Transact cuts annual and switch charges

clock •

Transact has cut its annual and switch charges and applied a new single rate for users.

The changes, part of its client profit share policy, are effective from today (March 1), and Transact says the cuts have come about after a successful financial year. The wrap made £14m in profits last year. In terms of transaction commissions, the charge when cash is first used to buy an asset has been reduced from 0.5% to 0.2%. Because the new rate is equal to its switch commission, the distinction between the two has been removed. The new single rate, Transact Buy Commission, applies to all purchase transactions. This rate is reduced by way of rebate to 0.1% for portfolios whose av...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

AJ Bell signs up to The Platforms Association's transfer charter

AJ Bell signs up to The Platforms Association's transfer charter

After being missed off TPA’s initial list

Sophia Panayi
clock 28 September 2026 • 1 min read
Big players give The Platforms Association's transfer charter a miss

Big players give The Platforms Association's transfer charter a miss

AJ Bell and Parmenion choose not to sign up

Sophia Panayi
clock 25 September 2026 • 2 min read
Most platforms sign up to transfer charter

Most platforms sign up to transfer charter

Signatories include Benchmark, Fidelity International and Quilter

Sophia Panayi
clock 17 September 2026 • 3 min read