Head of marketing Malcolm Murray says in an adviser update: “Price is only one consideration in choosing a platform. We have recent examples of clients who left the Transact platform for what they perceived to be a less expensive alternative who have now asked if they can return. Other requests have been instigated by an adviser who discovered that not only was the alternative not cheaper as promised but it also failed to provide the breadth of functionality that had been enjoyed on Transact.”
In December, Transact head of marketing Malcolm Murray hit out at Skandia’s marketing of changes to its pricing which used a £50,000 portfolio, which he said was “conveniently” below the level at which Transact’s discounts apply.
Skandia head of proposition marketing Peter Jordan says: “We have just had our second-best March, with 53,000 online transactions.”