Integrated Financial Arrangements, which offers Transact, a consolidated investment service for IFAs...
Integrated Financial Arrangements, which offers Transact, a consolidated investment service for IFAs, has launched a personal pension plan wrapper, writes Kira Nickerson.
Transact provides IFAs with the ability to build complete client portfolios through one centralised trading and wrapper system. Intermediaries can use any unit trust, Oeic, or London-listed equity including investment trusts within the personal pension. A combination of underlying investments could also be used. Transact charges by trade rather than for the wrapper itself, with 0.5% charged for the initial purchase of the underlying fund and 0.6%pa.
There is still a charge on the underlying investments, however IntegraFin has negotiated no initial charges on 200 funds and lower up front charges and annual management fees on all funds that are available. Commission on the products is still passed onto the intermediary, available in a stepped arrangement of between 0.5% and 3.5% and trail of 0.55% and 1%.
The personal pension is the group's first pension offering as it already features a general investment account for direct holdings, a maxi Isa, and a Pep consolidation service.
The contract is done via Criterion Life, although IntegraFin takes care of administration. It features waiver of premium for both regular and single contribution plans but life cover has to be purchased separately.
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Investment trust savings scheme