CHANGES TO OUR BEREAVEMENT PROCESS AND ADVISER CHARGING
We wanted to make you aware of an upcoming change to our procedures.
We know that the death of a client is a very difficult time, and we will do everything we can to make the process of dealing with the assets held on our platform as straightforward as possible. If we can assist with any queries, please call us and we will do our best to help.
Since 2016 we have ceased facilitating adviser payments on pension wrappers on notification of death. From 1 September 2025 we will cease facilitating adviser payments on all non-pension wrappers on notification of death as well.
This change brings consistency to our approach following a review we have conducted as part of our ongoing Consumer Duty programme.
We understand that maintaining access to the portfolio as part of the estate is important to advisers. Upon notification of death, we ask that you confirm that you are still acting on behalf of the estate. We can accept this notification via secure email or in writing within 30 days. We will write to the executors to confirm that you are continuing to act. This will allow you to maintain access to the portfolio (however, the ongoing advice fees facilitated by Transact will cease). If we do not receive notification, we will update our records to reflect the portfolio as being ‘non-advised’.
If you have any questions, please do not hesitate to contact your client service team.
1. Introduction
2. Transact Online (TOL) – Recent enhancements
3. Latest news on integrations
4. Changes to our bereavement process and adviser charging
5. Transact Online & Compulsory MFA
6. Advisers looking to sell and the Transact Succession Planning Service
7. Transact – BlackRock MPS update
8. A study in gifting – what now for assets that qualify for Business and Agricultural Relief?
9. Pension commencement lump sums for individuals with Enhanced or Primary Protection
10. Lifetime ISA – views of the Treasury Select Committee
11. Interest on cash
12. Transact events 2025