Transact

Transact has reported record pre-tax profits for 2014 as it gains 10,000 new clients.

The potential sales of Transact and Seven Investment Management (7IM), as well as increased scrutiny from the regulator, have prompted advisers to start probing platforms on their exit strategies.

Carbon Financial Partners took home the inaugural Adviser Firm of the Year (UK) trophy at the 2015 Professional Adviser Awards, which recognises excellence across adviser firms, providers, platforms and asset managers.

Transact is to cut platform fees for client portfolios of between £180,000 and £300,000 in an attempt to attract new business.

Transact has stated its intention to float following its failure to secure a buyer last year.

The private equity firms eyeing wrap provider Transact have withdrawn their approaches, Professional Adviser's sister title Investment Week understands.

The Financial Ombudsman Service (FOS) has directed a complainant to his former adviser after ruling a charge levied on his investment by his platform was "fair and reasonable".

Transact and Ageas Protect have teamed up to launch an investment-linked life cover policy available via Transact's platform.

The regulator is set to meet members of the Tax Incentivised Savings Association (TISA) to discuss re-registration rules, with the trade body reiterating to platforms best practice guidelines when dealing with super clean share classes after issues arose...

Transact has appointed Goldman Sachs to broker a full sale of the business, with senior staff open to an exit if a takeover is agreed, Professional Adviser's sister title Investment Week understands.