Transact has lowered the threshold at which clients move to a lower pricing tier from £150,000 to £120,000.
The changes will be introduced from 1 April, and was first announced in October.
The platform will also reduce its annual commission charge from 0.31 per cent to 0.3 per cent for portfolios of between £60,000 and £120,000. The charge reduction will also apply to portfolios of between £120,000 and £600,000.
Transact says the changes will benefit more than 95,000 customers. Clients and their immediate family can also apply to link portfolios in create a group accounts which are eligible for lower charges.
Transact managing director Ian Taylor says: “It is part of our process that we call ‘sustainable pricing’, which is effectively sharing part of our profits with our clients which we can afford to do without it harming our ability to deliver the best service we can.”
Taylor says the change will be applied to both existing and new customers.
Transact’s new charges
|Single or consolidated Portfolio(s) up to £120k|
|£0 – £60,000||0.50%||0.45%|
|> £60,000 – £120,000||0.30%||0.29%|
|Single or consolidated Portfolio(s) over £120k|
|£0 – £600,000||0.30%||0.29%|
|> £600,000 – £1,200,000||0.20%||0.18%|
|On the remainder||0.075%||0.0675%|