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Transact eyes further stakes in tech firms

Transact is considering taking more stakes in software companies after the platform acquired a 15 per cent interest in Sprint Enterprise.

The deal, announced in May, saw the firm’s chief development officer Jonathan Gunby join the board of Sprint.

Chief executive Ian Taylor says Transact is contemplating taking stakes in other software companies. He says: “If we come across companies that we think are interesting, we will have a look at them. Often we think early involvement and co-operation works to everyone’s advantage.

“There are other parts of the industry and of the process of providing support to financial advisers which we do not do directly but where closer interaction and integration with software companies makes things smoother for platforms, software firms and our clients and advisers.”

Sprint provides software called Fastrak, which is designed to aggregate data from advisers’ back-office systems and platforms to produce enhanced reporting and portfolio analysis capabilities.

It can source data from AscentricCofundsFidelity FundsNetworkNoviaNucleus, 7IM, Skandia, Pershing and Transact.

Sanlam Private Investments recently agreed a contract to use Fastrak across its network of advisers.



PRA warns on margin squeeze on insurers post-Budget

The Prudential Regulation Authority has warned insurers risk being exposed to “unexpected or poorly understood risks” as margins are squeezed and new products are launched in the wake of the Budget. The Budget reforms, announced in March, will mean anyone aged 55 or over will be able to take their entire pension pot as cash. […]


Aviva pays out 93% of IP claims

Aviva paid out on 92.8 per cent of income protection claims in 2013, latest figures reveal. The insurer paid an average of £35,342 in IP claims per day, with a total payout of £12.9m in the year. The most common reason for claim was mental health conditions, accounting for 31 per cent of all claims. Musculoskeletal […]


Will the UK be able to protect the City from Europe?

He still has to be rubber stamped by the European Parliament later this month, but former Luxembourg president Jean-Claude Juncker looks set to lead the European Commission for at least the next five years. Much ink has been spilled over what this means for the UK’s efforts to reform the European Union. As a federalist, […]

Help, I’ve been appointed as a trustee. What are my responsibilities?

Graeme Robb, Technical Manager at Prudential looks at the key duties and responsibilities of a trustee.  This article will consider the following: Duties to be performed on appointment Investment duties Protecting the interests of beneficiaries Keeping accounts and records Distributing property to beneficiaries Duties to be performed on appointment Obtain a copy of the trust […]


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