Transact cuts prices as 'salami slicing' continues

'75% of clients to pay less'

Tom Ellis
clock • 3 min read

Transact has cut its prices for what the adviser platform has said is the eleventh time since 2008.

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...

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

Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read
Aviva named the preferred platform provider by advisers

Aviva named the preferred platform provider by advisers

Quilter remains in second place followed by AJ Bell and Transact

Isabel Baxter
clock 04 March 2024 • 1 min read