Transact cuts charges on mid-level portfolios

clock

Transact is reducing charges on median-sized portfolios by removing a number of price bands for clients with assets of up to £600,000.

The platform is to extend its 33bps charging band, which currently applies to accounts between £300,000 and £600,000, to all accounts between £60,000 and £600,000. It will replace a 43bps tier on portfolios between £60,000 and £180,000, and a 38bps charge between £180,000 and £300,000. On the next £600,000 the rate will be 20bps, with 8bps on the remaining balance. A 50bps charge on investments below the £60,000 threshold will remain in place. Cash rates will also be cut: 45bps on amounts below £60,000; 29bps between £60,000 and £600,000; 18bps on the next £600,000; and 7bps on ...

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

Platform due diligence: A comprehensive approach

Platform due diligence: A comprehensive approach

Due diligence is more than best practice it is ‘fundamental'

Stephen Ford
clock 18 November 2024 • 4 min read
Adviser platform net sales hit £3.1bn despite spike in lump sum withdrawals

Adviser platform net sales hit £3.1bn despite spike in lump sum withdrawals

Assets rose to £683bn in best third quarter in three years

Isabel Baxter
clock 15 November 2024 • 4 min read
Schroders UK Platform Awards 2024: Full list of winners revealed!

Schroders UK Platform Awards 2024: Full list of winners revealed!

See who took home a trophy at last night’s ceremony in London

Professional Adviser
clock 25 September 2024 • 1 min read