Link generations and reduce costs with Transact
Transact has cut its prices for the 19th time in 18 years by extending our family linking policy to accept linking requests for siblings, partners of siblings, and nieces and nephews.
This pricing update is part of our commitment to responsible pricing and follows feedback from advisers for more support around intergenerational planning. The important change makes our family linking policy clearer and gives greater flexibility when advising families.
Benefits of family linking
Potential reductions in platform costs for clients
Makes access to advice more viable for clients with less money
Focuses client conversations on the importance of intergenerational wealth planning
Can be used to help nurture client relationships for the long term
Boosts client retention as wealth passes between generations
Why it matters
Set against a backdrop of complex family structures, an ageing society, changes to the treatment of defined contribution pensions for IHT purposes, care costs and the cost-of-living crisis, the importance of estate planning remains vital to efficiently transfer wealth between generations. Making these changes means that more clients can benefit from family linking, supporting intergenerational wealth management.
Mrs Miggins | Mr Miggins | Mr Miggins' brother | Mr Miggins' sister-in-law | Mr Miggins' niece | Mr Miggins' nephew | |
|---|---|---|---|---|---|---|
Investment value | £1,200,000 | £1,200,000 | £600,000 | £200,000 | £60,000 | £60,000 |
Linked investment value | £3,320,000 | |||||
Charges without family linking | ||||||
Charge rate | 0.22% | 0.22% | 0.26% | 0.26% | 0.50% | 0.50% |
Annual charge | £2,580 | £2,580 | £1,560 | £520 | £300 | £300 |
Total annual charge | £7,840 | |||||
Charges with family linking | ||||||
Charge rate | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% |
Annual charge | £1,469 | £1,469 | £734 | £245 | £73 | £73 |
Total annual charge | £4,063 | |||||
Savings with family linking | ||||||
Total linked portfolio value of £3,320,000 is used to calculate an equivalent family charge rate. | ||||||
Saving for individual (£) | £1,111 | £1,111 | £826 | £275 | £227 | £227 |
Saving for individual (%) | 43% | 43% | 53% | 53% | 76% | 76% |
Saving for family (£) | £3,777 | |||||
Saving for family (%) | 48% | |||||
The home of intergenerational wealth planning
The Transact platform is designed with intergenerational wealth planning at its core. Alongside family linking we provide access to the full suite of tax wrappers, including Junior ISA, Junior pensions, Offshore and Onshore Bonds and a wide range of trusts – vital tools in any advisers’ kit bag. This is accompanied by unrivalled accessible technical support whenever you need it, promoting good outcomes for your clients.
Want to know more?
Find out how to family link your clients in the video below. For further information please speak to your Transact Business Development Manager or review our Adviser User Guide.
