View more on these topics

Transact cuts platform charges

Transact has set out plans to cut platform charges following a review of its pricing structures.

Currently, the platform charges investors with portfolios worth between £300,000 and £600,000 an annual commission of 0.325 per cent.

From 1 April the firm will reduce the start point of this tier to £180,000. For those with less than £180,000, the first £60,000 of investments will be charged at 0.5 per cent.

Transact chief executive Ian Taylor says: “2014 was another profitable year for Transact and funds under direction now exceed £17bn. We have a clear strategy and with prudent management and decision making we can pass on savings derived from our scale and specialisation in the Wrap market.

“It is also very satisfying that some of the benefits of our commitment to responsible pricing will be passed on to both new and existing customers.”

It is the second pricing change announced by Transact this year. Earlier this month, the platform revealed plans to cut its buy commission charge from 0.2 per cent to 0.05 per cent and its maximum dealing charge from £15 to £3.75 by March 2015.



Pension funds press BP and Shell over climate change policy

A group of over 150 major investors in BP, including some of the largest pension funds in the country, have filed a resolution that would force the oil giant to disclose business risks resulting from climate change. The investors, working as the Aiming for A coalition, filed a similar resolution with Shell last month. Shareholders […]


Investment advisers face £125m FSCS levy for 2015/16

Investment advisers will contribute £125m towards the 2015/16 Financial Services Compensation Scheme levy under plans outlined by the lifeboat scheme. The FSCS’ plan and budget for 2015/16 reveals investment intermediaries will pay almost half the £287m levy for the 12 month period and £13m more than in 2014/15. Life and pensions intermediaries will have to […]


Nic Cicutti: Never mind clients, how about the nightmare advisers?

Talk to almost any occupational group and you will always get a slew of amusing stories about the people they are forced to deal with on a day-to-day basis. Cabbies, for instance, will regularly tell you about stroppy and ignorant fares who – like David Mellor – seem to know the right route from A […]

Toby Strauss, Scottish Widows

Scottish Widows hires 400 staff to cope with ‘April surge’

Scottish Widows is hiring 400 extra staff to deal with the “April surge” as thousands of people prepare to take advantage of the new pension freedoms. Speaking at a Headlinemoney debate in London last night, Scottish Widows chief executive Toby Strauss says the provider is expecting up to three times the normal volume of customers […]

Sierra Leone cover image - thumbnail

White paper — Sierra Leone International Insights

Jelf Employee Benefits assesses the areas that employers should be aware of when considering operating in Sierra Leone, including healthcare access, delivery and insurance provisions. This report draws on various sources to highlight specific considerations for this emerging jewel in West Africa.


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Always good to see a reduction in charges but still find Transact far from competitive for any portfolio size.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm