The answers to some of the questions you might have.
The information provided on this website is designed to simply whet your appetite and to give an idea of what you will be able to achieve. Not surprisingly after reading it all you will almost certainly have some questions. To help you we’ve provided answers to some of the questions we are most commonly asked.
Transact is the name of the wrap service offered by Integrated Financial Arrangements Ltd. Transact is completely independent and isn’t owned by another UK financial organisation – such as a life company or fund manager. Integrated Financial Arrangements Ltd is the company that was incorporated in 1999 to offer the Transact wrap service. It is often referred to, in an abridged form, as “Integrafin”.
The company began trading in March 2000 and has been profitable every month since June 2003. During that time, profits have grown each year and reached £17 million before tax, for the year ending September 2014. We also received an ‘Excellent’ profitability rating in the FinalytiQ Platform Profitability Report 2015. A summary of the latest Report and Accounts for Integrated Financial Arrangements Ltd is available on request. For a full copy of the latest Report & Accounts and a document called “Financial Strength and Security – Client Asset Protection and Compensation”, which may help, please email us at: firstname.lastname@example.org.
The common denominator among those platforms that have withdrawn from the market in recent years is that they were loss making and presumably their shareholders could not see this trend being reversed in the foreseeable future and quickly withdrew from the UK market. The profitability that Transact has achieved since 2003 demonstrates that our approach and the wrap model we have developed is proven and will stand the test of time. It’s an approach that has worked well, which is why Transact enjoys a loyal following from a large and growing number of advisers.
Transaction Buy Commissions
All asset purchases are charged at 0.05% of the value of the asset.
At the end of each month, clients will receive a full refund of the Buy Commission charged in that month if the average total value of their Portfolio (combined with any consolidated Portfolios, where relevant) is at least £1,000,000 for the whole month for which we are charging, or where the Portfolio(s) was opened in that month for the period to the end of the month for which we are charging.
There are different rates of annual commission for investment assets and cash.
|The value of Portfolio(s)||Investments||Cash|
|On the first £600,000*|
*Except where the portfolio is less than £150,000,
in which case the first £60,000 is charged at
|On the next £600,000||0.20%||0.18%|
|On the remaining balance||0.075%||0.0675%|
|General Investment Account||£0|
|Transact Qualifying Savings Plan||£18|
|Transact Onshore Bond||£18|
|Transact Personal Pension Plan||£20|
|Transact Executive Pension Plan||£20|
|Transact Section 32 Buy-Out Bond||£20|
|Transact Offshore Bond||£60|
Where clients hold more than one wrapper of the same type, then they will only be charged one wrapper fee per wrapper type each quarter.
A more detailed explanation of the charges can be found in the Transact Commissions and Charges Schedule, click here to download a copy.
We offer a very wide range of funds (active and passive) and we have negotiated discounts on the majority of the standard initial and annual charges. In addition to unit trusts, OEICS and other collective investments, we can buy, sell or re-register stocks & shares including ETFs and investment trusts as well as hedge funds, structured products, limited partnerships. We also hold client cash in a variety of deposit accounts. We can provide a full listing as part of the due diligence process, subject to you signing an appropriate confidentiality agreement. Once you have signed up, we will provide you with access to an online report on the terms negotiated for every fund on offer in Transact.
The tax wrappers available within Transact are: ISA, pensions (PPP, EPP, S32 and SIPP), onshore and offshore life policies and a General Investment Account (GIA) for those assets that are to be held outside of a tax wrapper. This is essential to allow clients to use their CGT allowances. The GIA is also used to hold assets within other providers’ wrappers such as SIPPs and offshore bonds.
Transact allows re-registration off its platform for which it makes no charge. It is possible to record holdings that are held outside the nominee account by using AssetMemo®, a facility to show assets such as legacy policies, property, premium bonds and National Savings. There is no additional charge for AssetMemo®.
Both the adviser and the client have full access via the internet since both have separate secure login details. It is also possible to provide ‘read only’ access to advisers’ staff and professional connections where appropriate consent is given.
We provide a CGT calculator and a Performance Analysis tool as well as information on funds and shares via links to TrustNet and Bloomberg. Risk profiling, asset allocation and fund selection tools are available through links with Finametrica and Morningstar. In addition to this, ‘AssetMap’ – an asset allocation and x-ray tool; and ‘MoneyMap’ – a lifetime cash flow modelling tool – are provided for advisers to use.
Since Transact was launched in 2000, there has been a constant stream of improvements to the service. Some of these are listed below:
- Bulk dealing
- Full model portfolio capability – all online
- Investor Authorisation
- Portfolio rebalancing
- Online buying and selling
- Capital Gains reporting for multiple clients (used to analyse husband and wife together)
- Links to discretionary investment managers and other third parties
- Personalised illustrations that can be saved and/or amended online
- A full suite of forms that pre-populate
- VAT capability on adviser payments
- Online deposits and withdrawals
- Full transaction reports online, available to client and adviser
- White labelling of the website for the adviser
- ISA and Pension subscription reports
- Adviser remuneration reports
- We have also recently enabled all our users to turn off paper and access just about everything online – all in one place.
- Reports on cash levels for each client by tax wrapper
- Links to most major back office systems
- Bed & ISA, Bed & Pension, Bed & Bond facilities
- Term Deposits
If you have further questions please feel free to call us on 020 7608 4900 or email us at email@example.com.