Transact reduces charges after increase in profits

The changes to its charging structure will be phased in over the next 12 months. These include the maximum annual commission charged on investments reducing from 0.6% to 0.55% from 1 January 2011 and a further reduction to 0.5% from 1 January 2012. "This is all part of our policy of 'client profit share', where we are committed to sharing our success with users as we grow and improve our service," says head of marketing Malcolm Murray (pictured). Existing discount rates for larger portfolios will continue to apply to the new lower charges. The change affects both new and existing c...