View more on these topics

Transact to roll out lower charges threshold

Ian-Taylor-2012-700x450.jpg

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
Investments Cash
£0 – £60,000 0.50% 0.45%
> £60,000 – £120,000 0.30% 0.29%
Single or consolidated Portfolio(s) over £120k
Investments Cash
£0 – £600,000 0.30% 0.29%
> £600,000 – £1,200,000 0.20% 0.18%
On the remainder 0.075% 0.0675%

Recommended

Transact eyes 2018 IPO

Transact has earmarked the first half of 2018 for a stock market listing, according to a shareholder letter. The letter, sent in December to shareholders of Transact’s parent IntegraFin Holdings, says the business worked with its corporate adviser Evercore throughout 2016 towards an initial public offering. Early in 2015 Transact said it was considering an initial public offering with chief executive […]

Hargreaves and Transact scoop top gongs at Platforum awards

Hargreaves Lansdown and Transact have scooped the top prizes at the 2016 Platforum Awards. Based on over 10,000 financial adviser reviews, Transact came out on top as the best adviser platform over £10bn, the third year in a row it has won the award. Platforum research director Heather Hopkins says Transact’s success has been largely down […]

Stockmarket-Performance-Business-700x450.jpg

Transact cuts annual charges and threshold

Transact has further cut its charges and reduced the threshold for the level of assets that incur a 0.5 per cent charge. By April, the investment platform will lower its charging threshold for clients being charged 0.5 per cent to £120,000 from £150,000. This was already reduced from £180,000 to £150,000 at the end of 2015. […]

Europe: Volatile share prices create opportunities for long-term investors

Mark Page and Laurent Millet, managers of the Artemis European Opportunities Fund, look at why, how and where fluctuations in European markets can generate opportunities for their fund. When asked what the stock market would do next, John Pierpont Morgan is reported to have replied that “it will fluctuate”. His (apocryphal) answer proved accurate. Over […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. John Blackmore 6th March 2017 at 2:00 pm

    Am I alone or does anyone else think that £1800 pa £600,000 portfolio) for a platform service is still too high?

  2. @ John. Agreed. Look at the Share Centre.
    Anyway I would guess this is just the start. The Aberdeen/Std Life deal will bring costs down and therefore put pressure on the rest.
    (BTW I do hope the merged group find a new name because there is no life in Standard. They ditched their life products ages ago)

    • Harry, that’s a bit like comparing an apple with a prune. One keeps the doctor away and the other can help with some conditions but in the end it will give you the s..ts

Leave a comment