. However the business did not offer Lifetime ISAs and has been seeking a provider to take on this area of the business.

The Share Centre has already transferred 83,000 child trust fund customers to One Family, now it is doing the same with its Lifetime ISAs, many of which are used to help potential first-time buyers with their mortgage deposit.

OneFamily’s stocks and shares-based Lifetime ISA invests in forward-thinking climate-friendly companies that are committed to reducing their impact on the environment

Paul Bridgwater, OneFamily’s head of investments said: “We’re pleased to have been chosen by interactive investor as the new home for The Share Centre’s Lifetime ISAs in the industry’s first ever bulk transfer of lifetime ISA accounts.

“We’ve a strong heritage of partnering with other organisations to support investment propositions and are always looking for opportunities to help partners in this area.

“As we welcome our new customers, we’re going to let them know that we’re here to support them as they plan for their futures – whether that’s in saving for their first home or for their retirement.  T

“The added bonus in switching to OneFamily is that as they continue to build up their savings with us, they are also going to be looking after the planet.”

Richard Wilson, CEO of interactive investor, said, ““We believe we have found a good home for Share Centre LISA accounts, and customers will be best served by a specialist provider. Those who want to transfer to a different provider can do so without penalty.

“The transfer will allow us to continue to focus on enhancing our core offerings. We remain concentrated on building a best-in-class customer experience, that is unrivalled in value and a trusted source of impartial information.”