Transact cuts prices as 'salami slicing' continues

The platform's new charging structure, which it said would result in three-quarters of existing clients paying less and come into effect on 1 April 2018, will see both cash and investment holdings given the same annual commission charges, while the annual commission for all portfolios worth more than £60,000 will be reduced. Transact said it would make sure clients do not pay more as a result of the changes, because every month it will calculate the annual commission charge using the current and new basis, and have clients pay the lesser of the two. The platform is also lowering its d...