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Transact pledges to meet post-polarisation needs

IFA portfolio consolidation service Transact is aiming to reassure IFAs that it will cater for them in a depolarised world, whatever their status.

In a newsletter to its IFA clients, Transact says it will provide “the best of both worlds, whether the adviser decides to remain independent or opts to become a distributor”. The newsletter enc- ourages IFAs to think about a depolarised market now, warning IFAs that the FSA&#39s proposals are unlikely to change in the consultation.

For IFAs which choose to retain their independent status, Transact says it can accommodate the FSA&#39s fee-based defined-payment system.

For those which choose the distributor route, Transact says advisers can tie to its platform, giving it access to every unit trust, Oeic, investment trust and London-listed share on the market.

Commenting on the FSA&#39s polarisation paper CP121, the newsletter says: “Although it is called a consultation paper there seems to be a general belief that the substance of the proposals is unlikely to change with the consultation revolving around the details of implementation.

“As usual, the devil will be in the detail but, whatever the outcome of CP121, you can be sure that Transact will be there to ameliorate the effects of yet another major upheaval for IFAs.”

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