Tech review: Transact

We have reviewed many of the wraps in the market, but none to date have come close, in terms of Assets under Administration (AUA) to the fund supermarkets. The largest wrap to date that we have reviewed was Standard Life, with about £6bn AUA, whereas Cofunds had £28bn AUA and Skandia £32bn AUA. This week I spoke to Malcolm Murray, marketing director at Transact – the largest of the pure wrap players – to see how the platform is shaping up. Transact is the oldest of the wrap platforms being the first to launch a wrap service in the UK, back in 2000. Transact used technology and systems...