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Adviser Update

INTRODUCTION

Dear Adviser,

Thank you for all your support and placing your clients’ hard-earned investments with Transact in the last month. We have been working hard to deliver for you and your clients during this busy period. I hope your service experience matched the effort put in by our people in our front line and back-office teams. We know we will continue to have a busy period ahead during April as you and your clients make use of new allowances in the new tax year.

From 1 April pension wrapper fees reduce for families in a linked family group. This means just one single pension wrapper fee will apply for the whole linked family and results in a simplification of charges and better value particularly for lower value portfolios which could benefit from no pension wrapper fee. The single wrapper fee applies to Personal Pension and SIPP wrappers separately. We have also added another term deposit provider, Arbuthnot to Aldermore, BLME and Investec. You can see the latest rates on Transact Online (TOL).

This month is a significant milestone for our integrations programme: our new account opening API is now live. This functionality allows you to pull information from back-office systems to pre-populate Transact illustrations and guided applications. We are working collaboratively with back-office service providers to ensure they can easily connect to our new API and have shared the technical details with them. Please contact them to share your interest and demonstrate demand so that they prioritise this connection to us.

Our digitalisation programme has delivered multiple new features on TOL this month. First, you can complete General Investment Account transfers via Guided Applications. This is another step forward for advisers and clients. Second, super users can now add new advisers online. This will reduce paperwork, errors and turnaround times, especially for larger firms. And finally, with compulsory multi-factor authorisation (MFA) on the horizon, we have extended the TOL timeout session when MFA is enabled. Now set at four hours before you time out, you don’t have to log in repeatedly. Please see TOL Enhancements for more details.

We continue to increase the profile of our technical support. This month our technical articles focus on capital gains and offshore reporting funds, Annual Allowance and Scheme Pays, and finally gifting from a relevant property trust. We would encourage you to read them and to make the most of the technical support available to you:

  • Capital gains and offshore reporting funds in article 8.
  • Annual Allowance Charges and Scheme Pays in article 9.
  • A study in gifting – distributing profits from a relevant property trust in article 10.

Please call our direct technical line if you want to discuss any of these articles in more detail on (020) 7608 5330 or email technical_direct@integrafin.co.uk.

If you can, I would appreciate you completing Platforum adviser satisfaction survey (click here). This rolling quarterly survey provides insight into latest views on platform performance and helps the industry to improve services and customer support. All responses are treated as confidential and on completion you can download a free copy of Platforum’s Choosing an Adviser Platform report, which supports platform selection and due diligence. You will also be eligible to enter a prize draw to win one of four £50 Amazon vouchers.

I am looking forward to our 2025 in person Connect events. Our next Connect event will take place on 7 May in Birmingham (click here to register), followed by Leeds on 4 June. Our smaller more personal breakfast events are a good way to meet your regional BDM and ASM and a full list of events and joining instructions can be found here. Please do join us!

Kind regards,

Tom Dunbar
Chief Executive Officer

 

 

1. Introduction
2. TOL Recent Enhancements 
3. Our New Account Opening API
4. CURO 3 & Fee Reconciliation
5. FCA Ongoing Service Review
6. Transact – BlackRock MPS Update
7. Offshore Reporting Funds – Excess Reportable Income and Capital Gains
8. Tax Year End Reporting – Annual Allowance Charge And Scheme Pays
9. A Study In Gifting – Distributing Benefits From A Relevant Property
10. Interest On Cash
11. Transact Events 2025

 

 

This website is designed to be used by financial advisers, their clients and professionals. It is intended as general guidance only and should not be viewed as a recommendation to use or rely on any features mentioned. The information is not advice, nor is it a substitute for advice.
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"Transact" is operated by Integrated Financial Arrangements Ltd. 29 Clement's Lane, London EC4N 7AE. Tel: 020 7608 4900 Fax: 020 7608 5300. (Registered office: as above; Registered in England and Wales under number: 3727592). Authorised and regulated by the Financial Conduct Authority (entered on the Financial Services Register; no. 190856).