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AITC shelves supermartto link with Transact

The AITC has confirmed it is shelving plans to develop its own fund supermarket and will endorse the consolidated portfolio management service Transact.

The Transact service is designed exclusively for IFAs and acts as a back office for the adviser. Oeics, unit trusts, investment trusts, Peps, Isas and personal pensions can be transacted through the service online, by phone or post.

The deal, revealed exclusively in Money Marketing in September, will take effect immediately with the launch of several joint marketing initiatives to follow.

The service offers IFAs initial commission on all transactions as well as annual commission on all assets in the portfolio.

Transact was launched in the UK in March and currently has 44 registered IFAs. In return for Transact&#39s active promotion of investment trusts to clients, the AITC will promote the platform at its roadshows and will include details of the service in its regular newsletters.

AITC director general Daniel Godfrey says: “There was no need to develop our own product. We have a strategic objective to ensure IFAs have the opportunity to buy investment trusts on an even level to other investment products. There was no need to go for the extra cost and regulatory complications. No money has changed hands in this deal.”

Scottish Life&#39s pension guru Steve Bee is hitting the road again with CP61 Revisited, a national pension conference tour geared towards IFAs.

Bob Dylan fan Bee appears on a rock-tour-styleposter styled on the cover of Dylan&#39s famous album Highway 61 Revisited.

Head of pensions strategy Bee and business development manager Paul Goodwin will focus on how the new pension market will affect employers and the sales opportunities for IFAs.

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