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450 IFA firms registered for Transact tools

Portfolio consolidator Transact has passed the £100m sales mark just 11 months after its launch into the UK market.

The trading platform, which earlier this year formed a strategic alliance with the AITC, now boasts more than 300 firms of advisers on board, with a further 150 registered to begin using the service in the near future.

Business has been taken across 529 different unit trusts and 213 Oeics from 99 separate providers. A total of 359 different investment trust shares were sold from 85 fund managers – as well as a further 352 direct equities.

The news comes as Transact gears up for the launch of AssetMemo, a new tool which will allow IFAs and their clients to define and track assets not typically included in Transact portfolios, such as withprofit bonds, life contracts or property.

Transact also plans to launch a further tool, entitled PortfolioMastery. This will allow IFAs to create master portfolios which can be used for large numbers of underlying clients.

Transact general manager Ian Taylor says: “Transact users are a broad church, including private client portfolio managers, directly regulated advisers and planners, network members and nationals. What they all have in common is a desire to provide first-class wealth management services for clients and to make themselves and their clients more wealthy in doing so.”


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Aberdeen gets steamed up with Thomas the Tank Engine

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